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5/9/2011 12:17:31 PM
RUSNANO and Perm Krai Choose German Nanostart AG to Manage 50-Million Euro Fund

An agreement of cooperation with investment company Nanostart AG, winner of the open competitive tender* to manage venture capital fund Kama Fund First, was signed today by RUSNANO CEO and Chairman of the Executive Board Anatoly Chubais, Perm Krai Governor Oleg Chirkunov, and Nanostart CEO Marco Beckmann. Nanostart AG is a leading nanotechnology investment company headquartered in Frankfurt, Germany. Signing took place in Moscow as part of a Global Innovation Partnerships forum being held April 18–22, 2011, in Moscow and Kazan. The forum has attracted 25 heads of European venture funds and executives of international technology companies.

Kama Fund First is a two-billion-ruble (€50 million) venture capital fund for high-tech developments in Perm Krai. RUSNANO and Perm Krai will each invest 750 million in the fund; Nanostart AG will invest 500 million rubles. The fund with a planned life of ten years will be registered with Russia’s Federal Service for Financial Markets in June 2011.

The purposes of Kama Fund First are to accelerate innovative developments in Perm Krai, diversify venture financing instruments, and increase the project base in the region for RUSNANO co-investment at later stages. The fund will invest in 10 to 20 projects of which at least 75 percent will be projects in 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 from RUSNANO, into significant businesses,” said Anatoly Chubais. “It is heartening to us that one of the leading investment companies in nanotechnology will invest in the fund and manage its resources. This is the same smart money that is essential to the development of an innovation economy.”

“We wanted and were able to attract a management company for Kama Fund First that was one of the leaders in the European venture capital market,” explained Oleg Chirkunov. “I hope that Nanostart AG’s capabilities and financial resources will enable us to couple high-tech business with the work being done in Perm’s national research universities and take innovative companies from the region to the international level.”

“Partnership with RUSNANO and Perm Krai with Governor Chirkunov at its helm is significant recognition of our work and our expertise. We are extremely pleased with the prospects of contributing to the success of Russia and Perm Krai as global players in nanotechnology. In the rapidly evolving high-tech sector, Kama Fund I is Nanostart’s gateway to the Russian market with its enormous potential,” said Marco Beckmann.

*The tender winner acquires the right to sign memoranda of understanding providing for placing under its trust the property of Kama Fund I closed unit investment fund for high-risk (venture) investments. The fund’s investment units have limited circulation (are intended for qualified investors only).

RUSNANO

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. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO.

Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies. http://www.rusnano.com

Nanostart AG

Nanostart AG (OTCQX: NASRY) is a leading global nanotechnology investment company. It invests venture capital in nanotechnology companies in various stages of development, giving priority to companies making advances in cleantech, life sciences, IT, and electronics. Company headquarters are in Frankfurt am Main, Germany. Through its wholly owned subsidiary in Singapore, Nanostart invests in Asian nanotechnology companies jointly with the government of Singapore. http://www.nanostart.de.

Perm Krai

Russian administrative region Perm Krai lies in the far eastern part of Europe, just west of the Ural Mountains. It is among Russia’s most important industrial regions. Innovative industries and technologies are becoming increasingly important to its international competitiveness. Nanotechnology plays a central role—projects and companies in the region benefit from extremely positive conditions and the availability of financial support for their work. http://www.perm.ru

Other Headlines from Nanostart AG ...
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 - RUSNANO and Perm Krai Choose German Nanostart AG to Manage 50-Million Euro Fund
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Other Headlines from Russian Corporation of Nanotechnologies (RCNT) ...
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 - Nanostart portfolio company ItN Nanovation: Rusnano plans equity investment as part of a capital increase
 - RUSNANO Co-investment Helps Launch Russian Production-Research Lab from American Innovation company BiOptix

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