Mandate of Euro Venture Fund
Euro Venture fund invests in research and development companies, projects and innovative
solutions in the field of advanced manufacturing technologies which correspond to the priority
areas of the Fund.
Companies and projects are chosen according to the results of the competition. The competition
involves companies and separate teams of developers carrying out engineering designs with a
significant part of research and development. The designs are expertized by the Expert Scientific
and Technical Council of the Fund with the participation of independent experts and expert
1. Total amount of investment money of the Fund:
2. Transaction amount:
3. Company development stages:
- experienced team;
- product (which has been tested in the company);
- strategic vision of stage by stage development of the company;
- business plan as detailed as possible with an indication of financial indicators of the Company
in the forecast periods;
- clear understanding of outlets and competitors, fund raising objectives;
- technological know-how, intellectual property (registered patents are desirable);
500 million rubles with the potential for significant capitalization growth.
4. Geographical limitations are not provided for Companies, however, priority is given to
Russian technology companies (special preference may be given to the companies located in St.
Petersburg and Leningrad Region) having the potential to set up the business competitive not
only at the local market but also at the global one.
5. Dedicated portfolio: 10–15 transactions (solely by the Fund and in syndicate with other
partners and funds).
6. Period of ownership of Companies’ shares: 3-5 years from the first investment round
7. Potential of the Company’s sale (withdrawal): the project will be more attractive if several
withdrawal scenarios are available including sale to strategic or financial investors. An important
point is the readiness of founders to sell a controlling stock (from 51% to 100%) with the Fund is
important. Alternative exit mechanisms such as reverse withdrawal (sale of the company to its
owners or management) secured by property pledge as well as dividends shall also be provided
8. Representatives of the Fund are members of the board of directors of each portfolio company.
9. Representatives of the Fund actively cooperate with the Company management. The Company
management draws up periodical (monthly and/or quarterly) financial statements in the forma
agreed upon with the Fund.
10. Industry-based focus of the Fund:
The projects falling within the scope of the National Technology Initiative (NTI) and determined
by the TechNet area are of priority interest.
TechNet is a cross-industry, cross-market area of development of both high-technologies
industries and NTI markets, promising markets of future, for example, AeroNet, MariNet,
EnergyNet, FinNet, NeuroNet, HealthNet, SafeNet and FudNet markets. I. e. these are solutions
which are to large extent at the intersection of the most high-technology industries.
In this connection the key technologic interests of the Fund include:
consumption by industry facilities, housing and public utilities and municipal infrastructure
In the field of creative industries:
scientific and technical area
Project selection criteria: