Anatoly Chubais

CEO and Founder

Vladimir Kozlov

Managing Director Investment Management

Olga Sadovskaya

Investment Director

Past deals in Eastern Europe

Motorica

Seed Round in 2015
Motorica is a company dedicated to the research and development of advanced technologies in medicine and robotics, specializing in the production of functional upper limb prostheses for everyday use. The company designs prosthetic devices that enhance hand movements for individuals with disabilities, utilizing innovative technology that reads electrical signals from muscle contractions. These signals are processed by a microprocessor that facilitates movement, allowing users to maneuver their forearms and wrists with ease. Motorica collaborates with both individuals and public and private prosthetic enterprises and is a resident of the Skolkovo Innovation Center, working alongside various international organizations in the prosthetics field.

Kuibyshevazot

Venture Round in 2015
KuibyshevAzot is the producer of caprolactam and polyamide-6 in the CIS and Eastern Europe. It is also one of the top-10 Russian nitrogen producers, producing ammonia and a range of nitrogen fertilizers (urea, ammonium nitrate, ammonium sulfate), which account for 5% of total Russian output of fertilizers.

Pharmsynthez

Venture Round in 2013
Pharmsynthez is a Russian pharmaceutical company that specializes in producing and distributing innovative drugs. The company is able to work in three areas of drug manufacturing—laboratory research and development of new medicines, preparation of original active pharmaceutical ingredients and drugs, and launching products into markets. Such breadth is unusual for Russian pharmaceutical companies.

DSK Grad

Venture Round in 2013
DSK Grad LLC is a high-tech design and manufacturing company based in Naro-Fominsk, Russia, specializing in prefabricated residential construction units. Established in 2014, it is the first national-scale manufacturer of such units to emerge in the Russian market in three decades. DSK Grad distinguishes itself by integrating advanced international technologies and innovative solutions developed by RUSNANO into its production processes. The company utilizes specialized materials, including paints and concrete plasticizers from established partners, to enhance the quality and efficiency of its products. DSK Grad aims to set new standards in the construction industry by demonstrating that innovative technologies can improve product quality while reducing costs, particularly through savings on transportation and maintenance of prefabricated buildings. Its commitment to employing nanotechnology in construction underscores its role as a pioneer in the sector.

SBT

Venture Round in 2013
SBT Management is a prominent Russian manufacturer specializing in the design and production of wireless communication systems. Utilizing advanced 90/40-nanometer processors, the company develops a range of equipment for wireless networks, including low- and medium-speed radio-relay devices, antenna systems, and mobile radio networks. SBT employs state-of-the-art measurement, laboratory, testing, and manufacturing technologies sourced from leading international suppliers. In addition to its product offerings, the company provides tailored development services for various clients, including manufacturing firms, research institutions, design organizations, and telecom network integrators. Through its commitment to innovation, SBT delivers comprehensive wireless solutions for diverse applications, such as transport systems, terminals, processors, chips, and aerial equipment.

AQUANOVA

Venture Round in 2012
AQUANOVA is a Russian industrial manufacturing of NovaSOL® solubilizates containing nanoparticles (product micelles). AQUANOVA project is based on the technology from German company AQUANOVA AG for enclosing active organic substances into nanocapsules (micelles) about 30 nm in diameter. The technology provides improved activity and effectiveness of natural components along with favourable economic performance. In particular, more rational use of costly natural substance allows the reduction of its content in the final product (food ingredient) by 3-5 times at the same functionality, thereby significantly reducing the food ingredient prime cost.

ICM Glass Kaluga

Venture Round in 2011
ICM Glass Kaluga specializes in the production of heat-insulating materials using a nanotechnological approach to process unsorted cullet. The company manufactures foam glass, a novel material for the Russian market, which offers unique thermophysical and operational characteristics. Foam glass is recognized for its wide temperature range of application, impermeability to vapor and water, non-flammability, size stability, high strength, and resistance to aggressive substances, including acids, as well as to rodents and insects. This innovative material is essential for construction and industrial engineering projects, serving as a universal particulate for thermal insulation, thus facilitating the creation of heat-insulated homes and chambers.

