Rusnano Capital, the Russian government-owned nanotechnology investment company, and international technology investment group I2BF Global Ventures have launched the I2BFRNC Strategic Resources Fund to invest in later stage nanotechnology companies.
The seven year fund launches with a USD53m commitment from its LPs with a target fund size of USD150m. Its remit will be to invest in international nanotechnology that has applications of value within the Russian Federation, with a focus on the resource sector as well as water and agriculture.
“We are delighted to partner with Rusnano Capital on our first late stage venture fund expanding on I2BF’s existing investment expertise,” says Ilya Golubovich (pictured), managing partner of I2BF Global Ventures. “It is important in a fast maturing nanotech market that together we are now able to offer expansion capital to larger companies with proven technologies. The opportunities to roll out nanotech applications and also production facilities in Russia are widespread and we will be using our global footprint to channel the best technologies into this market.”
“Agriculture and water supply industries in Russia offer an immense source for growth,” says Irina Rapoport, chief executive of Rusnano Capital. “We are planning to capitalise and develop those branches of the economy together with I2BF Global Ventures which has a unique combination of venture industry experience as well as a Russian edge.”
Nanotech applications are increasingly widespread in sectors as diverse as food and agriculture, consumer electronics, energy production and storage, and medicine.
