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The establishment of Nanostart Russia serves to fulfill the main regulatory conditions for Nanostart's market entry in Russia as an investment company in the area of venture capital.
- Acquisition and renaming of licensed asset manager
- Purchase price of EUR 2.4 million in cash
- Regulatory requirements for market entry fulfilled
- Locations in Moscow and Perm
The Frankfurt-based nanotechnology investment company Nanostart AG has acquired a licensed asset management company in Russia that will trade as Nanostart Russia Asset Management Ltd in future. The corresponding contracts have been signed in Moscow and the purchase price of EUR 2.4 million has been paid in cash.
The establishment of Nanostart Russia serves to fulfill the main regulatory conditions for Nanostart's market entry in Russia as a fund manager in the area of venture capital. The company is domiciled in Moscow with an office in Perm.
The Russian corporation has a license for the administration of investment funds. In Russia, the area of fund management is centrally regulated. In order to manage and administer third-party funds, assets and participations, fund managers must be authorized or licensed by the relevant authorities in accordance with clearly defined conditions based on the criteria for fund managers as set out by the UK FSA (Financial Services Markets Act) and the US SEC (Securities Exchange Act).
With the acquisition of the future Nanostart Russia Asset Management Ltd, Nanostart is paving the way for the management of venture capital funds in Russia. Nanostart is entering the Russian market in close cooperation with RUSNANO, the largest government nanotechnology investor in Russia with funds of USD 10 billion. In April this year, Nanostart obtained the mandate for the Kama Fund First - a EUR 50 million venture capital fund for nanotechnology companies in the Perm economic region - from RUSNANO and the governor of the Perm region.
"Nanostart Russia Asset Management Ltd provides us with the regulatory basis for the management of investment funds in Russia. From our perspective, the mandate for the Kama Fund First is just the first in a range of funds that we intend to initiate with our strong Russian partners over the coming months and years," commented Vladimir Bogomolov, Director Eastern Europe at Nanostart AG.
In addition to Bogomolov, Dr. Stefan Elsser, Senior Venture Partner at Nanostart AG, will be responsible for activities in Russia.
About Nanostart AG
Nanostart AG headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
RUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. For further information about RUSNANO, please visit www.rusnano.com.
The administrative district Perm region is situated at the western edge of the Urals, on the border with the Asian part of Russia. Perm is one of the most important industry regions within Russia. Around 500 large and medium-sized companies are based here. The crude oil, natural gas, metalworking and chemical industries continue to account for a significant proportion of industrial production, while mechanical engineering also enjoys strong exports. However, innovative industries and technologies such as nanotechnology are becoming increasingly important for Perm’s international competitiveness. Projects and companies in this area are benefiting from the extremely positive conditions and subsidies available in the region. For further information about Perm, please visit www.perm.ru.
This communication does not constitute an offer to sell or a request to submit an offer to buy or subscribe to securities. No initial public offering (IPO) of securities of Nanostart AG is taking place in connection with the listing of shares in the Open Market sub-segment of the Frankfurt Stock Exchange, the “Entry Standard”. This communication does not constitute a securities prospectus. This communication and the information it contains are not meant to be directly or indirectly forwarded to or within Canada, Australia or Japan.
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Dr. Hans Joachim Duerr
Head of Corporate Communications
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
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