Co-owner of Euroinvest IC Andrey Berezin sets up its own venture fund

- Euro Venture - for 10 mln euro

“I think that venture investments are a basis of innovation-driven economy. That is why I

decided to set up my own venture fund - Euro Venture. My business partner Yury Vasiliev, CEO

of Euroinvest IC has become the co-founder of the fund. Initially the fund amount will reach 10

mln euro and priority investment areas will be innovative developments in the research and

development area – first of all, electronics, new materials and TechNet technologies as well as

projects in the creative industry”, says Andrey Berezin.

 

As Roman Romanyuk, Director of Euro Venture, mentions, the fund will organize its activity

through development of a wide range of partnerships with different structures from development

institutions (such as RVC, Skolkovo, etc.) and higher education institutions (SPbPU, LETI,

Polytech, Voenmeh, etc.) involving their expert potential to other venture investors and start-up

accelerators.

 

“In contrast to the so-called “business angels” which as a rule invest rather small amounts in

start-up stages of projects, the Fund will be ready to consider possibilities of investments not

only in Seed and Start-up stages but also in Early Stage and Expansion of projects”, explains

Roman Romanyuk. “The founders of Euro Venture fund regularly receive proposals to invest in

one or another project and now at the expense of the fund they have decided to make their own

venture investments more pinpoint and not directly depending on the main business”.

 

According to the experts, the total amount of venture investments in Russia in 2016 was about

$160 mln and 90% of all investments were made in IT, less than 10% of the amount were

assigned for manufacturing technologies.

 

As for the interest of Euro Venture fund for projects in the field of creative industries Andrey

Berezin explains it as follows: “Both as investor and citizen of St. Petersburg, of course, I am

interested in creation of a comfortable business and social environment in our city. Exactly

creative projects not only contribute to creation of high-quality social environment but unlock

human and creative potential first of all of young people. I have to specify here that our fund will

be more interested in ideas and projects aimed at education both in humanitarian and scientific

and technical area. This is our form of social responsibility”.

 

As Andrey Berezin specified, Euro Venture fund also plans to hold a competition of innovative

scientific and technical as well as creative developments and projects every year. The objective

of the competition will be development of scientific activity and stimulation of innovative

activity of young people.