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VTB Capital Investment Management and the “Skolkovo” Foundation have formed a partnership to work together on innovation

Tags: venture capital

May 23, 2011
VTB Capital Investment Management and the Foundation for Development of the Center of Research and Commercializing of New Technologies (“Skolkovo” Foundation) have signed a cooperation agreement aimed at the development of innovations.

On entering this partnership with the “Skolkovo” Foundation VTB Capital Investment Management will have the opportunity to invest in the projects that have been founded in the innograd.

VTB Capital Investment Management will actively participate in all the expert councils, drafting and assessing laws and other legislative initiatives of the “Skolkovo” Foundation.
Today VTB Capital is among the leaders of Russian and CIS venture industry actively investing in high-tech companies that are doing business around the world. VTB Capital Investment Management brings its expertise in the realization of venture projects in Russia to this partnership.

The “Skolkovo” Foundation is the ideal environment for the development of innovative processes through the supports of the creation of new ideas and the commercialization of new technologies.

Aidar Kaliev, Head of venture investment at VTB Capital, said: “Having entered this agreement with the “Skolkovo” Foundation we have become a venture partner and full-fledged participant of innograd. We bring to the table our expertise and resources that can be invested in companies part of the “Skolkovo” Foundation. The 25 companies that form VTB Capital’s venture business portfolio will also become “Skolkovo” members. It is a strategic union with large prospects”.

Alexei Beltyukov, Vice President, Director of Planning and Development of the “Skolkovo” Foundation, said: “Our focus is on the long-standing experience of VTB Capital and the cooperation with the leading Russian and international development institutions. This agreement continues the process of integrating the “Skolkovo” ecosystem into the common system of continuous project financing on all the stages of innovative cycle. We have formed relations with the world’s major venture investment market players and have also defined cooperation format with ROSNANO, RVC and a number of other investment companies. It is important for us to now begin to shape these processes and turn them into effective system that allows us to use the full range of financial instruments with maximal effectiveness to our projects”.

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