US-based venture capital firms have joined interest from strategic investors Cisco and Nokia in providing initial support for the creation of a Russian ‘Silicon Valley’ based outside Moscow.

California-based Silicon Valley is home to many of the world’s largest independent VC funds and Russia has promised "unprecedented privileges" to the creation of its own version in Skolkovo.

Dmitry Medvedev, Russia’s President, met with US VCs Drew Guff, a co-founder of New York-based Siguler Guff, and David Kronfeld, chairman of Chicago-based…

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