Frequently Asked Questions
What are the criteria that are used by the Venture Partner Registration Committee in the application processing procedures?
First, it is a complex of formal criteria, following which an applicant must submit for registration a set of documents indicated in the Regulations, including a Schedule of documents, a application letter, an information card of a Venture Partner (Initiator), a Venture Partner Memorandum, a document certifying the applicant’s obligation to attract private capital to the potential innovative investee of the Fund, and a document certifying that the applicant has paid for Venture Partner registration services. Second, it is a set of evaluation criteria used by the Registration Committee to evaluate the applicant’s specialties, its venture professionals’ competence, to analyze the applicant’s venture capital track record. This expert-analytical approach to application processing is intended to ensure selection of those applicants who operate on the venture capital and private equity market and interact directly with innovative companies.
In the event that registration was refused, how soon can an applicant file a cured application?
An applicant can eliminate grounds for refusal of Venture Partner registration mentioned in the notification of refusal sent by the Fund, and, without difficulty or delay, re-apply for Venture Partner registration in accordance with the procedure established in the Regulations for the System of Venture Partners of the RVC Seed Fund.
The innovative project is only an idea, and no legal entity has been established to launch it. Can the Fund take up such a project?
The Fund focuses on investments into seed stage innovative companies meeting the requirements mentioned in the Regulations. The endorsement of a project with the Venture Partner, as well as its fine-tuning, for subsequent submission to the Fund, includes determination of all required investment parameters and conditions, including a stipulation to establish a legal entity to launch the project—in case there is none. Thus, the investment project, as well as the deal structure submitted by the Venture Partner to the Fund can stipulate the establishment of a legal entity, as well as fix a time period when such a legal entity must be established before the project gets invested from the Fund.
I am an innovator, and I have no investment deal structuring skills. Can I go to several Venture Partners listed on the web-site of the Fund to fine-tune my project?
You can address several Venture Partners with a proposal to fine-tune your project and, via negotiations, select one who offered you optimal conditions. To protect your intellectual property, we suggest that you negotiate confidentiality and information disposal conditions with the Venture Partners you interact with on your project.
In the event of lapse of time for registration (12 months) of a Venture Partner, is re-registration (prolongation of the time for registration) to be paid for?
If, during one year (starting from the date of registration of a Venture Partner), the Fund approves at least one investment project of the Venture Partner, the prolongation will be free. For this purpose, the Venture Partner must within 30 working days apply for re-registration to the Fund in compliance with the form established in the Regulations.