Kazakhstan, Russia signed Protocol of intentions on establishment of Kazakh-Russian Venture Fund of Nanotechnologies
ASTANA. September 11. KAZINFORM SamrukKazyna National Welfare Fund and Russian Corporation of Nanotechnologies have signed a Protocol of intentions regarding basic principles of establishment of a Kazakh-Russian Venture Capital Fund of Nanotechnologies. The document was signed at the VI Forum of Kazakhstan-Russia Inter-regional Cooperation in Orenburg today. From the Kazakh side the Protocol was signed by Abai Alpamyssov, Chairman of the Board of Kazyna Capital Management, SamrukKazyna's subsidiary company. From the Russian side it was signed by member of the board of Russian Corporation of Nanotechnologies Dionis Gordin. The total capitalization of the Fund will make USD 100 mln. It will specialize in stimulation and development of innovative activity of the nanotechnologies market in Kazakhstan and Russia. In accordance with the strategy, the Fund will invest in promising project companies in nanotechnologies sphere both on the Kazakh (50% of the total capitalization of the Fund) and Russian territories (50% of the total capitalization of the Fund). The Fund is expected to be registered till the yearend and set to work in Ha1 2010.