State-owned Russian Development Bank (RBD) will allocate at most 300 million rubles for the capital formation of the Modernization, Innovation and Development direct investment fund (MID). RBD has formed partnerships with Russian as well as foreign investors, including German bank KfW.
The fund will finance individual projects with up to 60 million rubles ($2 million). For 2011, the fund plans to launch five projects with a total investment value of 260 million rubles ($86.7 million).
The direct investment fund has been set up to invest in the long term capitalization of small companies, specifically avoiding sensational exit strategies, according to RBD.
Source: Unova
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