Russian Federation-backed Russian Venture Capital (RVC) is scouting for Indian ventures to partner its portfolio companies, as the fund-of-funds looks to enter and make a mark in Asia’s third-largest economy.
RVC manages assets of about $500 million (about Rs 3,326 crore) across 22 funds. It is keen on joint ventures with Indian entities across sectors, particularly in education, biotechnology, renewable energy and the broader healthcare space, according to a senior executive at RVC. “The first task is to promote our companies, and find industrial partners (for them), and try and embed them into India’s, as well as into the global supply chain,” Alexander Potapov, executive director of RVC, told ET. “The next stage will be to find investment partners.” State-owned RVC will not, however, invest in the consumer and internet sectors, which have traditionally been the largest beneficiaries of risk capital over the last three years, as investors poured in billions to back ventures catering to one of the world’s largest consumer markets.