Sberbank and RVC will create a fund for $ 100 million to invest in technology and science-intensive startups at an early stage.

The partners intend to “grow” unicorn startups that will be competitive in the global market.

  • The companies announced the creation of a fund for investments in technology and science-intensive startups. The fund will invest in startups that operate in Russia or plan to enter the Russian market in the future.

  • The parties plan to ensure the “synergy” of startups with projects that are part of the Sber ecosystem, as well as to involve international partners of the state fund RDIF, which includes RVC, in their development.
  • RVC and Sberbank did not answer questions from about how the fund will select startups, how much to invest in each project and under what conditions.
  • “Together with RDIF, we want to create a culture of high-tech and science-intensive entrepreneurship in Russia in order to grow unicorn startups that will be competitive on the world stage,” said Sberbank CEO German Gref.
  • Gref added that the creation of a fund for investment in startups at an early stage is “the first step towards the implementation of the strategy of innovative development and the reform of development institutions being developed by the Russian government.”

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