Silicon Valley Venture Capitalists discover Russia!
For the first time in the history of the United States, a delegation of 20 leaders from the top Silicon Valley venture capital funds is coming to Moscow from May 25th to May 27th. The delegation will also include representatives of the US State Department.
The main purpose of the trip is to provide the delegates with an opportunity to learn about Russia and its growing investment potential. During the three days of the trip, the delegates will have a unique chance to meet the movers and shakers of the Russian technology markets, including members of the Russian business elite, famous entrepreneurs, major law firms and investment banks, technology executives and local investors as well as key government officials. The delegates will also explore the emerging scene of Russian start-ups and learn about established technology companies with high-growth potential.
The visit is organized by the American Business Association of Russian-speaking Professionals (AmBAR - www.ambarclub.org), together with The Russian Corporation of Nanotechnologies (RUSNANO - www.rusnano.com).
The delegation includes leaders from such well-known funds as Accel Partners, August Capital, Atlas Venture, Bessemer Venture Partners, Canaan Partners, Sofinnova Ventures, JK&B Capital, Emergence Capital, Mohr Davidow Ventures, Domain Associates, Wilson Sonsini Goodrich & Rosati (law firm), Asset Management Company, Alloy Ventures, EDventure, Siguler Guff & Company, Index Ventures, Almaz Capital Partners, Draper, Fisher & Jurvetson, Trident Capital and Wellington Partners. The total value of assets managed by these funds is over $60 billion. The aggregate investment portfolio of these companies includes more than six thousand brands, including such famous names as Microsoft, Oracle, Dell, Cisco, Intuit, Symantec, Apple, Redhat, Juniper, Facebook, Ebay, Hotmail, Baidu, Skype, Verisign, Veritas, Gartner Group , Teva, Amgen, Applied Biosystems, Biogen, Idec, among others.
"What Russia needs is not so much money as good customers - clients and users who demand useful innovations and who want projects implemented on time," says Esther Dyson, an angel investor, a Director of Russian search company Yandex, Advisor to Russian IT Services Company IBS Group, Advisor to AmBAR, and also a member of the Russian Government's Advisory Commission on its "Silicon Valley" Project. "The members of the delegation are coming not just as investors but also as role models."
"Venture capital is a business that is based on trusted relationships. Meeting Russian entrepreneurs, business leaders, and potential co-investors will start to give US venture investors the comfort and familiarity that should lead to more investment in Russian startups. Innovation and great entrepreneurs are not stopped by national borders; venture capitalists shouldn't be either," thinks Don Wood, Managing Director at Draper Fisher Jurvetson.
Although such technology giants as Microsoft, Alcatel, Boeing, Google, Intel, Motorola, Oracle, Samsung, and Sun Microsystems have long had branches in Russia-- recognizing the true value of Russia's growing market and the intellectual ability of its people - global venture capital began to look closely at Russia only quite recently. Nevertheless, just as they "opened" Israel, China and India with great success over the past twenty years, today more and more funds are striving to understand the extent to which Russia can become the next region with significant potential for technological investment.
"The main goal for RUSNANO in cooperation with Western venture funds is not capital, but their expertise, knowledge on how to grow a high-tech company, and management experience. We look forward to finding a common ground and bringing US start-ups and their technology to Russia." - explained Anatoly Chubais, CEO of RUSNANO.
"If you believe everything you read in US newspapers, Russia is an incredibly scary place to be, let alone to do business. Having invested in the country on a few occasions, at Bessemer we understand there are risks operating in the Russian ecosystem as it matures. It's far from perfect, but that's true about most markets, and we have no doubt that scores of important companies will emerge from Russia given the incredibly rich talent pool and intellectual curiosity among its citizens," concluded Jeremy Levine, Partner, Bessemer Venture Partners
"Russia is emerging as a major force in the world economy and as a leader in technology innovation. Venture capitalists have always sought out talented engineers and entrepreneurs, and Russia offers an educated, hardworking and entrepreneurial workforce," Brian Jacobs, Founding Partner, Emergence Capital
"We have been very impressed with the technical expertise and dedication of the Russian entrepreneurs we work with. This trip offers a unique opportunity to learn more about the start-up ecosystem and investment potential in Russia," Vivek Mehra, General Partner, August Capital
"Russia has a rich history of technology innovation and a vibrant entrepreneurial spirit that promises to have economic impact well beyond its borders," Jim Smith, Partner, Mohr Davidow Ventures
"As AmBAR was at the forefront and has always been a major promoter of the nascent Russian venture industry, it is particularly important for us now to support its development and growth internationally," concluded Anna Dvornikova, President, AmBAR
About AmBAR
AmBAR is a non-profit business association of Russian-speaking entrepreneurs, venture capitalists, engineers, lawyers and other professionals working in the high-tech industry with headquarters in the Silicon Valley. Started in 2002 as an organization of expatriates from Russia, Ukraine and other FSU countries that are involved in technology businesses in the United States, AmBAR has grown into the largest network where Russian-speaking innovators and entrepreneurs can exchange ideas and business contacts. Today AmBAR membership base consists of more than 2,500 business professionals.
About Rusnano
The Russian Corporation of Nanotechnologies (RUSNANO) is a $5B State Corporation that was established in 2007 to enable government policy in the field of Nanotechnology and led by Anatoly Chubais. To accomplish this task, RUSNANO co-invests in nanotechnology industry projects that have high commercial potential or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.
RUSNANO participates in building nanotechnology infrastructure, which includes the nanotechnology centers of excellence, business incubators and early stage investment funds. RUSNANO provides scientific and educational programs that are required for its investment projects to succeed, and also supports the popularization of nanoscience and nanotechnology. RUSNANO selects promising spheres for investment based on longer-term foresight created by the leading Russian and world experts.
To assist the Russian nanotechnology industry advance to the global market and strengthening of its international links RUSNANO develops partnerships with the leading nanotechnology centers in the world and organizes the annual Nanotechnology International Forum in Russia.
Contact Info:
American Business Association
of Russian Professionals
(AmBAR)
555 Bryant Street, Suite 161
Palo Alto, CA
94301
E-mail: ambar@ambarclub.org
