Russia Partners Technology Fund

Location:

Regional

Project number:

42338

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

12 Jul 2011

Status:

Disbursing

PSD disclosed:

19 May 2011

Project Description

The EBRD is considering an equity investment of up to USD 75 million in Russia Partners Technology Fund L.P. (“RPTF” or the “Fund”), a private equity investment fund to be registered as an exempted limited partnership under the laws of the Cayman Islands.

The Fund will seek equity and equity-related investments in technology and innovative business sectors operating primarily in Russia Federation but also in other CIS countries with a view to achieve long-term capital growth.

Transition Impact

The transition impact and demonstration effects of the proposed project are expected to be achieved by:

(a) supporting the private equity asset class, particularly the venture capital industry, in Russia/CIS, where the Bank will play demonstrative role as the fundraising market remains quite challenging
(b) building high-quality local institutional providers of disciplined venture capital financing in Russia/CIS region, who will contribute to the greater diversification of the private equity and financial services industries, as well as assist in bridging the considerable financing gap for innovative technology-focused businesses in the currently underdeveloped venture capital landscape in Russia/CIS
(c) strengthening the knowledge and innovation-based economy in Russia and CIS, bringing know-how and competencies to the Fund’s portfolio companies which will have a visible positive impact on productivity improvement, wealth creation, diversification and growth quality of Russian and CIS economies
(d) improving and enhancing transparency and high standards of corporate governance in portfolio companies through the promotion of international best practices

The Client

The Fund will be managed by RPTF Capital, LLC, a limited liability company incorporated under the laws of the Cayman Islands.

Russia Partners is one of the leading and well-established private equity firms in Russia, with operational offices in Moscow, Samara and Kiev staffed by over 40 investment professionals. The Russia Partners' parent entity, Siguler Guff & Company, LP, is a multi-strategy US based private equity investment firm, managing over USD 10.0 billion of assets from institutional and high-net-worth individual investors worldwide.

The firm has offices in the U.S., Russia, China, India, and Brazil.
Russia Partners has raised and managed five private equity funds totalling c. USD 1.0 billion of total commitments, two of which are currently active and have EBRD among their investors.

EBRD Finance

The EBRD is proposing to make an equity investment of up to USD 75 million.

Project Cost

The target Fund size is USD 250 million with a hard cap of USD 300 million

Environmental Impact

The Fund shall comply with the EBRD's Performance Requirement 2 (Labour and Working Conditions) and Performance Requirement 9 (Financial Intermediaries).

RPTF shall ensure portfolio companies comply with national environmental and OHS and labour standards.
The Fund will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit annual environmental and social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Drew J. Guff, Managing Director
Siguler Guff & Company, LP
825 Third Avenue, 10th Floor
New York, NY 10022
Tel: +1 (212) 332-5100
Fax: +1 (212) 332-5120
Email: drewg@sigulerguff.com

Vladimir Andrienko, Managing Director
Russia Partners Management, LLC
Stoleshnikov per. 14, 2nd Floor
Russia, Moscow, 103031
Tel: +7 495 234 3095
Fax: +7 495 234 3099
Email: vandrien@rp.co.ru

 

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

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Text of the PIP

Project Complaint Mechanism (PCM)

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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.