Russian Corporation of Nanotechnologies (RUSNANO) will set up a $1 billion international nanotechnology investment fund, according to its corporate web-site. The U.S.-based C Change Investments has won a tender to become a Western investment partner for RUSNANO’s first international fund, reported business newspaper Vedomosti.
RUSNANO and C Change are expected to put up to $500 million each into the new fund. It will be registered in the U.K. and formed in Q4 2009 – Q2 2011. The fund will be managed by Rusnano Capital. The fund will invest in nanotechnology ventures in Russia including Western technology transfer and development of Russian nanotechnology production.
Launched in November 2008, C Change Investments is based in Cambridge, MA and focuses on investment in and development of clean energy technologies. C Change was co-founded by John Preston, former director of technology development at MIT, and Russell Read, former chief investment officer of the California Public Employees’ Retirement System (CalPERS).