RVC Infrafund invested into IIDC

The International Innovation Development Center (IIDC) will be the second portfolio company of the Fund of Infrastructure Investment (Infrafund) of the Russian Venture Company (RVC), innovation and venture news source UNOVA reports citing RVC.

The deal was reportedly signed earlier this month, the Infrafund’s share in the center’s charter capital will total 51%. Under plans, the IIDC will help innovators in promoting their projects on world markets through providing legal services, assistance in finding business partners and ensuring protection of intellectual property.

The co-investor in the deal was the investment company Rikom-Trust.

Main consumers of the services of the international center will be Russian and foreign companies – services providers, consumers of innovation solutions and products, regional governments and ministries, realizing sector programs.

Under the project, the IIDC will become an important link in the interaction between the European Union and Russia. “This will help to raise European venture capital into Russian projects, as well as to organize transfer of successful technologies into domestic companies,” RVC said.

“The most efficient way to increase innovation potential of the Russian economy is to include creators of innovations into existing production processes to the maximum level, on the global level as well. Undoubtedly, domestic innovation market will be sooner or later fully integrated into international market. Decision of the fund’s investment committee on creating the service company, which will be able to efficiently promote domestic innovation projects and products at the markets of the EU and South-Eastern Asia, using various promotion channels, will be timely and necessary,” Svetlana Reznik, the director of the RVC Infrafund, said.

Igor Agamirzyan, the general director of RVC, in his turn added that the main goal of creating the international center is “ensuring opportunity of comfortable two-sided interaction of Russian and foreign investors with national and foreign innovators, creating conditions for raising investment and competencies, stimulating increase of the flow of deals and transfer of technologies.”

“This way, with its second deal the RVC Infrafund made another contribution into development of infrastructure of innovation and technological entrepreneurship of the country,” he concluded.

Innovation firm Business-Zhurnal (Business-Magazine) became RVC Infrafund’s first portfolio company in the end of last year.