Novosibirsk State University and Tomsk State University of Control Systems and Radioelectronics join forces to create a $13.8m venture fund.
Novosibirsk State University and Tomsk State University of Control Systems and Radioelectronics have teamed up to create a R900m ($13.8m) joint VC fund, according to East-West Digital News.
The first close of the fund is expected to be in the region of R200m to R300m.
The fund will invest over a five-year period, focusing on companies at the seed and pre-series A stage that are operating in the microelectronics, semiconductor, radio electronics, smart city, big data and information management sectors.
The fund plans to attract funding from state-owned and private organisations and will be managed by Russia-based investment firm Kamaflow.
