RT-Invest, the investment arm of the Russian Technologies State Corporation, has launched a closed private equity fund called “RT-Invest Global Technology I.”
The new fund is in fact a sub-fund of the $400 million Global Technology Fund, explained RT-Invest PR representative Victoriya Mikhalchenko in an exchange with East-West Digital News. It was created to invest in fast-growing companies in Russia and the CIS, but it “also plans to invest in foreign companies with a view towards expanding their business to Russia,” she added.
The exact size of RT-Invest Global Technology I has not been disclosed, but “it is enough to make a number of transactions in the $30-$50 million range,” said Mikhalchenko. The fund is interested in investing in companies at stage B and later, meaning that it looks mostly at established businesses, particularly in the IT area. The estimated rate of return is 25 to 30%.
“What we are targeting are specialized billing and information processing companies in aviation and municipal utilities sectors,” Mikhalchenko said, noting that one such transaction was currently being structured.
RT-Invest was founded in 2012 and specializes in direct investments in Russia and abroad. In December 2012 the company invested an undisclosed sum in National Distribution and Settlement Systems, which works in the Russian aviation technology sector.
