Nanostart AG (OTCQX: NASRY), a Frankfurt am Main, Germany-based investment company, is launching a 2.0bn rubles (nearly €50m) venture capital fund in Russia.
Jointly launched with the Russian company RUSNANO and the Governor of the administrative district Perm, Kama Fund First will provide growth financing to local young nanotechnology companies.
Nanostart will invest €12.5m and will manage the fund. RUSNANO and the governor of Perm are investing equal amounts for a total of €37.5m, which represents 75% percent of the total volume.
Kama Fund First is part of an initiative by the Russian government.
Nanostart, which was selected among several international competitors during the application process, focuses on investing venture capital in nanotechnology companies in various development phases and segments including cleantech, life sciences and IT/electronics.