The EBRD is considering investing up to $33 million in a regional venture capital fund with a target size of up to $100 million. The Fund will make equity and equity-related venture capital investments in companies based in Russia and the CIS. The companies targeted by the Fund will be Telecommunications, Media and Technology (“TMT”) companies. Depending on the stage of the target company, the Fund will make equity investments ranging from $100,000-$500,000 in early stage companies to $ 4 million-$10 million in later stage companies.
The transition impact of the proposed project would come from the following areas: Market expansion and demonstration effect of VC financing in Russia and the CIS, as well as from the demonstration effects from successful restructuring of investee companies and corporate governance standards.
Almaz Capital Partners Ltd is a Cayman Island limited liability company.
Commitment to invest up to $33 million. Other investors are expected to include European and US institutional investors.
The maximum size of the Fund is $125 million, with a target size of $100 million.
The Fund will be required to implement environmental procedures based on EBRD’s Environmental Procedures for Private Equity Funds which includes adherence to the FI Environmental Exclusion and Referral List, compliance by Investee companies with the applicable national environmental, health and safety and labour legislation, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submission of annual environmental reports to EBRD.
Peter Loukianoff, Managing Partner
123458, Russia, Moscow
Tvardovskovo Street 8
Mobile: +7 985 783 6619
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