The Moscow Times
The Russian Venture Company is determined to direct the venture capital investment market away from its preoccupation with information technology and toward biotechnology, medicine, energy and other priority sectors, according to a five-year development strategy revealed Wednesday.
While experiencing dramatic growth over the last three years, the market has become skewed, with more than 50 percent of investments conducted in the IT sector, said Igor Agamirzian, chief executive of The Russian Venture company, or RVC. The goal for the next three years will be to make the market more balanced.
According to RVC’s estimates, the Russian venture capital market has more than tripled in size in the last three years, with the combined amount of venture investment deals reaching 30 billion to 32 billion rubles ($914 million to $975 million) in 2012.