Russian Venture Capital Association

Memorandum of Understanding between RVCA and French Venture Capital Association (AFIC)

November 27, 2012, Paris – Memorandum of Understanding was signed by Executive Director of RVCA and Chairman of French Venture Capital Association (AFIC). The document includes the main clauses on collaboration in innovation sphere as well as the order of actions directed to bilateral cooperation in the venture capital area.

The signing was timed to the 17th session of intergovernmental commission of Russia and France under the chairmanship of prime-ministers of both countries – Dmitry Medvedev and Jean-Marc Ayrault.

The parties marked the importance of development of the cooperation and creation of the instruments to support mutual scientific and innovation projects which create the platform for the territorial clusters of France and Russia activity.

“The fact of signing the document witnesses for readiness of Russia and France to move forward – now in the sphere of integration of venture capital industry of both countries, − said Albina Nikkonen, Executive Director of RVCA. – We have to arrange even more close interactions in innovation sphere, which will promote strengthening economic sectors of our countries and broaden the boundaries of cooperation in the investment sphere”, − added Nikkonen.

Both Associations are planning to unite their efforts in the context of conducting various industry branch events: conferences, forums, summits, and venture fairs, where the innovation high-tech early stage companies will get an opportunity to present their businesses to investors.

The AFIC Chairman Louis Gordon has expressed already his wish to take part in Venture Fairs which have been organized and conducted by RVCA in Russia since 2000 annually.

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