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Reasons for RUSNANO to participate in Investment Funds
To leverage RUSNANO’s investments in order to reach “multiplication” effect for RUSNANO’s funds invested in Russian nanotechnologies
To attract domestic and foreign investors to innovative projects in Russia
To get access to the best investment and technological expertise all over the world
To organize an efficient process of technology transfer to Russia
To create a financial infrastructure for further development of Russian nano-industry
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Main requirements of RUSNANO when participating in Investment Funds
Требования Роснано к фондам
RUSNANO commits up to 50% of the Fund. The remaining commitments must come from the 3rd party sources.
Selection of Fund Concepts and Fund Managers on a competitive basis
At least 50% of Fund’s investments (RUSNANO’s share) must go to “nano” related projects with establishment of production in Russia.
Fund’s target IRR should not be less than 20%
RUSNANO requires a negative control over Fund’s investment decisions to ensure that 2 requirements are met (nanotechnology and establishment of production in Russia)
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Types of Funds with participation of RUSNANO (excl. Rusnano Capital)
RUSNANO
Funds for small & medium-size
projects
Industrial & Sectoral Funds
Intergovernmental Funds International Funds
Funds invest in small and midcap companies which develop and produce nano products. Usually they are created as regional funds.
Funds are established in Russian jurisdiction by Russian fund managers.
Funds invest in companies in particular industries. Funds are supported by strategic investors and fund managers with industrial focus.
Funds are established in Russian jurisdiction by Russian fund managers.
Funds are established in furtherance of interstate agreements between Russian and foreign governments
Funds are targeted at “technology transfer” from a particular region.
Funds are managed by world-class VC fund managers
- Skolkovo Fund; - Perm Region Fund; - Russia North Region Fund
- Metallurgy Fund - Russian-Kazakh Fund - DFJ-VTB Aurora
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RUSNANO participation in Funds in numbers (excl. Rusnano Capital)
Funds already approved: 6
Total size of approved funds: approx. US$500 million
Rusnano’s share in approved funds: approx. US$215 million
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• RUSNANOCapitalisaninvestmentmanagementfirmformedbyRussianCorpora<onofNanotechnologiesatthe ini<a<veofthegovernmentoftheRussianFedera<onandregisteredinSwitzerland
• RC mission is to achieve highest returns by inves<ng in advancedtechnologies, providing access to the Russian market and leveragingRussia’stechnologicalmight
• RUSNANOCapital
• Anchorinvestor• AccesstoRussiaforglobalfundsandtheirporEoliocompanies
• AccesstoRussia’sacademicresearchandR&Dexper<se
• ManagementofRUSNANOCapital hassubstan<alexperienceinglobalassetmanagementandinvestmentbanking
RUSNANO CAPITAL Overview
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Key figures
CommitmentsizeFromRUSNANOFrominterna<onalinvestors
Fundsinves<ngperiod
Life
TargetIRR
$2billion$1bn
$1bn
Fourthquarterof2009–fourthquarterof2013
10years
20%‐25%
LegalForm LuxembourgSICARfundorsimilarjurisdic<on
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Roadmap
• Inves<ngalongsideglobalprivateequity,VCandotherhigh‐profileinvestors
• ProvidingaccesstountappedRussianmarket
• DirectaccesstoRussianR&Dcapabili<es• Facilita<ngtechnologytransfer• Commercializa<onofRussiaoriginatedtechnologies
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SectorFocus
Green,alterna<veandrenewableenergy BiotechPharmaceu<cals
Fundinvestmentsarecarriedoutprimarilyinexpansionstagecompaniesincommercializa<onorclosetocommercializa<onphase
Investment criteria
Newmaterialsandtechnology
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Партнеры УК/Фондов
• HistoryandsuccessfultrackrecordinmanagingPEandVCfunds
opera<nginhigh‐technologysector
• Establishedrela<onshipswithins<tu<onalinvestorbase;abilitytoraisecapitalwithintherequired<meline
• Experienceinemergingmarkets
International partner selection criteria
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RUSNANO Capital Board of Directors
Tworepresenta<vesofRUSNANOCorpora<on
AnatolyChubais–CEOofRUSNANOCorpora<on OlegKiselev–DeputyCEOofRUSNANOCorpora<onArepresenta<veofRUSNANOCapitalmanagement
IrinaRapoport‐GeneralDirectorofRUSNANOCapitalTwoindependentdirectors:
LordSkidelsky–Member,HouseofLords
MichaelCarter–formerWorldBankCountryDirectorforRussia,
IndiaandtheBal<cs
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Механизмы контроля
All RUSNANO Capital investments should comply with the approvedinvestmentstrategy
• Par<cipa<onintheInvestmentCommicee
• Par<cipa<oningeneralpartner’sdecisionmakingprocess
• Par<cipa<onontheboardofporEoliocompanies
Means of Control