Memorandum of Understanding between RVCA and Chinese Private Equity and Venture Capital Association (CVCA)

In the framework of the Forum "Global Innovation Partnership 2012" which was conducted on October 2−4 in Moscow, Russian Venture Capital Association (RVCA) and Chinese Private Equity and Venture Capital Association (CVCA) signed Memorandum of Understanding.

From the part of Russian Association, the document was signed by Albina Nikkonen, the RVCA Executive Director. “Today, increase of economic role of the countries of Asian-Pacific region takes on a special significance. Signing the Memorandum will allow establishing lasting communication between the member organizations of CVCA and RVCA and render to both Associations the opportunity of sharing experience in different areas of activity”, − said Nikkonen.

Near 30 representatives of venture funds and investor associations from Hong Kong, China, and the Republic of Korea take part in the “Global Innovation Partnership 2012” (GIP-2012) Forum, including: CITIC Capital Holding; SAIF Partners; CDH Investments; Northern Light Venture Capital; Shenzhen Capital Group Co., Ltd; Sequoia Capital China; China Venture Capital and Private Equity Association; STIC Investments, and Korean Venture Capital Association. They manage, in aggregate, more than $800 billion. The Forum organizers – Russian Venture Company, RUSNANO, and Skolkovo Foundation. The goal of the Forum is to evaluate the prospects of investments in Russian high-tech projects.

The first 2010 forum drew the interest of American partners in venture capital and innovation sphere to our country, the second one – in 2011 – of our European colleagues. Investment projects in high technologies to the amount of more than $1 bln have resulted from these visits.