State fund Rosinfokominvest to start financing in April

The state fund, Rosinfokominvest, set up for financing projects in the telecommunications and IT spheres, is set to start working in April with 1.5 billion roubles in capital.

Presidential adviser Leonid Reiman told RT the investment model will be based on Private-public partnership and won’t be limited to only IT companies, but new media and internet companies.

“The idea to create the fund appeared about 3 years ago. It’s a classical public-private partnership aimed at supporting start-up telecommunication companies which have no assets to pledge if they want to get credit. The fund will get 100 million with half of that given by the state and the rest by private investors both Russian and foreign.”

RBK daily wrote in an early March report that possible investment partners could be Almaz Capital, Intel Capital, ROSNO and VTB.

Almaz Capital Partners managing partner, Aleksandr Galitsky, confirmed the partnership and discussed the perspectives for investment into new media and internet as well as IT.

“These directions seem to us to be the most promising.”

Galitsky also said that his company has already presented a few projects to Rosinfokominvest that could be attractive for investment.