Earlier this month Rosatom, the Russian state atomic energy corporation, announced that it will inject up to 3 billion rubles ($47.5 million at the current exchange rate), along with other LPs, in a new venture fund christened ‘Digital Evolution Ventures.’
The fund will focus on business solutions for a range of promising industries, not only nuclear related, told us Evgeny Kuznetsov, General Director of the fund’s managing company Orbita Capital Partners.
The fund will target early and seed-stage startups, as well as more mature companies in the fields of artificial intelligence, digital solutions for industry and service applications, renewable and smart energy, 3D printing and new materials, as well as development systems for smart and energy-efficient cities.
“We may invest both in Russia and internationally,” Kuznetsov said.
The fund seeks “to create an effective mechanism involving both governmental and corporate instruments to boost the Russian startup ecosystem,” refering to such national programs such as National Technological Initiative, Digital Russia, and Skolkovo.
Rosatom had already announced this corporate venturing inititaive in October last year.
