24 September 2009

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Below are excerpts from the text of the document
"The procedure and formats of participation of Rosnanotech Group in venture and seed funds in the field of nanotechnology".


[...] 2. Purpose of the document developmentThe procedure and formats of participation of Rosnanotech Group in nanotechnology investment funds determine the uniform conditions and procedure for participation of Rosnanotech Group in nanotechnology investment funds and the creation of such funds together with partners of Rosnanotech Group.

This document was developed taking into account "The procedure and conditions for financing R&D in the field of nanotechnology, projects in the field of nanotechnology involving the introduction of nanotechnology or the production of products in the field of nanoindustry, projects for the training of specialists in the field of nanotechnology", paragraph 4.1.

3. Basic principles

Investing with the use of nanotechnology investment funds should solve the following tasks:

– attraction of additional funds from third-party co-investors and ensuring the effect of multiplication of funds of Rosnanotech Group;
– stimulating the development of the financial infrastructure of the market in the field of nanotechnology;
– providing investment support for projects at an early stage and/or small-scale projects;
– providing comprehensive financing of projects within the framework of industry roadmaps with the involvement of co-investors;
– ensuring the transfer of advanced international technologies to Russia;
– attraction of funds from foreign co-investors in innovative production projects in the territory of the Russian Federation;
– formation of an instrument of interstate cooperation in the field of nanotechnology.
It is proposed to create investment funds of nanotechnology (IFN) of five main specialized types.

Nanotechnology seed funds and small project funds will, if possible, be created jointly with JSC RVC and/or regional administrations.

The participation of Rosnanotech Group in each fund is approved by the Supervisory Board of the corporation.
The Supervisory Board of the corporation may make decisions on the participation of Rosnanotech Group in other types of funds.

4. Organizational and legal form of funds

The preferred organizational and legal form of creating an IFN is a ZPIF, whose shares are limited in turnover.

When creating funds that involve attracting a significant share of foreign investors' funds, it is possible to organize such funds in a foreign jurisdiction, taking into account the established practice of international investors.

Also, in some justified cases, other organizational forms may be used for funds of the Russian jurisdiction (in addition to the ZPIF, whose shares are limited in turnover). [...]

The full text of the document can be downloaded here.

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24.09.2009

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