|
Tamir Fishman announced today winning the second tender of the Government of Russia to establish a Venture Capital Fund "Tamir Fishman Russia" – a fund which will manage 100 million dollars in investments in Russian technological companies. The Fund was established with the support of Russia Venture Company (RVC), a fund of 1.25 billion dollars of the Government of Russia which invests in venture capital fund's. "Tamir Fishman Russia" won the second tender that the Government of Russia held, out of five venture capital fund's that succeeded in reaching this stage. The Russian government will invest directly about 50% of the size of the Fund (about 50 million dollars) through RVC. Similar to the "Yozma" program which was successfully introduced in Israel at the start of the 1990s, the investors that invested the remaining 50 million dollars received an option to purchase the government share at the principal price plus 5%, or the rate of the consumer price index (CPI), whichever lower. This option enables investors in the Fund to benefit from a surplus yield on account of the Russian government's profits. Eldad Tamir, Chairman and joint CEO of Tamir Fishman & Co.: "Russia has excellent attributes in order to become a power in the technological field – a high level of research and education, together with business initiatives and economic growth which is a tremendous opportunity for investors in venture capital. Tamir Fishman has the know-how, experience and network of contacts required in order to become a leading venture capital player in Russia, and it is our intention to leverage our abilities and contacts in order to assist companies in the "Tamir Fishman Russia" portfolio. The Fund's local partner in Russia is CIG (Central Invest Group), a leading Russian investment bank group operating in the field of investment banking, managing investments and brokerage.
|
