Private Equity Russia

The Belarus government is preparing a project at the order of the president which will lead to the creation of a state venture company.  As proposed, the fund will initially be controlled by the State innovation fund.

“We studied several mechanisms for supporting venture financing at a state level”, said Anatoly Grishanovich.  ”It was decided, as an experiment, to transfer responsibility for this to the State Innovation Fund, as it has experience working with these kinds of projects.”

The fund would be similar in function to the Russian Venture Fund and the Belarussian government will be coordinating with its counterparts in Russia and Kazakhstan in setting up and operating the new fund.

The first Belarussian Venture Fair will be held in Minsk in November at which the activities of the new fund will be spelled out in detail and introduced to the public.

[Via Unova]

Belarussian President Alexander Lukashenko met with a team from the Rothschild Group last week and has invited the group to provide valuation services for enterprises slated for privatization in the republic and to advise the government on their privatization program.

The team also met with senior members of the government and the leadership of the national bank.

“If agreed in principle, we could identify five to seven projects in the near future and develop them more seriously,” said Lukashenko.

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