Almaz Capital Russia Fund I

Location:

Russia

Project number:

40663

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

21 Oct 2009

Status:

Disbursing

PSD disclosed:

18 Sep 2009

Project Description

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.

Transition Impact

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.

The Client

Almaz Capital Partners Ltd is a Cayman Island limited liability company.

EBRD Finance

Commitment to invest up to $33 million. Other investors are expected to include European and US institutional investors.

Project Cost

The maximum size of the Fund is $125 million, with a target size of $100 million.

Environmental Impact

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.

Technical Cooperation

None.

Company Contact

Peter Loukianoff, Managing Partner
123458, Russia, Moscow
Tvardovskovo Street 8

Tel: +1-650-444-7774
Mobile: +7 985 783 6619
E-mail: peter@almazcapital.com

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.

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