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“Kama Fund First”:
Nanostart takes its first steps on the nanotechnology market in Russia
Nanostart AG announced its entry on the Russian market at the end of April, thereby marking a further milestone in the history of the company. Together with its Russian partners Nanostart is launching a €50 million nanotechnology fund, for which Nanostart will be the fund manager.
Government nanotechnology drive
Russia is the largest country on earth and, at around 500 million tons in 2009, still ahead of Saudi Arabia as the world’s biggest oil producer. It has the world’s largest gas reserves and has a wealth of other natural resources. And Russia is in upheaval: As part of a modernization campaign initiated and subsidized by the government, the country is now seeking to move away from its dependency on commodities to become a high-tech nation.
Nanotechnology will play a crucial role in this as a foundation for ongoing economic and social development. The company RUSNANO was created just for the purpose of promoting nanotechnology in Russia, and was provided with roughly USD 10 billion. Thus, RUSNANO is the world’s biggest nanotechnology investor. Its goal: By 2015, Russia is to have a nanotechnology industry worth USD 30 billion. The rapid growth of the BRIC nations and the rising domestic demand is also making it increasingly attractive to investors.
Nanostart has looked at the various regions of Russia and its activities in the field of nanotechnology, examining its options. The first meeting between Marco Beckmann, CEO of Nanostart AG and Anatoly Chubais, Chairman of RUSNANO, took place in 2009. Their first cooperation, the planned investment of RUSNANO in Nanostart’s ItN Nanovation holding, was announced at the beginning of April.
Declaration of market entry in Moscow
On April 20, 2011, Nanostart AG announced its Russian market entry at a press conference in Moscow. Together with the governor of the administrative region of Perm and the Chairman of RUSNANO, Marco Beckmann presented the joint project “Kama Fund First”.
The €50 million nanotechnology fund will provide growth finance funding for young, ambitious nanotechnology companies in the Perm administrative region. Up to 25 percent (€12.5 million) of the fund’s volume will be provided by Nanostart. Combined, RUSNANO and Perm will invest 75 percent (€37.5 million). Nanostart will manage the fund. Nanostart beat out renowned competitors to manage and co-invest in “Kama Fund First”. In addition to a management fee of 3 percent per year and a performance participation of up to 25 percent, the fund will also above all tap promising opportunities for future activities in Russia for Nanostart.
Perm – ideal for market entry
Governor Oleg Chirkunov is in the process of developing the Perm region into a stronghold for technological innovations. He is gearing the region’s policy to offer a favorable investment climate, a good education system and a lively research landscape. Universities with around 60,000 students and more than 30 research institutes provide a steady stream of highly-skilled employees and ensure an extensive technology transfer. The Perm administrative region is on the western edge of the Ural on the border to the Asian part of Russia. Nanotechnology is developing particularly rapidly here. Based on this, Nanostart chose Perm as the ideal region for its market entrance in Russia.
Further options in a high-growth environment
For Nanostart, its market entry through the fund in Perm marks the start of business activities in Russia. “We systematically looked at the Russian nanotechnology scene,” said Marco Beckmann, CEO of Nanostart. “We got to know the region of Perm with growing interest. The fact that we are working exclusively with RUSNANO and the governor of Perm, Mr. Oleg Chirkunov, is high recognition of our work. But, to us, it is also an impressive affirmation of the respect we have earned internationally as a leading growth financer for nanotechnology.”
Thanks to its strong Russian partners, a number of further cooperations and business options are opening up to Nanostart AG in an extraordinarily high-growth environment.
Huge public interest
The announcement of the cooperation between Nanostart, RUSNANO and Perm was met with great interest by the media. Here are a few excerpts from the media response:
- RIA Novosti: TV piece by Russian news agency RIA Novosti on the press conference in Moscow, including an interview with Marco Beckmann >>
- The Moscow Times >>
- Börsenzeitung >>
- Nanowerk.com >>
- VDI Nachrichten >>
- Overview of media coverage >>
Information on “Kama Fund First” can also be found on our website and its own special site.
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