Together with the Russian company RUSNANO and the Governor of the administrative district Perm, Nanostart AG is launching a nanotechnology fund in Russia. RUSNANO is a joint-stock company with assets of more than 10 billion US dollars, making it the financially strongest nanotechnology investor in the world. Nanostart has joined forces with the company for its market entry into Russia. The jointly launched Kama Fund First encompasses a volume of 2.0 billion rubles or nearly 50 million euros.
“We have systematically investigated the Russian nanotechnology scene”
The purpose of the fund is to provide growth financing for young, promising nanotechnology companies in the administrative district Perm. Nanostart AG will invest up to 25 percent of the fund volume, 12.5 million euros, as well as manage the fund. RUSNANO and the governor of Perm are investing equal amounts for a total of 37.5 million euros, which represents 75 percent of the fund volume. In addition to the shareholding, as fund manager Nanostart receives a carried interest of up to 25 percent as well as an annual management fee totaling 3 percent of fund volume.
For Nanostart, the fund marks a prelude to business activities in Russia. "We have systematically investigated the Russian nanotechnology scene", said Marco Beckmann, CEO of Nanostart AG. "With growing interest, we became acquainted with the Perm region. That we are working exclusively with RUSANO and the governor of Perm, Mr. Oleg Chirkunov, is a tremendous testament to our work. But the most rewarding affirmation for us is the recognition that we have developed into a leading growth investor for nanotechnology."
“I view Kama Fund First as a generator of promising nanotechnology projects that will grow in their next stage of development, with financial participation by RUSNANO, into significant businesses”, said Anatoly Chubais, Chairman of the Executive board of RUSNANO. “It is heartening to us that one of the leading investment companies in nanotechnology will invest in the fund and manage it. This is the same smart money that is essential for the development of an innovation economy.”
Nanostart found ideal conditions for the fund in Perm. Governor Oleg Chirkunov is developing the region into a technology pioneer. The emphasis is on development, commercialization, and application of nanotechnology products. According to RBC Daily, Perm is among the Top 10 most innovative regions of Russia.
The fund is part of an initiative by the Russian government to develop into a high-tech nation. The goal is to be one of the most important countries in the world for the production of nanotechnology-based products. This progress is mainly driven by the Russian company RUSNANO. The former government holding has been a stock corporation since March 2011. It promotes the commercialization of nanotechnological innovation and the development of necessary infrastructure to support projects. The equivalent of nearly 10 billion dollars has been made available.
Nanostart was selected from among several renowned international competitors during the fund application process. This cooperation with distinguished Russian partners is further proof that Nanostart AG has established itself as a leading and sought-after expert for nanotech investment. Through the fund, which should last up to 10 years, Nanostart will benefit from the growth potential of nanotechnology in Perm and Russia. Russia has set a goal to become a leading producer of nanotechnology products by 2015. The Kama Fund First is named after the Kama River, which flows through the region.
The fund was introduced to the international media today by Anatoly Chubais, Oleg Chirkunov, and Marco Beckmann in Moscow.
Nanostart AG will present more information about its market entry into Russia, the Kama Fund First, and its partners in an open Web conference (ONLY GERMAN) on April 27, 2011. For more information please visit the Nanostart website.
Nanostart AG (OTCQX: NASRY), is the world’s leading nanotechnology investment company. Headquartered in Frankfurt am Main, it invests venture capital in nanotechnology companies in various development phases. Investments are focused on companies in the most innovation-driven segments: cleantech, life sciences and IT/electronics. Through its wholly-owned subsidiary in Singapore, Nanostart invests in nanotechnology companies in Asia in conjunction with the government of Singapore. For more information on the company, please visit http://www.nanostart.de.
RUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Further Information: http://www.rusnano.com
Russian administrative region Perm is located in the far eastern part of Europe, just west of the Ural Mountains. It is among the most important industrial regions of Russia. Innovative industries and technologies are becoming increasingly important to the international competitiveness of the region. Nanotechnology is playing a central role – projects and companies in this area are benefiting from extremely positive conditions and the availability of financial support. Website for the Perm region: http://www.perm.ru.