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The Russian Corporation of Nanotechnology (RUSNANO), Singapore Economic Development Board (EDB) and 360ip, an international intellectual property investment and fund management firm headquartered in Singapore, announced plans to collaborate in the development of nanotechnology projects.
A memorandum of understanding for the establishment of the Asian Nanotechnology Fund was signed by RUSNANO CEO Anatoly Chubais, EDB Deputy Managing Director Tan Choon Sian and 360ip President and CEO Glenn Kline.
The fund will have a target capitalization of US$100 million of which RUSNANO and 360ip will each raise US$50 million. EDB will additionally support Singapore-based business of the fund's portfolio companies with grants aggregating to US$20 million. No less than 50 percent of the fund will be invested in the Fund's Russia-based projects.
The fund will concentrate on innovative investment opportunities that can leverage the strengths of Russia and Singapore. The fund will help its portfolio companies grow and be more competitive in the areas of nanotechnology research, commercialization and production.
"By establishing the Asian Nanotechnology Fund, we are creating a bilateral mechanism for more rapid commercialization of advanced products and solutions developed across Russia, Singapore and Asia. Our strategic partnership with 360ip and the Singapore Economic Development Board will also grow the research and development of nanotechnology in Russia and promote Russian technology in the international market," said RUSNANO Managing Director Georgy Kolpachev.
"Nanotechnology is a major growth sector worldwide and a key driver for creating significant market impact. In close cooperation with RUSNANO and the EDB, 360ip looks forward to taking an active role in developing high growth nanotechnology companies that can generate strong returns for the fund's investors," said 360ip President and CEO Glenn Kline.
"Singapore recognizes that close international partnerships are not just desirable but crucial, especially for an area like nanotechnology. This strategic partnership will provide opportunities for expansion stage companies with good technologies to use Singapore and Russia to capitalize on the fast growing emerging markets." said EDB Deputy Managing Director Tan Choon Sian.
The Russian Corporation of Nanotechnologies (RUSNANO) was established in 2007 by the Federal law № 139-FZ to enable Government policy in the field of Nanotechnology.
To accomplish this task, RUSNANO co-invests in nanotechnology industry projects that have high commercial potential or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.
RUSNANO participates in building nanotechnology infrastructure, which includes the nanotechnology centers of excellence, business incubators and early stage investment funds. RUSNANO provides scientific and educational programs that are required for its investment projects to succeed, and also supports the popularization of nanoscience and nanotechnology. RUSNANO selects promising spheres for investment based on longer-term foresight created by the leading Russian and world experts.
To assist the Russian nanotechnology industry advance to the global market and strengthening of its international links RUSNANO develops partnerships with the leading nanotechnology centers in the world and organizes the annual Nanotechnology International Forum in Russia.
360ip Pte Ltd (“360ip”)
360ip is a global technology investment and fund management company, headquartered in Singapore, with teams based throughout Asia and North America. 360ip includes an experienced group of operational, technical and financial professionals with a strong investment track record in technology commercialization and high growth companies.
360ip was jointly established by Battelle Memorial Institute (”Battelle”), one of the world’s leading non-profit, independent research and development and commercialization organizations, and Battelle Ventures, the venture capital firm affiliated with Battelle.
Battelle, which began operations in 1929, generates more than US$6.0 billion in consolidated annual revenue and oversees more than 20,000 employees worldwide and has extensive experience in nanotechnology research and development. Battelle Ventures – whose sole limited partner is Battelle – and its affiliate fund, Innovation Valley Partners, have a combined US$255 million under management.
For more information, please visit www.360ip.com.
EDB is the lead government agency for planning and executing strategies to enhance Singapore’s position as a global business centre and grow the Singapore economy. We dream, design and deliver solutions that create value for investors and companies in Singapore. In so doing, we generate economic opportunities and jobs for the people of Singapore; and help shape Singapore's economic future.
‘Host to Home’ articulates how EDB is sharpening its economic development strategies to position Singapore for the future. It is about extending Singapore's value proposition to businesses not just to help them improve their bottom line, but also to help them grow their top line. EDB plans to build on existing strengths and add new layers of capabilities to enable Singapore to become a ‘Home for Business’, a ‘Home for Innovation’ and a ‘Home for Talent’.
For more information about the Singapore Economic Development Board please visit www.edb.gov.sg
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