Novomet

Venture Round in 2011
Novomet is a manufacturer specializing in artificial lift equipment and electrical submersible pumps for the oilfield services and energy industries. The company focuses on producing high-capacity oil production equipment designed to operate in challenging conditions, utilizing advanced nanostructured protective coatings made from materials like tungsten carbide, titanium oxide, aluminum oxide, chrome, and molybdenum. Novomet's submersible pumps are recognized for their reliability and energy efficiency, particularly in difficult oil production environments. The company holds a 25% market share in Russia and a 3% share internationally for submersible extractive equipment. In addition to manufacturing, Novomet is developing a global service network to provide comprehensive maintenance and support for electric centrifugal pumps, including assistance with reservoir pressure maintenance and water injection systems, thus addressing the challenges of decreasing oil recovery factors.

Galen

Venture Round in 2011
Galen" is a domestic manufacturer of modern composite materials for industrial civil engineering, electric power industry and the road industry. As a developer and pioneer in the implementation of basalt plastic technologies in Russia, Western and Eastern Europe, today Galen is the leader of the domestic market in basalt plastic construction materials. The company occupies more than 50% of the composite communications market in Russia and the CIS. The plant is a successful manufacturer of flexible connections, facade dowels, fittings and mesh. Products made of composite material - basalt plastic, developed and patented by Galen, are know-how. The use of these high-strength corrosion-resistant products instead of metal analogs allows improving the quality of the facilities under construction and at the same time reducing the cost of construction. The plant’s products have been praised abroad, more than 20% of the products are shipped to foreign countries, and thousands of “passive” houses have been built in the UK using flexible Galen links.

Fiber Optic Systems

Venture Round in 2011
Optic Fiber Systems provides first industrial production of optical fiber in russia. The Optic Fiber Systems company produces optic fiber for communication cables used by telecommunication companies for data transfer. The plant located in Saransk, the capital of Mordovia, was commissioned in 2015. In quarter 4, 2016, the Company started commercial production of optic fiber. In March 2018, the total output amounted 2,000 km of fiber.

Nearmedic

Venture Round in 2011
NEARMEDIC will base its pharmaceutical production on Kagocel®, an antiviral drug available over the counter. Construction of the new GMP-tailored manufacturing facility will enable NEARMEDIC to remove Kagocel production from a rented facility and greatly expand manufacturing operations to further strengthen its Russian and the CIS market positions. Kagocel is a compound of an active plant-based gossypol molecule with a nanosized polymer carrier. The joining of this small molecule to a highmolecular-weight polymer-carrier prevents rapid metabolism of the active ingredient in the organism, prolonging the drug’s pharmacological activity and avoiding toxicity. Therein lies its uniqueness. Kagocel elicits the formation of alpha- beta- and gamma-interferons in the human organism. The interferons have highly antiviral activity, effective in treatment and prevention of flu and other acute respiratory infections and in treatment of herpes infections.

Monocrystal

Venture Round in 2011
Monocrystal, Inc. is a leading manufacturer of synthetic monocrystalline sapphire and composite materials, serving high-tech applications in electronics and optical devices. The company specializes in producing sapphire wafers utilized in light-emitting diodes (LEDs), smartphones, tablet PCs, and smartwatches, as well as for various optical components and high-precision instruments. Monocrystal holds a dominant position in the global sapphire market, supplying approximately 50% of the world's sapphires used in LEDs, with 95% of its products exported to 25 countries. Its offerings include sapphire wafers for radiofrequency switches, optical parts for industrial applications, and metallization pastes for solar cells. The company also provides a range of other products, including automotive pastes, LED phosphors, polishing slurries, and precious metal powders. Founded in 1999 and based in Stavropol, Russian Federation, Monocrystal operates as a subsidiary of Concern Energomera JSC, catering to manufacturers of LEDs, integrated circuits, and solar cells both domestically and internationally.

