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Russian Direct Investment Fund of RDIF

Company

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Owners:
Vnesheconombank - 100%
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Assets

Assets

+ Russian Direct Investment Fund (RDIF)

The Russian Direct Investment Fund (RDIF) is organized in June, 2011 with capitalization in the amount of 10 billion US dollars selected by the Russian government for implementation of profitable investments into the capital of the companies on the principles of co-investment.

RDIF implements projects of direct investments, mainly in Russia. Within each investment project RDIF attracts investment partners whose contribution at least is not less a contribution of the fund that should become the catalyst of growth of direct investments in the Russian economy.

Since the beginning of the activity of RDIF together with partners invested in the Russian economy more than 400 billion rubles from which 50 billion rubles are a fund, and more than 350 billion rubles - means of co-investors and banks. Learn more

Management structure

For July, 2012 the structure of corporate management of RDIF is built according to the practice accepted in the leading world private equity funds:

Investment committee

The investment Committee considers and Fonda makes investment decisions and also prepares offers for consideration by the Supervisory Board.

Executive management

Executive management of Fund headed by the CEO is concentrated on accomplishment of tasks of selection, the analysis, structuring and commission of investment transactions of Fund and also participates in strategic management by portfolio companies.

International expert advice

The international expert advice is created at bodies of corporate management of Fund. Council consists of representatives of an investment and academic community and also leaders of business with considerable experience and recognized reputation.

Investment elevator

The mechanism of the Investment elevator is started in April, 2016 within support of the hi-tech projects of a small and medium entrepreneurship connected with non-oil export. It provides involvement of the leading institutes of development (MSP corporation, Fund of development of the industry, RDIF and group of the Russian export center (REC, EKSAR and Roseksimbank)) in activities for providing financial support of subjects of MSP at different stages of their lifecycle. Within the mechanism of the Investment elevator the small and medium companies can expect as financial (joint-stock and debt financing, provision of guarantees, export crediting and insurance), and administrative and consulting support of projects, including at promotion of the companies and their products in target international markets. You watch the Investment elevator in more detail.

History

2019

Investment into the Russian developer of AST robots surgeons

On November 9, 2019 the Russian Direct Investment Fund (RDIF) announced investment into AST. The volume of a round of financing is not reported. Read more here.

Completion of creation of JV AliExpress Rossiya together with Alibaba Group, Mail.ru Group and MegaFon

Alibaba Group companies, MegaFon, Mail.ru Group and the Russian Direct Investment Fund (RDIF) announced on October 9, 2019 completion of the transaction on creation of AliExpress joint venture Russia. The transaction means integration of key Russian consumer Internet platforms and platforms of electronic trading and start of joint venture for social commerce in Russia and the CIS countries which will function in full accordance with the federal legislation in the field of personal data protection. Read more here.

Agreement with Schneider Electric and Bpifrance on investment into the joint project in energy-saving technologies

On June 13, 2019 it became known that the Russian Direct Investment Fund (RDIF), the sovereign fund of the Russian Federation, a sovereign fund of the French Republic of Bpifrance and the French company Schneider Electric, the world expert in digital transformation of management of energy and automation, agreed about tripartite investments in the field of energy saving. Read more here.

Attraction of $2 billion for investment into artificial intelligence

On May 30, 2019 it became known of receiving from foreign investors of $2 billion by the Russian Direct Investment Fund (RDIF). Funds will be allocated to the Russian companies which are engaged in development of artificial intelligence technologies.

According to Vedomosti with reference to the representative of RDIF, the fund attracted investments from partners from large sovereign funds and global corporations of the countries of the Middle East and Asia.

RDIF attracted $2 billion to investment into artificial intelligence
RDIF attracted $2 billion to investment into artificial intelligence

The fund prepared offers on the development strategy AI in Russia for the meeting appointed to May 30, 2019 with the president Vladimir Putin. The president of Sberbank German Gref and the Deputy Prime Minister of the Russian Federation Maxim Akimov will become the main speakers on an action.

RDIF reports that it considered 100 Russian companies in the field of artificial intelligence, selected 20 and is at different stages of negotiations with them. Among the selected startups — the producer of bioelectric prostheses about PayPass "Motorika" and the medical  Oncobox project which is engaged in diagnosis of oncological diseases. Investment into these companies are approved, but it is not complete.

RDIF is going to invest money not only directly in artificial intelligence, but also in adjacent areas, such as cloud computing, centers of processing and data collection, AI for business, the states and the population. About 5-10 investment transactions a year are planned. Preferences will be given to the companies with a stable business model. The amount of investments will individually form.

According to the managing partner of Runa Capital Dmitry Chikhachev and the investment director of RVC Alexey Basov, $2 billion are much for the Russian market of solutions AI, but it is possible to find suitable infrastructure projects.[1]

In April, 2019 RDIF  announced  investment into the developer of the systems of face recognition VisionLabs.

2018: Investments into the Swiss-Russian developer of AR solutions for WayRay car

On September 18, 2018 it became known of involvement of WayRay of investments in the amount of $80 million. Took part the Russian Direct Investment Fund (RDIF) together with consortium of sovereign funds (Japan, Saudi Arabia, Kuwait, the UAE, Bahrain) among which the Russian-Japanese investment fund (it is created by RDIF and JBIC) and also Hyundai Motor, Alibaba Group, AFK "Sistema", China Merchants Capital and JVC Kenwood funds in the financial transaction which headed Porsche. Read more here.

