Russian Direct Investment Fund to Focus on Start-Ups in IT, High-Tech, Robotics

The Russian Direct Investment Fund (RDIF) would focus on the investment opportunities in the Russian start-ups in biomedicine, big data and biotechnology areas within the framework of the creation of joint venture funds with China and Japan, RDIF CEO Kirill Dmitriev said Monday.

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MOSCOW (Sputnik) — On November 19, Dmitriev said that Russia was considering starting a joint venture fund with Japan, with the final decision to be announced in December.

"In Russia we will first of all look at the possibilities in health services, including biomedicine and biotechnologies, as well as the IT in the financial sector, Big data and cloud technologies and everything related to high-tech and smart production, including a development of new materials, robotics and clean energy sources," Dmitriev told RIA Novosti.

He added that a target size of joint Russia-China venture fund would be up to $100 million, while the RDIF and Tus-Holdings would be anchor investors and would aim to attract funding of other companies in Russia and China.

On November 9, RDIF and the Chinese Tus-Holdings company agreed to establish a joint Russia-China venture fund to promote the development of trade and economic, investment, scientific and technological cooperation between the two countries.

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