Three billion were awaited for two years

Three billion were awaited for two years

 

Federal Agency for Federal Property of the Russian Federation (Rosimuschestvo) registered the fund for IT-start-up development.

The long history with establishing in Russia the venture fund for ICT (information and communication technology) support was finished – Rosimuschestvo registered the ‛Russian Investment Fund of Information-Communication Technologies‛ (Rosinfocominvest) with the charter capital of 1,45 billion rubles, which after emission will be increased twice – to 2,9 billion rubles.

Grigory Bunatyan became the General Director of the Rosinfocominvest. The first lines in the list of the Board of Directors is occupied by Leonid Reyman, the Minister of communications and Dmitry Milovantsev, the Deputy Minister of communications. Perspective projects of ICT branch can pretend on investments in the volume up to 100 million rubles each.

Mininformsvyazi started the discussions about the venture, which supported the ICT branch, more than two years ago. The suggestion was approved, and the project started the phase of interdepartmental agreements. It continued till the direct order of Viktor Zubkov, the Prime-Minister, on ending the procedure of state registration within one week term. As the result ‛Russian Investment Fund of Information-Communication Technologies‛ was registered on October 11, 2007 and started to assist the perspective IT-projects in overcoming the difficulties of formation.

Is assumed to be that in the beginning of 2008 Rosinfocominvest will execute the additional emission, which will increase its capital twice. Minsvyaz will be the owner of all the state stocks. As the resource in Minsvyaz told the CNews in 2009 the share of state stocks will be sold to private investors. As the result the state share in the capital will be lowered to 25% plus one stock. In 2010 the state will completely exit from the Fund ownership.

However, the Fund will start the investment process when after the additional emission the federal share in its capital will be lowered to 51%.

 

 

CNews November #11 (2007)

Page 6.

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