Nanolek

Venture Round in 2011
Nanolek is a Russian biopharmaceutical company dedicated to the development and production of high-quality medicines and vaccines that adhere to GMP standards. The company focuses on creating import-substituting drugs aimed at addressing socially significant diseases, particularly in the Russian healthcare market. Its product portfolio includes vaccines and medications for the prevention and treatment of infectious diseases such as whooping cough, diphtheria, tetanus, poliomyelitis, and illnesses caused by Haemophilus influenzae type b. Additionally, Nanolek is involved in the localization of drugs produced by global pharmaceutical companies, further contributing to the country's healthcare needs.

Plastic Logic

Venture Round in 2011
Plastic Logic Ltd specializes in the development and manufacturing of plastic electronics, particularly flexible displays. The company produces both color and monochrome electrophoretic displays, which are utilized in a variety of applications including smartphones, e-readers, tablets, signage, wristwatches, and automotive displays. With a focus on lightweight, shatterproof, and energy-efficient technology, Plastic Logic's products offer significant advantages over traditional screens. The company's manufacturing capabilities are centered in Dresden, Germany, where it operates a pioneering facility dedicated to organic electronics. It serves a diverse clientele, including OEMs, system integrators, and device manufacturers in multiple countries, including the United Kingdom, Germany, and Russia. Additionally, Plastic Logic collaborates with third-party companies through an open pilot line, providing expertise in the industrialization of flexible electronics. Founded in 2000 and based in Cambridge, Plastic Logic continues to innovate in the field of flexible display technology.

Plastic Logic

Debt Financing in 2011
Plastic Logic Ltd specializes in the development and manufacturing of plastic electronics, particularly flexible displays. The company produces both color and monochrome electrophoretic displays, which are utilized in a variety of applications including smartphones, e-readers, tablets, signage, wristwatches, and automotive displays. With a focus on lightweight, shatterproof, and energy-efficient technology, Plastic Logic's products offer significant advantages over traditional screens. The company's manufacturing capabilities are centered in Dresden, Germany, where it operates a pioneering facility dedicated to organic electronics. It serves a diverse clientele, including OEMs, system integrators, and device manufacturers in multiple countries, including the United Kingdom, Germany, and Russia. Additionally, Plastic Logic collaborates with third-party companies through an open pilot line, providing expertise in the industrialization of flexible electronics. Founded in 2000 and based in Cambridge, Plastic Logic continues to innovate in the field of flexible display technology.

RUSALOX

Venture Round in 2010
RUSALOX is a high-tech company based in Moscow, Russia, specializing in the development and manufacturing of circuit plates and substrates with high thermal conductivity. Founded in 2010, RUSALOX utilizes a unique aluminum oxide technology that enhances cooling efficiency for heat-dissipating electronic components. Their product offerings include multilayer and one-layer plates, as well as heat-conducting substrates designed for various applications, such as Chip-On-Board technologies, microwave electronics, and advanced packaging systems. The company's innovative substrates feature a patented design that combines an insulating layer on a metal core with a circuit layer, resulting in superior heat dissipation compared to traditional organic PCBs. This allows for high-density integration of electronic components on a single substrate, addressing the increasing challenges of heat generation in multifunctional electronics. RUSALOX's products are noted for their competitive pricing and performance, comparable to standard ceramics.

Neutron Technologies

Venture Round in 2010
Neutron Technologies commercialize pioneering work by the Joint Institute for Nuclear Research and Explosives and Narcotics Detectors, both of Dubna, Russia, in the use of labeled neutrons for identifying explosives and narcotics. Several leading research centers and governmental agencies—the All-Russia Research Institute of Automatics, the Bochvar All-Russian Scientific Research Institute for Inorganic Materials, the Federal Security Service of the Russian Federation, and others—contributed to product development and will continue to play a role as need for new products evolves.

