STLC, Russian Venture Company say establish 3 bln rbl venture fund

MOSCOW, Nov 19 (PRIME) -- State Transport Leasing Company (STLC) and Russian Venture Company signed an agreement to establish a joint hi-tech venture fund with an initial amount of 3 billion rubles on Tuesday.

“The fund is established for promotion of highly-technological products on the Russian market and support of investment companies and startups significant for the development of the transport industry… The stated period of activity of the fund is 10 years with a possible prolongation by a decision of the participants,” the organizations said in their joint statement.

The fund will focus on air, water, railway, passenger and freight land transport, road construction and maintenance equipment.

(63.7542 rubles – U.S. $1)

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