Povalko Alexander Borisovich

Biography

Alexander Borisovich Povalko was born on May 16, 1970 in Lyubertsy, Moscow Region, Russia.

Education

1992 - graduated from the Moscow Aviation Institute named after Ordzhonikidze (specialty "Radio Engineer," specialization "Radioelectronic systems and complexes of mobile aircraft control systems").

1996 - graduated from Maimonides State University (specialty "Applied Mathematics," specialization "Real Estate Management").

Career

1994-1997 - He worked as a senior consultant to the evaluation department, project director and business development director of PAKK.

2007-2008 - Director of the Strategic Planning Department of Renova-StroyGroup CJSC.

2008: Deputy Head of Rosmolodezh

2008-2012 - Deputy Head of the State Committee of the Russian Federation for Youth Affairs, Deputy Head of the Federal Agency for Youth Affairs.

2009 - Member of the organizing committee of the All-Russian competition of youth author's projects aimed at the socio-economic development of Russian territories "My country is my Russia."

May 25-26, 2010 - spoke at the X All-Russian Conference of Representatives of Small and Medium-Sized Enterprises "The Role of Small and Medium-Sized Businesses in the Modernization of the Russian Economy" with a report on the topic "Innovative Methods of Involving Young People in Entrepreneurship^[1] and Industry ^[1]).

June 28, 2011 - Participant of the All-Russian Meeting on Support for Young Scientists and Specialists "Councils of Young Scientists and Specialists: Engineering Personnel for the Innovative Economy"^[2].

2012: Deputy Minister of Education and Science

Since June 2012 - Chairman of the Government of the Russian Federation Dmitry Medvedev By Order of June 18, 2012 No. 1011-r appointed Alexander Povalko Deputy Minister of Education and Science of the Russian Federation^[3].

As Deputy Minister of Education and Science of the Russian Federation, he oversaw the following issues:

• preparation of proposals for the draft federal budget for the next fiscal year and the planning period for financing education, basic research in the field of national issues, applied scientific research, state investments in the field of education and science;

• cash execution of the budget, formation and presentation of financial statements;

• preparation and conduct of competitive and other procedures for placing state orders within the framework of federal targeted programs and extra-program measures (with the exception of state capital investments);

• integrated coordination of work with federal target programs;

• preparation of proposals of the Ministry as a subject of budget planning for the formation of the federal budget of the main managers of budget funds;

• organization of budget execution Ministry of Education and Science Russia in terms of maintaining a budget list and distribution of budget commitment limits;

• ^[3] of^[3].

Coordinates and monitors the activities of the Ministry of Education and Science on:

• ensuring the international integration of science and education;
• attracting leading scientists to Russian educational institutions;
• state system of certification of scientific and scientific and pedagogical personnel, activities of the Higher Attestation Commission under the Ministry of Education and Science of the Russian Federation;
• participation of the Russian Federation in international scientific projects and programs supervised by the Ministry.

September 9-15, 2012 - took part in the opening ceremony of the Final of the III All-Russian competition of the UMNIK on START program^[4] of the^[4]

2012 - Member of the competition committee of the open Competition for NGOs 2012, which conducts the Club Personnel Reserve Training Fund State in accordance with Order of the President of the Russian Federation No. 216-rp of 03.05.2012 "On Providing State Support for Non-Profit Non-Governmental Organizations Participating in the Development of Civil Society Institutions" in 2012 to allocate grants to non-profit non-governmental organizations (NGO) for the implementation of projects of social importance in the field of support for youth initiatives, projects of youth movements and organizations^[5]

Member of the Supervisory Board of the Federal State Autonomous Educational Institution of Higher Professional Education "Moscow Institute of Physics and Technology (State University)"^[6]

Member of the Board of Trustees of the Skolkovo Foundation.

Alexander Povalko: about Skolkovo projects

2016: RVC CEO

In December 2016, Alexander Povalko was appointed general director of the Russian Venture Capital Company (RVC). The announcement of Povalko's appointment took place at a meeting of the RVC board of directors.

Until that moment, the duties of the general director of RVC were temporarily performed by Evgeny Kuznetsov, the ex-deputy general director of RVC. The previous official head of the company - Igor Agamirzyan - voluntarily left his post in June 2016.

"RVC is faced with the task of developing a new development strategy taking into account the following key points. First, as a project office, RVC should bring the mechanisms for supporting and implementing the National Technology Initiative to full-scale deployment and operational capacity. Secondly, it is necessary to continue the integration of RVC and the Skolkovo Foundation, especially in terms of organizing venture financing for Skolkov projects, "Deputy Minister of Economic Development of Russia Oleg Fomichev commented on Povalko's appointment. - Already, work is underway on the creation of three joint venture funds with a volume of at least 2 billion rubles each. Thirdly, RVC needs to focus on creating turnkey venture ecosystems in Russia, forming the necessary funding funds and replicating the best models of interaction between market participants. "

2020

House and office searches - house arrest

On June 3, 2020, it became known about searches in the office of the Russian Venture Company (RVC) and in the house of its general director Alexander Povalko. They were conducted by employees of the economic security service of the FSB and the police in the framework of a criminal case initiated on the fact of abuse of authority (part 2 of article 201 of the Criminal Code).

Investigators suspect that the money of the state-owned company could have been invested in the personal projects of its head, Kommersant writes, citing its sources. According to them, the amount of violations is about $600 thousand, but it can grow to $3 million.

According to the newspaper, this criminal case grew out of another investigation - about the criminal prosecution of the former director of the investment department and member of the board of RVC Jan Ryazantsev and co-founder of the Bright Capital fund Mikhail Chuchkevich, who are accused of embezzling 1.3 billion rubles from a venture capital company under the pretext of investing in the United States.

Entrepreneurs were arrested at the request of the investigation: they were charged with fraud on an especially large scale ( part 4 of article 159 of the Criminal Code of the Russian Federation). However, in 2019, after the intervention of the Presidential Commissioner for the Protection of the Rights of Entrepreneurs Boris Titov, the accused were released, the publication says.^[7]

According to Forbes, citing a source in RVC, the investigative actions are related to the investment of the "former management" of RVC in Alion Energy, which entered the RVC portfolio in 2012.

The press service of the RVC told TASS that the management and employees of the company in whose office are being searched are working normally.

The investigating authorities are studying the documents in the company's office, the focus of their attention is the "historical" portfolio of RVC, transactions in 2012-2016. We provide them with all the necessary assistance, - said the RVC.

On June 6, it became known that Povalko was sent under house arrest until July 21, despite guarantees from the head of Rusnano Anatoly Chubais and the chairman of Skolkov Arkady Dvorkovich.

Case Povalko stirred up the business environment. As the founder of QiwiSergey Solonin noted on his Facebook page, in the light of these events, "the horror for the environment that we built together for business and entrepreneurs covers him." According to him, the situation around the RVC shows that the public fund market "seems to want to finally kill, without even letting it really be born." Solonin also urged not to be silent about those who want to "build a modern country."

The defendant's lawyer considers the prosecution's arguments absurd. Georgy Antonov notes that there is no damage in the case. When asked about the essence of the suspicions presented, the lawyer noted that the deadline for fulfilling obligations under the loan agreement ends in 2022, "therefore he is charged with the fact that he did not take action as a leader so that the debtor quickly repaid the debt." The RVC itself is also confident in the innocence of the leader.

Later, Vedomosti reported that Povalko was charged under an article on abuse of power with serious consequences (part 2 of article 201 of the Criminal Code, up to 10 years in prison). Here is a summary of the newspaper's investigation:

• Povalko is charged with not doing anything so that the British subsidiary of RVC - the RVC I LP fund - returned the debt of $5 million to the parent state-owned company. $2 million of borrowed funds were returned, but the debt should have been fully repaid only by 2022.

• The RVC I LP fund invested in foreign projects and was managed by Russian Venture Asset Management LTD (RVAM). For each investment, RVC allocated separate loans to the fund, which were approved by the RVC board of directors. In just 10 years of operation, RVC I LP has invested in three companies - Bright Source Energy Inc. (2010), Soft Machines and Alion Energy (2012).

• In 2012, RVC lent $5 million to RVC I LP to buy a stake in Soft Machines Inc. At that time, Igor Agamirzyan was the general director of RVC. When he left this post at the end of June 2016, acting Evgeny Kuznetsov was appointed CEO, under him the sale of a stake in Soft Machines to Intel took place. In total, $220 million was invested in the project, Intel bought it for $250 million, so the profit was not high.

• The money raised for a stake in Soft Machines did not immediately go to the RVC I LP account: in the fall of 2016, RVC I LP received only 80-85% of the amount. Although most loan agreements had the condition that the money was returned to RVC immediately after the sale of the asset, the British fund could leave $5 million in the account until 2022 without violating the terms of the contract.

• The fund invested the first $10 million in Alion Energy in 2012. Alion has consistently demanded new cash injections, and RVC reported in 2018 that its total investment in Alion Energy was $22.3 million. Of these, $3 million was money raised from the sale of a stake in Soft Machines.

• The decision to leave part of the funds from the sale of Soft Machines shares in the accounts of the subsidiary fund was made by Povalko, doing so bypassing the necessary legal procedures, but without personal benefit. As Kommersant wrote, the tranche amounted to about $600,000, and such an amount was required by the decision of the RVC board of directors.

