First published on the Cleantech Investor website, July 2012
I2BF has announced the launch of the I2BF-RNC Strategic Resources Fund, in partnership with Russian government owned Rusano Capital (RNC). The seven-year fund has a remit to invest in later-stage nanotechnology companies. The target investments, which will be international, will focus on the resource sector, water and agriculture and should have applications of value within the Russian Federation.
The partners have committed US$53m to the fund, which has a target size of US$150m. According to Ilya Golubovich, Managing Partner of I2BF Global Ventures, the nanotech market is "fast-maturing" and it is therefore important that the fund is "...now able to offer expansion capital to larger companies with proven technologies." Golubovich added that:
"The opportunities to roll out nanotech applications and also production facilities in Russia are widespread and we will be using our global footprint to channel the best technologies into this market.”