By Andrei Skvarsky.
Russia’s state-owned RVC fund of funds for high-tech promotion and defence firm Ramenskoye Instrument Design Bureau (RPKB) have set up what is the Russian military industry’s first-ever venture fund to invest in civilian high-tech projects.
The Defence Industry Civilian Technologies fund will have 1bn rubles ($31m) under management and will be managed by RVC’s 2bn-ruble ($62m) Seed Investment Fund, according to a statement from RVC.
RVC, which is headquartered in Moscow, has a capital of 30bn-ruble ($100m).
RPKB, which is based in the Moscow suburb of Ramenskoye, is a designer of electronic equipment for aircraft, spacecraft, ships and automotive vehicles.
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