RMT

Venture Round in 2010
RMT Ltd. is a manufacturer based in Moscow, Russia, specializing in the development and production of thermoelectric cooling (TEC) modules and devices for optoelectronic applications. The company offers a broad range of over 2,000 miniature thermoelectric coolers designed for various sectors, including telecommunications, industrial, medical, and aerospace. RMT's product lineup includes TEC modules, micro cooling sub-mounts, TEC controllers, diagnostic devices, and optical gas analyzers, as well as software for optimizing cooling solutions. RMT is noted for its commitment to quality, holding ISO 9001 certification, and is the only Russian company certified by the Russian State Space Agency to provide thermoelectric coolers for aerospace applications. With additional sales operations in Berlin and China, RMT aims to deliver high-quality standard and customized cooling solutions while ensuring superior customer service.

Liotech

Venture Round in 2010
Liotech operates a large-scale production facility in Russia that specializes in manufacturing next-generation lithium-ion batteries. The company focuses on supplying batteries for urban electric transport, notably providing products for the Trolza Trolleybus Plant, which utilizes Liotech's batteries for trolleybuses that can operate autonomously. Additionally, Liotech plays a significant role in the energy market, having supplied accumulator cells for a hybrid electric power plant developed by Hevel Company in Menza Village, Zabaikalye Territory. These cells are part of a 300 kWh energy storage system, and there are plans for Hevel to construct two more hybrid electric power plants in the region, where Liotech's products may also be implemented. Liotech's batteries are designed to enhance resource conservation and improve living standards, finding applications in vehicles, energy storage systems, and emergency power supplies.

IRE-Polus

Venture Round in 2010
IRE-Polus is a manufacturer of fiber laser and telecommunication equipment. It begins more than two decades ago with Russian company IRE-Polus. Its story of creating a scientific and manufacturing corporation of global magnitude is unique in the history of Russian high technology. Established by Russian physicist and fiber laser pioneer Valentin Gapontsev, IPG Photonics has become over the past six years the world leader in fiber lasers, related instruments, and systems derived from the lasers. The corporation holds 75 percent of the global fiber laser market. Its shares are traded on the NASDAQ. And Russia’s IRE-Polus, the starting point for these advances, will soon become one of three manufacturing locations for the US-based company and project initiator; the others are in Germany and the United States.

New Technologies of Construction

Venture Round in 2010
New Technologies of Construction” (NTC LLC) is an active industrial manufacturer of the innovative material—the UNIREM paving asphalt modifier. The manufacture of the UNIREM composite material is based on active rubber powder and makes use of the Russian technology made by the Semenov Institute of Chemical Physics of the Russian Academy of Sciences: high temperature shear grinding of polymeric materials and high-dispersity materials with elements of micro and nanostructures produced on the basis of this technology. The use of the UNIREM modifier in the construction/reconstruction/repair of road facilities allows for up to a twofold reduction in grooves on the road surface, a reduction in the formation of thermal cracks and coating defects, a reduction in the formation of fatigue cracks, and an increase in the period between repair work on the asphalt concrete pavement by 20-25%. Effective use of the UNIREM modifier has been verified on more than 20 million sq m of road surface laid on various public road facilities including federal highways with high traffic flow. NTC’ products have been applied in 28 regions of the Russian Federation. The effectiveness of the use of the UNIREM modifier has been proven by the results of 10-year monitoring studies of public road facilities. The most recent monitoring studies were conducted by an independent laboratory at the end of 2017.

