Civil Technologies, ltd
About the Fund
«Civil Technologies, ltd», or the Fund, is a limited liability company established on February 21st, 2013, under the Key Principles of the Corporate Strategy of OJSC «RVC» and the Strategy of OJSC «Ramenskoye Design Company».
The participants of the Fund are RVC OJSC (50%), RDC OJSC (10%), and Science, Technology, and Innovation Development Fund (40%).
The managing company for the Fund is RVC Seed Fund, ltd.
Civil Technology of MIC is a targeted fund created as an investment tool facilitating access to the Russian and international markets for MIC technologies and projects.
The main goals of the Fund include:
- Extensive introduction of promising civil technologies of highly competitive Russian companies( including those operating in the sector of military-industrial complex (MIC)) into commercial operations,
- Encouragement of Russian investments into start-ups and seed stage companies engaged in activities listed among the critically vital technologies for the Russian Federation and operating in the sectors of high-tech tools making, microelectronics and special-purpose micromechanics, imaging tools, precision navigation, new materials, integrated systems (software, intelligence and management systems), welding, soldering and heat treatment technology.
Profile of the Fund
- The amount under the Fund’s management – 1 bln. RUR, it is planned to raise additional capital in the amount up to 1.5 bln. RUR.
- The Fund’s active investing period – 7 years;
- The Fund grants convertible notes of not more than 5,000,000 RUR to innovative companies;
- The Fund makes equity investments of up to 30,000,000 RUR at the first investment round;
- The Fund co-invests together with strategic or venture investors (including second investment rounds) in the amount up to 100,000,000 RUR;
- The Fund allows any legal or financial terms for the transactions to the extent permitted by the law of the Russian Federation;
- The Fund operates under the management of the RVC Seed Fund, Ltd., its Managing Company, working in cooperation with the Regional Partners;
- All investment decisions are taken and approved by the Investment Committee of the Fund (Management Board).
The Fund operates together with it’s Regional Partners and Project authers, since they have access to the scientific, material and technical, and financial resources.
The Investment Policy (strategy) of the Fund assumes deriving revenue from investing the Fund’s money into the shares and other securities of the Russian seed stage companies, the operations of which lie in the priority areas of science, technology, and engineering in the Russian Federation, especially where such companies focus on tools making, creation of new materials, and integrated systems (intelligence and management systems).
Target profit and commercialization ability in the MIC sector may be lower than standard profitability of venture investments, but in any case the Fund’s IRR must exceed 20%.
The Fund’s investment tools may include any legal or financial transaction terms to the extent permitted by the law of the Russian Federation.
The Fund’s Investment Policy (Strategy) is detailed in the Fund’s Investment Statement (Memorandum).
The Fund’s Management Board (Investment Committee):
Members of the Civil Technologies Fund’s Management Board (Investment Committee):
- Andrey V. Bukhanov (Science, Technology, and Innovation Development Fund);
- Gennady V. Gruzdkov (PELANA, ltd.);
- Natalya V. Polyakova (RVC OJSC);
- Vadim V. Strenalyuk (ROSTECHNOLOGY SC);
- Mikhail A. Kharuzin (RVC Seed Fund, ltd);
- Aeksandr N. Chernykh (GosNIINAS FGUP);
- Konstantin V. Shelepen (RDC OJSC).