Egorov Puginsky Afanasiev & Partners acted as Russian law adviser to DFJ during the creation with VTB Capital and RUSNANO of a domestic and parallel international fund to invest in nanotechnology under the name of DFJ-VTB Aurora, the first closing for which took place in December 2011.
The DFJ-VTB Aurora venture funds are focused on investing in technology start-ups with Russian roots with the prospect of entering the international market, as well as companies interested in entering the Russian market. The funds will invest only in projects related to the development and use of nanotechnologies.
The funds are aimed at attracting foreign investment in nanotechnology to the Russian market, as well as the adaptation of Russian technologies to foreign markets in accordance with international standards.
Advice on all aspects of Russian law relating to mutual investment funds, as well as analysis of Russian legislation regulating the activities of mutual funds, was provided by the Banking and Finance Practice of the Firm, including Senior Associate Irina Skidan, Associates Julia Kulyamina and Alexey Vasilyev, as well as the Deputy Head of the Tax Practice, Mark Rovinskiy. The project was coordinated by Ilya Nikiforov, Managing Partner at Egorov Puginsky Afanasiev & Partners’ St. Petersburg office.
Draper Fisher Jurvetson (DFJ) is an international leader in venture capital markets, representing a network of partnership venture capital funds with representative offices in more than 33 cities around the world.
VTB Capital is Russia’s national leader in global investment banking that offers a full range of investment banking products and services. Since its foundation in 2008, VTB Capital has taken part in more than 269 ECM and DCM deals, which were instrumental in attracting more than USD 111.5bn worth of investments to Russia and the CIS.
RUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit.