Share
Updates subscription
Thanks for subscribing!
Subscribe to Made in Russia today and get the most interesting news about Russian business, export and culture today!
Social media and RSS subscription

October 4, 2019

Arkady Dvorkovich was elected Chairman of the Board of Directors of VEB Ventures

Arkady Dvorkovich, Chairman of the Skolkovo Foundation, has headed the Board of Directors of VEB Ventures. The decision was made at the meeting on October 1.

The Board of Directors also includes Kirill Varlamov, Director of the Internet Initiatives Development Fund, Dmitry Peskov, Director of Young Professionals at the Strategic Initiatives Agency, Alexander Povalko, General Director and Chairman of the Management Board of the Russian Venture Company, and Sergey Solonin, General Director of Kivi JSC.

VEB Ventures is a company of the VEB.Russian Federation Group established to support high-tech projects through direct transactions and venture fund management. Among the priorities of VEB Ventures are financing of promising companies with the help of own funds, private and state funds, as well as assistance to Russian startups in entering international markets.

"Today, at the meeting of the Board of Directors, we reviewed the main areas of VEB Ventures' activities, the draft strategy for the company until 2024, interaction with the development institutions of the "Big Innovation Five" and other partners. We see great potential in the work of joint regional and international funds in the Russian venture capital market. At the meeting, special attention was paid to the issue of supporting startups to determine their role in the middle and late stages of investment," said Arkady Dvorkovich.

"We know from the world experience that cooperation and interaction in technological spheres is a fundamental factor in expanding access to markets. The renewed Board of Directors with the main market players and professionals in the field of technological development will allow us to implement the strategy for the period up to 2024 with maximum success. We are finalizing an effective structure and are ready to show results now," said Oleg Teplov, General Director of VEB Ventures.

VEB Ventures (formerly VEB Innovations) is a company of VEB.Russian Federation Group established to support high-tech projects through direct transactions and venture fund management. Among the priorities of VEB Ventures are financing of promising companies with attraction of own funds, private and state funds, as well as assistance to Russian startups in entering international markets. The company offers projects not only venture investments, but also operational management support tools and access to financial products of VEB Group companies. This makes it possible to create support schemes for Russian innovative companies, taking into account their individual needs, including those to facilitate their entry into international markets.

On June 6, at the St. Petersburg International Economic Forum, VEB.ru's investment subsidiary VEB.ru, VEB Innovations, announced its rebranding and new strategy. Now the company is called VEB Ventures, and according to the new strategy will focus on investments in companies through direct transactions, as well as through joint venture funds with corporations and other market players. According to the new strategy, by 2024 its portfolio will be estimated at 34.8 billion rubles.

Made in Russia // Made in Russia

Share
Commenting ability is turned off due to expiration of the comment period, which is 5 days from the date of publication