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RUSSIA: CHALLENGES AND OPPOTUNITIES

RUSSIA: CHALLENGES AND OPPOTUNITIES. WWW.RUSVENTURE.RU. INNOVATIONS. INFRASTRUCTURE. A special economic development institute. STIMULATING. Industrial Special Economic Zones Seaport Special Economic Zones Tourist Special Economic Zones.

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RUSSIA: CHALLENGES AND OPPOTUNITIES

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  1. RUSSIA: CHALLENGES AND OPPOTUNITIES

  2. WWW.RUSVENTURE.RU INNOVATIONS INFRASTRUCTURE A special economic development institute STIMULATING Industrial Special Economic Zones Seaport Special Economic Zones Tourist Special Economic Zones Technology and Development Special Economic Zones Technology Parks Russian Development Bank Russian Investment Fund Concession Agreements Russian Venture Company Regional Venture Funds (over 20) Russian Nanotech Corporation INVESTING

  3. WWW.RUSVENTURE.RU First venture funds

  4. WWW.RUSVENTURE.RU New mission, new funding RVC capital is being doubled to RUB 30 billion USD 1.25 billion RVC mission is being expanded: Finance new segments of innovation companies Do hi-tech market development work

  5. WWW.RUSVENTURE.RU Investment scope expanded Seed financing Range - RUB 1 to 10 million (USD 40K to 400K) Capital contribution, refundable (or convertible) only if and after startup is venture funded Later stage Several later stage funds may be created in 2008-2009 Will operate in between early stage funds and private equity funds (as 2nd and 3rd round investors) Will have a smaller share of RVC money and less generous buyback rights but less restrictive fund terms Co-financing of venture funded companies RVC can provide matching funds to deals with Russian startups led by an eligible VC (Russian or international) Same tech eligibility criteria will apply

  6. WWW.RUSVENTURE.RU New high-tech market development functions Russian Venture Company has been entitled by the Government to perform new market development functions as a organizer and finance provider TRAINING AND EDUCATION: Professional training for entrepreneurs and other key professions in innovation ecosystem MARKET KNOWLEDGE: Research of innovation-related markets and industries in Russia and worldwide, to be published for public use INTERNATIONAL: Relations with leading high tech clusters around the world for the benefit of cooperation between startups, tech corporations, research universities, venture funds and tech ecosystems PROJECTS: Other innovation-related projects, based on capacity and market need

  7. Investment legislation reform Examples US SEC Regulation D EU European Prospectus Directive Possible uses Venture funds Private equity funds Hedge funds Real estate funds Asset planning Status: State Duma 2nd reading: passed Nov 6, 2007 Becomes a law: E 1H 2008 • Concept of a «qualified investor» • Asset size • Experience in securities markets • Funds «for qualified investors» • Can be commitment based (money is contributed to fund on demand) • Right to keep reporting private • Right to create an investment committee with the power to approve and veto deals • Can charge increased fees • Other exceptions defined in fund charters WWW.RUSVENTURE.RU 17

  8. WWW.RUSVENTURE.RU Innovation economy landscape

  9. WWW.RUSVENTURE.RU Innovation economy landscape

  10. WWW.RUSVENTURE.RU Service infrastructure potential

  11. Emerging venture capital boom Europe,May, 25, 2007, 12:39PM EST Russia's Venture Capital Boom Tech startups in the Federation are coming of age and starting to attract serious VC funding from the U.S. and Europeby Jennifer L. Schenker …To encourage such investments, the Russian government has set up a trust that matches investments from private venture capitalists. Already, it has agreed to dispense nearly $100 million to three groups of investors. Among them: Asset Management, run by legendary Silicon Valley venture capitalist Franklin "Pitch" Johnson, which has secured $52 million in matching funds from the Russia government for a new investment vehicle called Bio-Process Capital Partners. The Russia-based fund will scope out investment opportunities in biotech. …. …To be sure, Russia still lags far behind other global destinations for venture capital. Since 1999, foreign venture capitalists have invested only about $300 million in total in the country's tech companies, says Yuri Ammosov, the adviser to Russia's minister of economics, who is overseeing the government's new investment fund. That's less than venture capitalists invested in China in the first quarter of this year alone, according to figures from Ernst & Young. …. WWW.RUSVENTURE.RU

  12. RUSSIA 2.0

  13. WWW.RUSVENTURE.RU CONTACT OJSC “Russian venture company” Office 42, 3-4 Kapranova lane, Moscow, 123242, Phone: +7 495 777 01 04 Fax: +7 495 777 01 06 E-mail: info@rusventure.ru Web-site: www.rusventure.ru

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