A trade delegation of 25 leading European venture capital firms and top executives of major international technology corporations is visiting Russia this week to participate in the Second International Trade Delegation on Global Innovation Partnerships (GIP).
The initiative aims to connect European and Russian investors and innovative businesses in such emerging high technology areas as cleantech, biotech, aviation and aerospace related technologies.
GIP venture capitalist delegations will include representatives from Amadeus Capital Partners, DFJ ESPRIT, Earlybird Venture Capital, Emerald Technology Ventures, Endeavour Vision, Environmental Technologies Fund, HealthCap, Index Ventures, Mangrove Capital Partners, Medical Valley, Philips Venture Capital Fund BV, Siemens Venture Capital, Triangle Venture, TVM CAPITAL, Wellington Partners and Wheb Ventures.
After meeting in Moscow, the European VCs and business executives will visit Kazan, Tatarstan.
The visit is being organized by the European Private Equity and Venture Capital Association (EVCA) and GIP in cooperation with the Russian Venture Capital Association (RVCA), and the Investment and Venture Fund of the Republic of Tatarstan.
“I hope that state borders will not be a constraint for investments […] as the Russian government sets a course for economic modernization and looks to establish a firm position on global markets,” commented RVCA Executive Director Albina Nikkonen. “And I hope that investors will consider Russia not just an incubator for ideas but as a comfortable territory to create and to do business — just as it has already become for many transnational and European corporations.”
“In the world of venture capital investment, transparency, accountability and openness are indispensable conditions for successful integration into the global market. Establishing and maintaining a system of direct and regular communication between domestic venture capital companies and their foreign counterparts is a key way to ensure these conditions are met and is the most important task,” said Igor Agamirzyan, CEO of the Russian Venture Company (RVC), a state owned fund of funds dedicated to innovation.
Global Innovation Partnerships is a joint project of the RVC, state owned Rusnano, the Skolkovo Foundation, which is building an ambitious innovation hub near Moscow, and the Global Technology Symposium, a leading investment conference on venture capital, technology, and entrepreneurship in emerging markets.
Source: GIP