2015

Investments at secondary share placing of retail network "Lenta"

In March, 2015 the Fund acted as the leading anchor investor at secondary share placing of Lenta Ltd, one of the largest and most successful retail retail chain stores in Russia.

Acquisition of stocks of the airport of Vladivostok

In February, 2015 RDIF, Changi Airports International, absolute affiliated enterprise Changi Airport Group, one of chief operators of the airports in the world, and the Basic Element group, one of the largest diversified business groups in Russia, are announced by winners of competition on acquisition of stocks of the International airport of Vladivostok. Shares between consortium members will be distributed evenly.

2014

The plan of the joint investments in "DG19" - the company on management of the warehouse real estate

In October, 2014 RDIF, the leading Middle Eastern investment funds and Development Group 19 company ("DG19"), the leading Russian company in the field of development and real estate administration, agreed about the joint investments in creation of the warehouse real estate of class "A" in the territory of the Russian Federation. Learn more

Investments together with the EBRD into the Russian Cotton Way

In January, 2014 the Russian Direct Investment Fund (RDIF) and the European Bank for Reconstruction and Development (EBRD) announced the joint investment in Cotton Way company, the leader of the Russian market of services in lease and professional processing of textile products. Learn more

2013

Investments together with Deutsche Bank into Rostelecom

Investments into JSC Rostelecom. In October, 2013 RDIF, the leading Middle Eastern investors and one of the leading international banks Deutsche Bank jointly invest in JSC Rostelecom, the largest telecommunication company in Russia. Learn more

Attracting investors to the IPO of ALROSA

In October, 2013 RDIF attracted a number of the leading world investors from North America, the Middle East, Western and Northern Europe and Southeast Asia to joint consortium on investments into the IPO of JSC ALROSA, Russian diamond-mining company. Participation of consortium promoted successful to the IPO company which was in total estimated by the market at 257.7 billion rubles. Learn more

Investments of $50 million into Maykor

In August, 2013 the fund as a part of consortium which also included the European Bank for Reconstruction and Development (EBRD) and CapMan Russia II fund, announced completion of the transaction on investment into Maykor group. Partners step by step invest up to $100 million of which the share of RDIF will make $50 million in Maykor, and the EBRD and CapMan Russia II invest the rest. Details.

2012: Alexey Ulyukaev is the chairman of the supervisory board

The supervisory board – the body of strategic management of RDIF responsible for an investment strategy of Fund, key rules and approaches. For July, 2012 members of the supervisory board were:

2011: Creation of management company led by Kirill Dmitriyev

  • January, 2011. The idea of creation of investment fund was again voiced by the President Dmitry Medvedev at the World Economic Forum in Davos. The purpose of fund - attraction of the direct foreign investments in national economy, and its capital will be created from means of the state.

  • February-March, 2011. According to the results of a speech of the President the Russian government held numerous consultations with leaders of business and institutional investors. The delegation headed by the Chairman of Vnesheconombank Vladimir Dmitriyev held negotiations with the management of the largest institutional investment funds of Europe, the USA, Asia and the Middle East. The parties discussed the relation of investors to investments to Russia and also possible mechanisms of interaction with the created Fund.

As a result of negotiations the model of soinvestition was developed. Foreign investors will invest directly in projects together with the Russian partner fund, but relying on own investment solution. The key principle of such investments of the party recognized aiming at obtaining high yield.

  • On March 21, 2011 the President Dmitry Medvedev charged to develop the necessary regulatory base till June 1 and to create the Russian Direct Investment Fund. For accomplishment of a task the multilateral working group was created. Experts of Presidential Administration and Government Office, Ministry of Economic Development, Ministry of Finance, Vnesheconombank and also workgroup members in formation of the International Financial Center in Moscow entered it.

  • April 21, 2011. The supervisory Board of Vnesheconombank under the chairmanship of the prime minister Vladimir Putin approved creation of RDIF on the basis of the principles and mechanisms offered by the Working Group. Kirill Dmitriyev was appointed the CEO of Fund.

  • On May 17-18, 2011 Moscow the group of heads of the largest institutional investment funds of the world with assets under management in the amount visited over 2 trillion dollars. The delegation held a number of meetings and consultations, including with the Russian Prime Minister Vladimir Putin. The visit became an unprecedented event in the history of the Russian investment market and was widely covered in the international mass media.

  • June 1, 2011. The management company of the Russian Direct Investment Fund is registered in the form of 100% of subsidiary of Vnesheconombank. Within five years the Russian government will provide RDIF capital of $10 billion for implementation of direct joint-stock investments in leading companies of the Russian economy.

2010: The president Dmitry Medvedev voices the idea of creation of fund

After a safe exit of Russia from a global economic crisis of 2008-2009, the government began to develop mechanisms of acceleration of inflow of the direct foreign investments to national economy. The president Dmitry Medvedev for the first time voiced the idea of creation of a national private equity fund at the St. Petersburg International Economic Forum in June, 2010.