The Far Eastern High Technology Fund Announces the Closing of Its First Two Transactions for RUB 175 mln

26 August 2019

The Far Eastern High Technology Foundation (FHTF), established in August 2018 by the Far East and Baikal Region Development Foundation (part of VEB.RF), RUSNANO and RVC, announces the closure of the first two transactions for the amount of RUB 175 mln.

Two Far Eastern companies received funds from the Foundation:

  • Hotlead (Khabarovsk), cloud telephony service with built-in CRM-system. The Foundation’s investments amounted to RUB 75 mln
  • Visitech (Yuzhno-Sakhalinsk), developer of IT solutions in the field of industrial safety and labor protection. The Foundation's investments amounted to RUB 100 mln.

As a result of these transactions, the Foundation became part of the equity of the companies, and the shares are undisclosed.

The portfolio companies will allocate the funds received for the improvement of their products through the strengthening of R&D-divisions and development in Russia, including the regions of the Far East. In particular, Hotlead and Visitech will open additional sales offices and R&D centers on the Russky Island in Vladivostok.

“RUSNANO welcomes the closure of the Foundation’s first transactions and highly appreciates the prospects of selected projects in the field of digitalization of industrial and business processes in the Far East. The investment of the Foundation will allow to significantly scale up the business of Hotlead and Visitech, which are already operating in the Far East. RUSNANO, as one of the LPs (limited partners) of the Foundation, will promote the development of projects and technology promotion in the domestic market and beyond,” comments Sergey Vakhterov, Senior Managing Director of RUSNANO Management Company.

“Over the past year, the Foundation has done a great deal of work, focusing on more than 200 technology companies doing business in the Far East or aimed at localization in the region, forming a significant pool of projects to be included in its portfolio. Hotlead and Visitech are already operating in the Far East, and the progressive development of the companies has a high potential for further integration into the local economy through the digitalization of key business processes of leading enterprises, and will be strengthened by the investments of the Foundation. By the end of the year, the Foundation will finance five or six other companies to accelerate the development of the Far East's innovative environment,” said Ruslan Sarkisov, General Director of the Far Eastern High Technology Foundation.

“The first deals made by the Far Eastern High Technology Foundation prove that the region has a significant potential for innovative development. At the same time, I would like to note that the priority of the Foundation’s investment strategy is the projects corresponding to the NTI markets. Thus, within the framework of the National Technological Initiative, another effective tool of financial support began to work,” said Alexey Basov, Deputy Director General, Investment Director for RVC.

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 RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 103 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 5 years.

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.

* * *

The Far East High Technologies Fund (FHTF) was established in August 2018 by the Far East Development Foundation (part of VEB.RF), RUSNANO and RVC. It manages RUB 5 bln. The FEHTF invests in smart software and the industrial internet of things, alternative energy and energy storage, robotics, biotechnology, IT and cloud solutions for business, etc.

All projects of the Foundation are planned for development in the Far East. 

The average investment amount of the Foundation’s investment is RUB 100-150 mln.

The Foundation was established in pursuance of the order of the President of the Russian Federation Vladimir Putin on the development of high-tech industries and innovative activities in the Far East.

More information about the Foundation’s portfolio companies:

HOTLEAD

Cloud telephony service for business with built-in virtual ATS, CRM system and phone numbers in 115 cities in Russia and 75 countries. The head office and development team are located in Khabarovsk, there are branches in Moscow, Vladivostok and Seoul (South Korea).

The platform has a multilingual interface and can be used anywhere in the world.

For more information please visit at the website hotlead.io

VISITECH

Visitech is engaged in the development and implementation of IT solutions for the automation of occupational health and safety, industrial and environmental safety with the use of artificial intelligence and predictive analytics, which helps to minimize the likelihood of accidents. The company's solutions are versatile for any industrial production - whether in the oil and gas, metallurgy or power generation industries.

The clients of the company are:

  • PJSC Gazprom Neft
  • PJSC Magnitogorsk Iron and Steel Works
  • JSC Slavneft-Megionneftegaz
  • JSC Messoyakhaneftegaz
  • PJSC T Plus.

For more information please visit at the website visitech.ru