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Posted: Oct 20, 2010
Silicon Valley venture capitalists present projects to RUSNANO
(Nanowerk News) When the international forum Global Innovation Partnerships opened yesterday in Moscow, a delegation of executives from California-based investment funds was there to meet RUSNANO. Collectively, these investors manage portfolios exceeding $100 billion. Among the guests were Silicon Valley founders: Franklin "Pitch" Johnson, founding partner of Asset Management Company; C. Richard Kramlich, general partner and co-founder of New Enterprise Associates, and Dixon Doll, co-founder and general partner of DCM and others.
Projects identified for discussion during the October 11–14 visit have budgets totaling one billion dollars.
This is the second recent visit of high-profile American technological entrepreneurs to Russia. The first visit with representatives of RUSNANO occurred in May 2010. As a result, seven investment projects are in preliminary stages of expert evaluations at RUSNANO today. They include projects in solar energy, microelectronics, medicine, and biotechnology. Forecasted size of investment in these projects, excluding financing from RUSNANO, is $375 million. RUSNANO is also analyzing 200 portfolio company-delegates of the May visit for compatible interests and possible cofinancing.
In the photograph, left to right: Dick Kramlich, Dixon Doll, Anatoly Chubais, and Alexandra Johnson (DFJ-VTB Aurora).
"These were substantive and encouraging meetings," said RUSNANO CEO Anatoly Chubais. "We looked at several types of collaboration. Project companies of American investors could be interested in developing business in Russia for which we would be interested in acting as coinvestor. And there is the possibility of joint venture funds; our partners have superior knowledge of global nanotechnology markets and may be able to provide a flow of competitive projects, a factory, in the best sense, of new technological businesses. Finally, RUSNANO has 93 projects at the moment, and it is entirely possible that some of our guests will be interested in a role as coinvestor and developer of those businesses in international markets, including the United States."
"Russia is going through an interest stage of development," observed New Enterprise Associates founder Dick Kramlich. We see the first wave of technological entrepreneurship. I think it is vitally important to promote those technologies in which Russia holds the lead, areas like materials sciences, nuclear technologies, energy. I would put medical technologies on the list of forefront positions.
"During our discussions, we were able to define sectors where the experience and knowledge of our Russian colleagues are the most competitive," said DCM general partner Dixon Doll. Developing software support, alternative energy, nanotechnologies, these are Russia's strong suits, and they open new opportunities for Russian scientists and engineers."