Asian Venture Companies Ready to Invest Money and Technology in Russia
MOSCOW, October 7, 2012 /PRNewswire/ --
On 2-4 October the third Forum "Global Innovation Partnerships - 2012" was held in Moscow. The largest delegation of venture capital investors and heads of investor associations from China, Hong Kong, South Korea visited the Russian capital.
"Korea is interested in investment cooperation with Russia in hi-tech," said Jin-Taek Park, head of Korean Association of Venture Investors. "We know that in Russia there are various well developed technologies, Korea also has good achievements in this area. Therefore, our joint efforts in this direction could be more effective. Korean companies can invest not only money, but also the technology. This will help companies in Russia enter international markets," he said.
Jin-Taek Park said that "the Russian innovation sector is of a serious interest for the Korean venture investors". He mentioned that the first contacts with the representatives of the Russian government and investors appeared to be very effective.
"Chinese venture capital investors also express interest in expanding cooperation with Russia. We have officially signed a strategic agreement with the Russian Venture Capital Association (http://www.rvca.ru). We believe that these efforts will play an important role in the development of self-regulation of the industry, uniting capital, and creation of new businesses," said Zhigun Shen, Executive Vice President of China Venture Capital and Private Equity Association.
It is necessary to create an appropriate mechanism between the venture capital associations of Russia, and APAC countries , mentioned participants of the Forum. Mr. Shen noted that such cooperative relationship already exists between China and the associations of the US, Germany, UK and Japan.
The third Forum was attended by representatives of CITIC Capital Holding; SAIF Partners; CDH Investments; Northern Light Venture Capital; Shenzhen Capital Group Co., Ltd; Sequoia Capital China; China Venture Capital and Private Equity Association; STIC Investments and Korean Venture Capital Association. They manage funds exceeding $800 bln dollars. Forum is organized by RUSNANO, RVC and Skolkovo Foundation. The goal of the Forum is to assess perspectives of investments in Russian high-tech projects.
The first Forum in 2010 was attended by American partners in venture investments and innovations; the second one in 2011 attracted European colleagues. These visits resulted in hi-tech investment projects of more than $1bln.
SOURCE RVC, RUSNANO, Skolkovo Foundation
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