I2BF Global Ventures and VTB Capital announce the launch of a sovereign-backed USD 100m Russia Kazakhstan Nanotechnology Fund

A USD 100m nanotechnology venture fund has been announced by joint managers VTB Capital and I2BF Global Ventures, with cornerstone backing from the Russian state nanotechnology fund RusNano and Kazyna Capital Management, the sovereign wealth fund of the Republic of Kazakhstan. These entities have committed USD 25m each to the new fund, with VTB Capital and I2BF expecting to raise a further USD 50m from external investors. The agreement was signed on December 21st 2011 in Almaty at a ceremony attended by Aset Isekeshev, Vice-Premier of Kazakhstan and Minister of Industry and New Technologies, and will soon be followed by the opening of offices in Moscow and Almaty.

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