Rusnano is considering to launch a Russian-Arabic direct investment fund, business daily Vedomosti wrote last week, confirming earlier reports.
The Russian state-owned nanotech giant has already identified a group of potential investors from the Middle East, Lyubov Timofeeva, Senior Analyst at Business Strategy Department at Rusnano, told the business daily.
Vedomosti has learned from an unnamed source that the new fund could amount to some $200 million. Focus could be made on transferring Russian oil, gas and solar technologies to Arabic countries.
Timofeeva said that the potential structure of the fund, the targeted industry segments and project types are currently under discussion. The fund’s target size will depend on the outcome of the next round of discussions, she added.
Rusnano usually does not take more than 50% of its joint funds, and aims to bring its participation to some 25%.
Partners from outside the western world
Due to the anti-Russian sanctions, many international investors have turned away from Russia. Thus in 2014 the EBRD pulled out of a planned joint fund with Rusnano.
As a consequence, Russian companies tend to seek partners in Asia, the Middle East and Latin America.
Rusnano has found a common language with Chinese partners. Last year saw the launch of a $500 million nanotech fund jointly with China’s Zhongrong International Trust, as reported by East-West Digital News.
Last Anatoly Chubais, the head of Rusnano, announced its plans to launch a joint investment fund in cooperation with Iran to invest in high tech projects.