RUSNANO together with Industrial Technology Investment Corporation (ITIC, the Republic of China) and investment company 360ip (Singapore) form a technology investment fund, called the Trans Pacific Technology Fund (TPTF).

A memorandum of understanding, which sets out main terms of cooperation between the parties for establishment of the fund, was signed at the Third International Open Innovations Forum in Moscow by the Chairman of the Executive Board of RUSNANO Management Company, Anatoly Chubais, the ITIC President, Herb Lin, and the President of 360ip, Glenn Kline.

The initial committed capital of TPTF will be USD 200 million, half of which to be provided by RUSNANO and the other half by the Asian investors. The memorandum envisages future expansion of the fund up to USD 400 million as additional contribution from other Asian investors.

TPTF will invest in high-tech companies in the field of robotics and automation, nanotechnologies, new materials and ICT, aiming to localize their business and technology on markets in Russia and the Asia-Pacific region. Management of the fund will be performed jointly by all three partners. TPTF is expected to start investing by early 2015.

The creation of new investment funds with input from international and Russian investors is part of the new RUSNANO strategy approved by the Board of Directors at the start of 2014. Several types of funds will be created in 2014–2020 with RUSNANO’s participation: growth stage and venture capital funds under the direct control of RUSNANO Management Company LLC as well as funds under joint co-management. RUSNANO expects to invest about 63 billion rubles in the new funds during that period and to attract 150 billion rubles of external investment for high-tech projects.