• Sources of the newspaper claim that the tranche of $600,000 may be related to the need to pay damage for the illegal dismissal of the American representative of the fund, Axel Tillman (he was fired in 2016 Evgeny Kuznetsov without paying compensation and recognized as injured under American law, but the payment of compensation to Tillman from the fund funds took place only early 2017 under Povalko).

New charge in abuse of power case

The Investigation Department of the Ministry of Internal Affairs for the South-Western Administrative District (South-Western Administrative District) of Moscow presented a new charge to the general director of the RVC Alexander Povalko of committing a crime under Part 2 of Art. 201 of the Criminal Code of the Russian Federation (abuse of authority, entailing grave consequences). This was announced by Kommersant on July 3, 2020^[8].

The reason for the new accusation of Mister Povalko was the materials of the "K" department of the FSB economic security service.

According to investigators, Povalko, using his managerial functions "in order to extract benefits and advantages in the interests of third parties," under the guise of performing international investment activities on April 28, 2017 transferred $600 thousand. (at the exchange rate of 34.2 million rubles) from RVC I LP accounts (a 100% subsidiary of a Russian company) in Silicon Valley Bank of the American company Alion Energy Inc., which was in bankruptcy, which did not return back. At the same time, according to the investigation, the investment committee of the RVC, its board or the board of directors of the venture capital company did not approve the investment in Alion Energy.

The general director of RVC did not deny that by the end of 2016 Alion Energy was in a pre-bankruptcy state and its securities lost significantly in weight, however, according to him, the basic agreement on the purchase of its securities was concluded with the company on December 19 of the same year. Povalko was appointed to the post of general director of RVC on December 22, that is, three days later. According to the accused, only in mid-2017, the board of RVC JSC decided to stop investing money in the activities of an American company. But, according to the basic agreement, the preparation of which was carried out by the RVC Strategic Investment Directorate under the leadership of Jan Ryazantsev, it provided for requirements for payments (investments). In addition, the agreement provided that in the event of a refusal to invest in Alion, RVC would also lose funds previously invested in this company.

Earlier under investigation were Ian Ryazantsev and a member of the board of directors of Alion Energy Inc., co-founder of the venture capital company Bright Capital Mikhail Chuchkevich, who were charged with embezzlement (part 4 of article 159 of the Criminal Code) $22.7 million, previously allocated to the American company for the development of solar panels. Unlike Povalko, who acted as the applicant in their case, the accused are under recognizance not to leave.

The general director of the RVC was sent under house arrest on June 5 by the decision of the Gagarinsky District Court of Moscow. Initially, the Ministry of Internal Affairs for the South-Western Administrative District charged him with another abuse related to RVC I LP. Namely, not to ensure the return of all $5 million, which RVC, through RVC I LP, spent back in 2012 on the acquisition of 9 million 458 thousand preferred shares of the series V-2 the English semiconductor company Soft Machines Inc. Under the contract signed by Povalko's predecessor as head of the RVC, Igor Agamirzyan, only $2 million was returned.

On June 29, the Moscow City Court recognized Povalko's house arrest as legal, slightly adjusting only the date of the preventive measure - it will end not on July 21, but on July 20.

The lawyer of the head of the RVC Georgy Antonov denies information about the presentation of a new announcement^[9].

After the election of a preventive measure in the form of house arrest to my principal, the investigation charged him, which was clarified. No more new charges were brought against him, - Antonov informed.

The RVC does not provide any comment on Povalko's new accusation.

Removal from the post of general director of RVC

As it became known on September 17, 2020, the Tverskoy District Court of Moscow dismissed the general director of the Russian Venture Company (RVC) Alexander Povalko, accused of abuse of power, which led to the loss of $3.6 million.

The court granted the petition to remove Povalko from office. Otherwise, according to the investigation, the head of the RVC can take advantage of his official position to put pressure on his subordinates, who are witnesses in the case.

In addition, according to investigators, Povalko can "take measures to destroy evidence and generally obstruct the investigation of a criminal case" if he remains in office.

According to Kommersant, Alexander Povalko received 1.8 million rubles a month from RVC. Now he has lost this money, so the judge appointed him an allowance from the state in the amount of one minimum wage. Then the court extended the arrest of the top manager for another two months.

The court then granted a motion to extend Povalko's house arrest for another two months.

A previously open letter in support of Povalko was signed by 22 venture capital investors. They pointed out that the events associated with the arrest of Povalko "catastrophically undermine confidence in budget funds" and now "entrepreneurs will be even more careful to use them to develop projects or abandon them altogether."

