RVC, the Russian government’s fund of funds for innovation, and GK Pilot, a leading local systems integrator, have co-invested in “FABRIKA,” an IT park in the southern Russian city of Astrakhan. RVC’s involvement comes through its tributary Infrafund, which is dedicated to financing infrastructure initiatives throughout the country.
The investment amount has not been disclosed, but the IT Park will use the money to develop consulting services for residents, including a special program to “catalyze innovative projects.”
The IT Park expects to establish partnerships with five VC funds and about 50 angel investors by the end of the year.
The Park also has plans to collaborate with tech universities outside the lower Volga region, with an eye to bringing to Astrakhan some of the most advanced teams working in IT.
FABRIKA is Russia’s first privately owned techno-park. It accommodates the LIFT business incubator that offers services in screening, evaluation, packaging and acceleration of IT start-ups.
Source: RVC
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