MetaClay

Venture Round in 2010
METACLAY manufactures new-generation modified layered nanosilicates, masterbatches, and polymer nanocompositesProduction of new-generation modified layered nanosilicates, masterbatches, and polymer nanocomposites Basis of the technology used for production of polymer nanocomposites includes inventions of Russian scientists from leading scientific organizations of the country: A. V. Topchiev Institute of Petrochemical Synthesis, RAS (TIPS RAS), Institute of Macromolecular Compounds, RAS, Karpov Institute of Physical Chemistry, the Federal State Unitary Enterprise, Lomonosov Moscow State University and D. Mendeleev University of Chemical Technology of Russia. Metaclay’s coverings increase service length of metal pipes by half: up to 60-80 years, improve their persistency and durability at extreme temperatures (from -60ºС to +80ºС), decrease gas permeability as well as prevent material damage under solar radiation influence. Test of Gazprom VNIIGAZ confirmed that such coverings may be effectively used for the large-diameter pipes for main gas pipeline construction. Metaclay’s coverings, used among other things, in production of pipes at the Chelyabinsk Tube Rolling Plant, apply for anticorrosion protection of the Power of Siberia Gas Pipeline. The Company also plans to certify the use of pipes with nano-coating in the projects of Transneft and Rosneft. Due to technological advantages and low cost of Metaclay’s products it has become possible to put significant competitive pressure on foreign players in the Russian market, first of all Borealis Company. For this purpose import three-layer insulation was used. One-layer coatings of Metaclay are more cost-efficient (while saving protective and performance characteristics), because less equipment is used in application.

Membranium

Venture Round in 2010
Membranium is a Russian company specializing in the production of nanostructured membrane flat-sheets and elements used in various water purification technologies, including reverse osmosis, nanofiltration, and ultrafiltration. The company focuses on enhancing the efficiency of pure water production through advanced membrane technologies. Its products feature specialized pores that facilitate the provision of clean and safe drinking water while reducing costs associated with water purification. By prioritizing quality and innovation, Membranium aims to elevate national membrane science and technology on the global stage, ensuring access to ultraclean, salt-free water that is free from harmful microbes.

Mikron

Venture Round in 2010
Micron" is the largest manufacturer and exporter of microelectronics in Russia, the center of expertise and the technological leader of the Russian semiconductor industry. Micron produces more than 700 product types, including integrated circuits for secured data carriers, identification, payment and transport documents, power management and RFID marking for various sectors of the digital economy.

NTpharma

Venture Round in 2009
NTpharma provides GMP production of nanovaccines and biopharmaceuticals containing carbohydrate binders. The project provides for building a facility for production of vaccines and pharmaceuticals in the municipal area of Pereslavl’-Zalessky, 150 kilometers (85 miles) northeast of Moscow. The project aims at production of new generation vaccines, including a polyvalent human flu vaccine, and pharmaceuticals for detoxification in oncological therapy and for treatment of amyotrophic lateral sclerosis (ALS/Lou Gehrig’s disease). NTpharma’s technology allows to reduce by half the time required for culturing and production of the vaccine. This advantage is vital when dealing with vaccines for pandemic flu strains spreading rapidly all over the world.

Bebig

Venture Round in 2009
Bebig is a preparation and packaging of microsources for brachytherapy using isotope. Brachytherapy is a form of radiotherapy for malignant tumors in which the radiation source is placed within the affected organ. The optimal dose of radiation is delivered directly to the tumor without exposing adjacent tissues and organs. Brachytherapy is used extensively worldwide; it has been used in 800 medical centers in the United States and Western Europe for over 14 years. This project will establish domestic production of microsources, titanium capsules containing a gold wire (x-ray marker) and radionuclide 125I (iodine-125) in the form of silver iodide whose surface has been modified for better ultrasound visualization. Portfolio company will also produce nanostructured microspheres of polymer, glass, or silicon particles that incorporate atoms of radioactive isotopes. Their diameters are about 30 microns. Microsources produced by the project will be used to treat prostate, liver, and pancreatic cancers. Prostate cancer is one of the most common diseases in the country. There are more than 2.5 million cancer patients in Russia for whom effective treatment is essential. The project has high social significance.

OptoGaN

Venture Round in 2008
Optogan Group is one of technology leaders developing and producing High Brightness Light Emitting Diodes (HB LEDs) for global applications including Solid State Lighting. Optogan’s geography includes R&D operation in Helsinki, Finland and Dortmund, Germany and 2 production facilities: Landshut, Germany and St. Petersburg, Russia.
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