Participation of RUSNANO in Investment Funds of Nanotechnologies May 26 th , 2010
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Transcript of Participation of RUSNANO in Investment Funds of Nanotechnologies May 26 th , 2010
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Participation of RUSNANOin Investment Funds of Nanotechnologies
May 26th, 2010
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Reasons for RUSNANO to participate in Investment Funds
To leverage RUSNANO’s investments in order to reach “multiplication” effect for RUSNANO’s funds invested in Russian nanotechnologies
To attract domestic and foreign investors to innovative projects in Russia
To get access to the best investment and technological expertise all over the world
To organize an efficient process of technology transfer to Russia
To create a financial infrastructure for further development of Russian nano-industry
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Main requirements of RUSNANO when participating in Investment Funds
Требования Роснанок фондам
RUSNANO commits up to 50% of the Fund. The remaining commitments must come from the 3rd party sources.RUSNANO commits up to 50% of the Fund. The remaining commitments must come from the 3rd party sources.
Selection of Fund Concepts and Fund Managers on a competitive basisSelection of Fund Concepts and Fund Managers on a competitive basis
At least 50% of Fund’s investments (RUSNANO’s share) must go to “nano” related projects with establishment of production in Russia. At least 50% of Fund’s investments (RUSNANO’s share) must go to “nano” related projects with establishment of production in Russia.
Fund’s target IRR should not be less than 20%Fund’s target IRR should not be less than 20%
RUSNANO requires a negative control over Fund’s investment decisions to ensure that2 requirements are met (nanotechnology and establishment of production in Russia)RUSNANO requires a negative control over Fund’s investment decisions to ensure that2 requirements are met (nanotechnology and establishment of production in Russia)
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Types of Funds with participation of RUSNANO (excl. Rusnano Capital)
RUSNANO
Funds for small &medium-size
projects
Industrial &Sectoral Funds
IntergovernmentalFunds
International Funds
Funds invest in small and midcap companies which develop and produce nano products.Usually they are created as regional funds.
Funds are established in Russian jurisdiction by Russian fund managers.
Funds invest in companies in particular industries. Funds are supported by strategic investors and fund managers with industrial focus.
Funds are established in Russian jurisdiction by Russian fund managers.
Funds are established in furtherance of interstate agreements between Russian and foreign governments
Funds are targeted at “technology transfer”from a particular region.
Funds are managed by world-class VC fund managers
- Skolkovo Fund;- Perm Region Fund;- Russia North Region Fund
- Metallurgy Fund - Russian-Kazakh Fund - DFJ-VTB Aurora
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RUSNANO participation in Funds in numbers (excl. Rusnano Capital)
Funds already approved: 6
Total size of approved funds: approx. US$500 million
Rusnano’s share in approved funds: approx. US$215 million
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• RUSNANO Capital is an investment management firm formed by Russian Corporation of Nanotechnologies at the initiative of the government of the Russian Federation and registered in Switzerland
• RC mission is to achieve highest returns by investing in advanced technologies, providing access to the Russian market and leveraging Russia’s technological might
• RUSNANO Capital
• Anchor investor
• Access to Russia for global funds and their portfolio companies
• Access to Russia’s academic research and R&D expertise
• Management of RUSNANO Capital has substantial experience in global asset management and investment banking
RUSNANO CAPITAL Overview
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Key figures
Commitment sizeFrom RUSNANOFrom international investors
Funds investing period
Life
Target IRR
$2 billion$1 bn
$1 bn
Fourth quarter of 2009 – fourth quarter of 2013
10 years
20% - 25%
Legal Form Luxembourg SICAR fund or similar jurisdiction
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Roadmap
• Investing alongside global private equity, VC and other high-profile investors
• Providing access to untapped Russian market
• Direct access to Russian R&D capabilities
• Facilitating technology transfer
• Commercialization of Russia originated technologies
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Sector Focus
Green, alternative and renewable energy BiotechPharmaceuticals
Fund investments are carried out primarily in expansion stage companies in commercialization or close to commercialization phase
Investment criteria
New materials and technology
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Партнеры УК/Фондов
• History and successful track record in managing PE and VC funds operating in high-technology sector
• Established relationships with institutional investor base; ability to raise capital within the required timeline
• Experience in emerging markets
International partner selection criteria
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RUSNANO Capital Board of Directors
Two representatives of RUSNANO Corporation
Anatoly Chubais – CEO of RUSNANO Corporation
Oleg Kiselev – Deputy CEO of RUSNANO Corporation
A representative of RUSNANO Capital management
Irina Rapoport - General Director of RUSNANO Capital
Two independent directors:
Lord Skidelsky – Member, House of Lords
Michael Carter – former World Bank Country Director for Russia,
India and the Baltics
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Механизмы контроля
All RUSNANO Capital investments should comply with the approved investment strategy
•Participation in the Investment Committee
•Participation in general partner’s decision making process
•Participation on the board of portfolio companies
Means of Control
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Механизмы контроля
THANK YOU!
QUESTIONS ARE WELCOME