A sovereign wealth tech venture fund has appeared in Russia. It was created by NTI Project Support Fund and Popov Radio Corporation JSC. Through it, 6.4 billion rubles will be invested in drones and wireless communications.
The fund’s first investments are expected to be made this year. The support, as expected, will be priority entrepreneurship projects for the government, Vedomosti learned.
Both projects that have passed through the NTI ecosystem and market projects can apply for funding. Now the fund is bringing together a group of partners to expand the amount of funds and the number of possible projects.
According to Dmitry Kalaev, a partner of the IIDF fund, about 10% of the total amount will go to operating expenses, and investments in one company will amount to 250-300 million rubles.
Author:
karina pardaeva
Source: RB
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