Russian Government to create venture capital company

Interfax Russia – The Russian government will pass a decree on the establishment of the Russian venture capital company at the next governmental meeting, Economic Development and Trade MinisterGerman Gref said at a meeting with Russian President Vladimir Putin on Monday.

“The company will be a ‘fund of funds’ with 15 billion rubles of state investment,” he said.

The government “has come close to the creation of a venture fund,” Putin said, with Gref saying that the text of a relevant decree has been fully agreed upon, while this week will see the completion of the re- registration of a legal entity, which will serve as a base for the Russian venture capital company.

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