Rusnano goes big with two funds

The nanotechnology-focused commercialisation firm is set to establish two investment funds in the first half the year and is seeking co-investors from China and the Middle East.

Rusnano, the nanotech-focused commercialisation arm of the Russian government, is looking to create two new investment funds in the first half of 2017, DealStreetAsia reported yesterday.

The firm is in discussions with potential co-investors from China and the Middle East.

The funds were first revealed by Boris Podolsky, executive director of Rusnano, in December 2016 when he was interviewed by Russian magazine Prime. Podolsky said Rusnano had also approached the Japanese government about co-investing the previous month.

This would add to the $1bn Russia-Japan Investment Fund, announced last month, that will target sectors including healthcare and energy and is being backed by sovereign wealth fund Russian Direct Investment Fund and state-owned development institution Japan Bank for International Cooperation (JBIC).

Rusnano, which has 16.45bn rubles ($273m) under management, has a mandate to secure up to 150bn rubles by 2020.

Podolsky said: “Our idea is to attract an institutional investor, with banks like JBIC or other investors operating in this segment. We also deal with a wide range of technology companies, for example, we talked to Mitsui, but it is a preliminary agreement. I think $100m is a comfortable amount for the agreement, it is better to start working with the small fund size.”

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