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EBRD, RVK and Tamir Fishman decide not to proceed with Russian venture capital investment
The Russian Venture Company, the Tamir Fishman Group and the European Bank for Reconstruction and Development have decided not to proceed with the creation of the proposed Tamir Fishman Russian Venture Capital Fund, following statements by a minority shareholder in the Fund’s management company.
All three were investors in what was to be a fund to invest in high-technology in Russia, remain actively committed to supporting the Russian market and the goal of developing advanced technologies.
The Russian state investor in the Fund, the Russian Venture Company (RVK), the Tamir Fishman group, an Israeli merchant bank and venture capital specialist, which is the majority owner of the Fund’s management company were to be partners in the Fund, along with the EBRD as an important investor.
The EBRD looks forward to the opportunity of working with high quality fund managers such as Tamir Fishman in future investment vehicles to promote Russia’s fledgling venture capital industry and provide support for the country’s high-technology sector.
The Russian Ministry of Economic Development & Trade organised a public tender which was won in May 2007 by the Finance Trust, a Russian company originally designated to manage the Tamir Fishman Russian Venture Capital Fund.
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