JSFC Sistema and RUSNANO Create a Fund of Direct Investments

05 September 2016

PJSC JSFC Sistema (hereinafter referred to as the JSFC Sistema) (LSE: SSA, MOEX: AFKS), a public Russian diversified holding company, and RUSNANO announce the start of a joint direct investments fund oriented towards investments in high-technological companies and projects.

The total amount of the fund is up to $100 mln. JSFC Sistema and RUSNANO participate in the fund in equal proportion. Resources will be directed to the Fund in proportion to financing of specific transactions.

The Fund has been created for 7 years with the possibility of prolongation for three more years. The average amount of one investment is ;5-20 mln. In the future third-party investors will be able to participate in the Fund.

The Fund will be involved in investing in high-technological projects at the initial stage as well as in growing and already developed companies in Russia, CIS countries, Europe and Israel. The fund is mainly focused on microelectronics, energy efficiency, robotic technology, information and communication technologies and other fields. 

“RUSNANO has entered into a new stage of the investment cycle, which consists in creation of joint funds to which not only our resources but also resources of professional private investors will be attracted. Thus, we will be more active in promoting the private equity market of high technologies and industry,” said the Deputy Chairman of the Board—Executive Director of Management Company RUSNANO Boris Podolskiy.

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of shares of JSC RUSNANO are owned by the state. Thanks to investments RUSNANO currently opened 84 factories and R&D centers in 30 regions of Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.