Povalko himself does not admit guilt. Speaking in support of the entrepreneur, members of the RVC board of directors called him an effective, principled and honest leader, who in his management decisions "consistently defends the interests of the company and its shareholder, the Russian Federation." At the same time, it was emphasized that RVC has dozens of venture capital funds with a total capitalization of about 70 billion rubles, as well as hundreds of fast-growing innovative projects in the field of medicine, power and industry.^[10]

Departure from the Board of Directors of Rusnano

On September 23, 2020, Rusnano approved a new board of directors. He was left under house arrest by the head of the Russian Venture Company, Alexander Povalko. His place was taken by Deputy Minister of Finance Irina Okladnikova. Read more here.

2021

End of investigation and waiting for trial

The investigation of the criminal case against Alexander Povalko was completed in June 2021. He was finally charged under Part 2 of Art. 201 of the Criminal Code (abuse of authority, entailing grave consequences).

The Povalko case has 15 volumes, at which time the defense gets acquainted with his materials. The investigation expects that in June the case will be sent to the Moscow prosecutor's office, and then to the court for consideration on the merits. The ex-head of the RVC is under house arrest, the court extended it for another two months, rejecting the lawyers' petition to change the preventive measure to a recognizance not to leave.

Povalko does not admit guilt, he believes that he has to answer for the deals made before him.

The Alion investment case is related to an investigation into the former director of the investment department and member of the board of RVC Jan Ryazantsev and member of the board of directors of Alion Mikhail Chuchkevich, who were arrested in 2018. According to the investigation, Ryazantsev, having learned about the discussion of Alion financing in the RVC, entered into an agreement with Chuchkevich. Despite the fact that the RVC board of directors did not see the need to support Alion, which was then experiencing financial problems, Ryazantsev transferred more than $22 million to its account under loan agreements. These funds, according to investigators, Ryazantsev and Chuchkevich were divided and appropriated. Top managers spent 11 months in jail, they were released on recognizance not to leave. Chuchkevich's lawyer told Kommersant that these cases are being investigated separately.

Unsuccessful appeal against house arrest

The Moscow City Court refused the ex-head of the RVC Alexander Povalko to change the preventive measure and remove house arrest. TAdviser was informed about this by the press service of the court.

On November 8, 2021, the Moscow City Court considered the appeal of Alexander Povalko against the decision of the Tagansky District Court of Moscow on 11.08.2021, which extended the term of detention under house arrest. The appellate court upheld the district court ruling and dismissed the complaint.

Alexander Povalko was placed under house arrest on June 5, 2020, initially it was decided that the conclusion would last until July 21, 2020. However, in the process of investigation and trial, the preventive measure was extended seven times. In total, by November 8, 2021, Alexander Povalko has been under house arrest for more than 17 months.

2022: Alexander Povalko came out of house arrest

The Tagansky Court of Moscow on January 12, 2022 softened the measure of restraint for the former head of the Russian Venture Company (RVC) Alexander Povalko and released him from house arrest. This, with reference to sources, reported RBC.

According to the agency, a ban on certain actions was chosen as a preventive measure. Now Alexander Povalko is allowed to leave his home, but it is still forbidden to communicate with witnesses, victims, accused and suspects in his criminal case.

At the same time, on the portal of the courts of general jurisdiction of Moscow, it is reported that the consideration of the case on the merits due to the absence of witnesses from January 12 was postponed to January 18, 2022.

2024: Sentence - 4 years in prison

On October 18, 2024, the Tagansky District Court of Moscow announced the verdict to the former Director General of the Russian Venture Company (RVC) Alexander Povalko. He received four years in prison in an abuse of power case.

A criminal case against Povalko was initiated in the summer of 2020. The process is associated with investments in foreign venture projects, the damage from which is estimated at more than $2 million. According to the case file, in 2012, an agreement was concluded between RVC and its British subsidiary RVC for the purchase of Soft Machines shares for $5 million. The company, according to the Kommersant newspaper, managed to return $2 million to its Russian partner, while it promised to return the rest in 2022. The investigation accused Povalko of not providing a full return on investment.

Alexander Povalko in court

By a court verdict, Povalko was found guilty of committing a crime under Part 3 of Art. 285 of the Criminal Code - abuse of office. He was sentenced to four years in prison with a sentence in a general regime correctional colony. In addition, he was deprived of the right to hold positions in state bodies related to the implementation of organizational, administrative, administrative and economic functions for two years.

Povalko was taken into custody in the courtroom: until the sentence comes into force, he will remain in jail. It is noted that the prosecution requested seven years in prison for him, while the defense insisted on an acquittal. More than 20 venture capital investors signed an open letter in support of Povalko. They pointed to a "catastrophic undermining of confidence in budget funds" in connection with a criminal case against the ex-head of the RVC. The defense intends to appeal the verdict.^[11]

Awards

It has state and departmental awards.

Hobbies

Tourism, alpine skiing.

Marital status

Married, daughter^[12].

Notes