The Russian Investment Fund for information and communication technologies (Rosinfocominvest) was adopted by the Governmental Decree of the Russian Federation (Decree of August 9, 2006, N 476). On October 2007 the Charter of the Fund was registered.
The Fund organized for developing Russian IT companies, by investing to innovation projects and perspective technologies on start-up level. The activities of the Fund are focused on IT-sphere on the first stage of realization. It is planning to invest the amount of 100 million Russian rubles (4 million US Dollars) for each investment project.
The amount of resources, which will be received from the federal budget, is 1 billion 450 million Russian rubles (59 million US Dollars). The same amount will be attracted through the open underwriting for the Fund’s stocks. The financing of projects will be executed only after lowering the federal share of nominal stocks to 50% plus one stock in the year of 2008. In 2009 the federal share of nominal stocks in the Fund’s charter capital will be lowered to 25% plus one stock. In 2010 the state will completely lost the share in the Fund’s charter capital.
The foundation of the Fund is one of the successful precedent of creation the public-private partnership with securing of strategic priorities for development of one of the basic branches of economy, which is provided the lowering of political risks and prognosis the placement in the most effective sectorial projects.
The Fund is interested for establishing the strategic relations with the leading investment institutions and structures, large venture capital entities, which are focused on both established and new technologies that help to develop and facilitate new usage models, advance the computing and communications platforms. The Fund is ready for mutual participation in realization of its programs and projects in IT-sphere and supporting the perspective innovation Russian companies.
