The Russian Venture Company (Российская Венчурная Компания or RVK), the Russian state venture company that acts as a fund of funds, has announced it has completed funding to 4 venture capital funds in 2008. RVK invested a total of 4.8 billion rubles for 49 percent equity in each fund’s capital. So far, RVK helped to form 6 venture capital funds with a total equity capital of 15.9 billion rubles (approx. $575 million).
The funds formed in 2008 include Maxwell Biotech (Максвелл Биотех) with equity capital of 3.061 billion rubles, Leader Innovations (Лидер-Инновации): 3 billion rubles, Tamir Fishman CIG (Тамир Фишман Си Ай Джи): 2 billion rubles, and S-Group Ventures (С-Групп Венчурс): 1.8 billion rubles.
The funds formed in 2007 include VTB Venture Fund (ВТБ-Фонд венчурный) with equity capital of 3.061billion rubles and Bioprocess Capital Ventures (Биопроцесс Кэпитал Венчурс): 3 billion rubles.