Skolkovo to form partnerships with 50 venture investors in 2012

The Skolkovo Fund expects to sign agreements with almost 50 Russian and foreign venture funds in 2012, up twice on 2011, news agency RIA Novosti reports citing Aleksandr Lupachev, the investment director of Skolkovo.

Last year the Skolkovo Fund help three events aimed at raising external investment into projects of companies-participants of the innovation center, such as two venture fairs of clusters of energy efficient and biomedical technologies in Moscow, and the road-show of the companies of the IT-cluster in the USA.

“As of now, we have accredited 26 venture funds, including seven foreign funds. Considering the low place Russia holds in the venture world, this is a large success,” the investment director said.

“Now accredited venture funds are shareholders in 34 resident-companies of the innovation center,” Mr. Lupachev said. He added that out of almost 70 companies that have already received Skolkovo grants on their projects, 14 have been financed by Skolkovo jointly with these venture funds. “In just one year we have achieved a rather good penetration into the venture market,” the investment director said.

According to Mr. Lupachev, Skolkovo’s goal is to double the number of accredited venture funds. “We want to reach the number of 50 funds by the end of the year.”

In his words, Skolkovo in 2012 expects to double amount of “soft” liabilities (funds, potentially available for investment). “Now this sum is about $300m, we aim at about $500m. By the end of next year we want to practice parity financing of our projects between the Skolkovo fund and venture investors,” Mr. Lupachev explained.

Under plans, for raising investment the fund intends to continue practice of venture fairs and road-shows of its companies from various clusters of Skolkovo.

Earlier a source in Skolkovo told RIA Novosti that this year the center planned to organize road-shows of about 10 companies from the cluster of energy efficient technologies. This event will most likely be held in summer in France.