Nanostart AG (OTCQX: NASRY), a Frankfurt, Germany-based nanotechnology investment company, has acquired a licensed asset management company in Russia for €2.4m.
The establishment of Nanostart Russia Asset Management Ltd serves to fulfill the main regulatory conditions for Nanostart to enter in Russia as a venture capital fund manager.
To this end, it is partnering with RUSNANO, the largest government nanotechnology investor in Russia with funds of $10bn.
In April this year, Nanostart obtained the mandate for the Kama Fund First – a €50m venture capital fund for nanotechnology companies in the Perm economic region – from RUSNANO and the governor of the Perm region www.perm.ru
Vladimir Bogomolov, Director Eastern Europe at Nanostart AG, and Dr. Stefan Elsser, Senior Venture Partner at Nanostart AG, will be responsible for activities in Russia.
Nanostart Russia will be headquartered in Moscow with an office in Perm.