Business news

MINSK, 30 June (BelTA) – The Belarusian-Russian Venture Investment Fund is set to finance four projects, BelTA learned from the press service of the Belarusian State Science and Technology Committee.

“Four projects were selected at the first session of the Russian-Belarusian Venture Capital Fund in Moscow. The fund will now work out the terms of their financing. The investment will be used to finance R&D in healthcare and medical IT,” the press service clarified.

As was reported, in December 2016 the Russian Venture Company (RVC), RVC Infrafund, and the Belarusian Innovation Fund established a joint Russian-Belarusian Venture Investment Fund. The fund is RUB1.4 billion and may be increased by the decision of investors. In the fund’s Investment Committee Belarus and Russia are represented by Director of the Belarusian Innovation Fund Dmitry Kalinin and RVC Infrafund Director Yevgeny Kuznetsov. The fund’s Supervisory Council includes Chairman of the Belarusian State Science and Technology Committee Alexander Shumilin and Russian Deputy Minister of Economic Development Oleg Fomichev.