Moscow Seed Fund, the venture arm of the Moscow city authorities, has announced its latest competition to recruit investors for joint seed and pre-seed stage investment in their projects. The fund is looking for individual investors and companies, both Russian and foreign.
As part of its programme, the fund offers concessional loans to innovative projects at the seed and pre-seed stage. These come in combination with investment from private investors selected during its competitions. The maximum loan offered is $208,000. The loan is only granted on the receipt of funds from a private investor, thus doubling the amount of funding received by the projects involved.
There are currently 28 investors working with the Moscow Seed Fund, including various other funds and business angels. The average investment in a project is $157,000. 30 projects have already received investment through the fund’s programme.
The process of taking on new investors will take place from 1st to 31st October 2014. The results of the process will be announced on 5th December. All documentation and details of how to take part can be found here (in Russian) on the Moscow Seed Fund website.
Source: RusBase.vc
