Partnering with the Russian company Rusnano and the government of Perm, Nanostart AG plans to launch a nanotechnology-focused investment fund in Russia. The fun, Kama Fund First, will invest roughly 50 million euros ($72.6 million). Nanostart will invest up to 25% of the fund volume, 12.5 million euros, as well as manage the fund.
Together with the Russian company RUSNANO and the Governor of the administrative district Perm, Nanostart AG (OTCQX: NASRY) is launching a nanotechnology fund in Russia. RUSNANO is a joint-stock company with assets of more than 10 billion US dollars, making it the financially strongest nanotechnology investor in the world. Nanostart has joined forces with the company for its market entry into Russia. The jointly launched Kama Fund First encompasses a volume of 2.0 billion rubles or nearly 50 million euros.
The purpose of the fund is to provide growth financing for young, promising
nanotechnology companies in the administrative district Perm. Nanostart AG
will invest up to 25 percent of the fund volume, 12.5 million euros, as
well as manage the fund. RUSNANO and the governor of Perm are investing
equal amounts for a total of 37.5 million euros, which represents 75
percent of the fund volume. In addition to the shareholding, as fund
manager Nanostart receives a carried interest of up to 25 percent as well
as an annual management fee totaling 3 percent of fund volume.
For Nanostart, the fund marks a prelude to business activities in Russia.
‘We have systematically investigated the Russian nanotechnology scene’,
said Marco Beckmann, CEO of Nanostart AG. ‘With growing interest, we became
acquainted with the Perm region. That we are working exclusively with
RUSANO and the governor of Perm, Mr. Oleg Chirkunov, is a tremendous
testament to our work. But the most rewarding affirmation for us is the
recognition that we have developed into a leading growth investor for
‘I view Kama Fund First as a generator of promising nanotechnology projects
that will grow in their next stage of development, with financial
participation by RUSNANO, into significant businesses’, said Anatoly
Chubais, Chairman of the Executive board of RUSNANO. ‘It is heartening to
us that one of the leading investment companies in nanotechnology will
invest in the fund and manage it. This is the same smart money that is
essential for the development of an innovation economy.’
Nanostart found ideal conditions for the fund in Perm. Governor Oleg
Chirkunov is developing the region into a technology pioneer. The emphasis
is on development, commercialization, and application of nanotechnology
products. According to RBC Daily, Perm is among the Top 10 most innovative
regions of Russia.
The fund is part of an initiative by the Russian government to develop into
a high-tech nation. The goal is to be one of the most important countries
in the world for the production of nanotechnology-based products. This
progress is mainly driven by the Russian company RUSNANO. The former
government holding has been a stock corporation since March 2011. It
promotes the commercialization of nanotechnological innovation and the
development of necessary infrastructure to support projects. The equivalent
of nearly 10 billion dollars has been made available.
Nanostart was selected from among several renowned international
competitors during the fund application process. This cooperation with
distinguished Russian partners is further proof that Nanostart AG has
established itself as a leading and sought-after expert for nanotech
investment. Through the fund, which should last up to 10 years, Nanostart
will benefit from the growth potential of nanotechnology in Perm and
Russia. Russia has set a goal to become a leading producer of
nanotechnology products by 2015. The Kama Fund First is named after the
Kama River, which flows through the region.
The fund was introduced to the international media today by Anatoly
Chubais, Oleg Chirkunov, and Marco Beckmann in Moscow.
Nanostart AG will present more information about its market entry into
Russia, the Kama Fund First, and its partners in an open Web conference
(ONLY GERMAN) on April 27, 2011. For more information please visit the
Nanostart AG (OTCQX: NASRY), is the world’s leading nanotechnology
investment company. Headquartered in Frankfurt am Main, it invests venture
capital in nanotechnology companies in various development phases.
Investments are focused on companies in the most innovation-driven
segments: cleantech, life sciences and IT/electronics. Through its
wholly-owned subsidiary in Singapore, Nanostart invests in nanotechnology
companies in Asia in conjunction with the government of Singapore. For more
information on the company, please visit www.nanostart.de.
RUSNANO was established in March 2011 as an open joint-stock company
through reorganization of state corporation Russian Corporation of
Nanotechnologies. RUSNANO’s mission is to develop the Russian
nanotechnology industry through co-investment in nanotechnology projects
with substantial economic potential or social benefit. The Government of
the Russian Federation owns 100 percent of the shares in RUSNANO. Further
Russian administrative region Perm is located in the far eastern part of
Europe, just west of the Ural Mountains. It is among the most important
industrial regions of Russia. Innovative industries and technologies are
becoming increasingly important to the international competitiveness of the
region. Nanotechnology is playing a central role – projects and companies
in this area are benefiting from extremely positive conditions and the
availability of financial support. Website for the Perm region:
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offering (IPO) of securities of Nanostart AG is taking place in connection
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