OREANDA-NEWS. On 01 July 2009 was announced, that Supervisory Council had approved the concept of RUSNANO participation in venture and seed funds. The document defines guidelines for RUSNANO participation in investment funds. Their creation plays an important role in developing the financial infrastructure in the field of nanotechnology.

According to the concept, RUSNANO will take part in 5 major types of specialized funds: nanotechnology seed funds, low budget projects funds, industry funds, international nanotechnology funds involving foreign investors and leading international management companies, as well as funds based on intergovernmental agreements.

Each type of fund serves a different purpose. By setting up the funds, RUSNANO intends to attract extra money from private Russian and foreign investors to nanotechnology projects, ensure the transfer of international hi-tech developments to Russia, and form additional market mechanisms to enable different phases of the projects.

In the initial stage seed and international funds will be RUSNANO’s priority. Currently, RUSNANO is considering options for cooperation in setting up nanotechnology seed funds with the Russian Venture Company (RVC) and several regional authorities.

On average, each fund is expected to have 20 to 30 fund-invested projects with RUSNANO's share reaching up to 50%. At present, negotiations are in progress between Russian and foreign partners regarding their participation in the funds. Using money inwarded by the funds, RUSNANO intends to at least double current investment in Russian nanotechnology.