RCIF AND TUS-HOLDINGS TO CREATE RUSSIA-CHINA VENTURE FUND

RCIF AND TUS-HOLDINGS TO CREATE RUSSIA-CHINA VENTURE FUND November 09, 2016, 16:18

Russia-China Investment Fund (RCIF) and Chinese company Tus-Holdings have agreed to establish a joint Russia-China Venture Fund (RCVF). The fund will promote the development of trade and economic, investment, scientific and technological cooperation between the Russian Federation and the People’s Republic of China. The agreement was signed today during the session of the Russia-China Business Advisory Committee.

The RCVF target size will be up to $100 millionand may be further increased, RCIF and Tus-Holdings will be anchor investors. There will likely also be participation from other Russian and Chinese institutional investors. The fund will focus on identifying attractive investment opportunities among high-tech companies and start-ups in Russia that have the potential for further development in the Chinese market. This will include such areas as information technology in the financial sector, big data, cloud technologies, biotechnology, biomedicine, clean energy, new materials, smart technologies (including robotics) and data transmission.

Kirill Dmitriev, Co-CEO of the Russia-China Investment Fund (RCIF), noted:

«During our work with our Chinese partners, we have seen strong interest in Russian high-tech projects. We are pleased to announce the creation of a special fund, which will unlock the investment potential in this area. RCIF and Tus-Holdings have begun the process of establishing the Russia-China Venture Fund and have already received positive responses from a number of institutional investors from China.»

Yuan Wei, President of the Tus-Holdings, said:

«TUS HOLDING passed the 22-year-old path of development. Since the construction and operation of industrial park, today we have developed a full range of business activities, including technology finance, technology real estate, technology services, technology industry and others. In particular, Tus-S & T Service Co., Ltd is currently the largest company in technological servicesinChina, its activities cover the incubation and commercialization of technological developments, as well as the full cycle of technology investments. This company has a strong team that works with Russia. I am convinced that their cooperation with Russian partners will lead to success.»

Source: https://rdif.ru/Eng_fullNews/1841/

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