SC Capital, Sk Capital formerly Skolkovo - Venture Investments, Skolkovo Ventures

Sk Capital is an investment platform for managing VC&PE funds, raising funding for fast-growing companies.

History

2024: ВЭБ.РФ Joining Shareholders

ВЭБ.РФ entered the share capital of the investment platform Sk Capital (SK Capital LLC) on a parity basis (50/50) with the Skolkovo Fund. The Fund announced this on February 1, 2024. Attracting such a shareholder as ВЭБ.РФ will unite the financial and strategic resource of the state corporation, the technological expertise of the Skolkovo Fund and the strong investment team of Sk Capital.

The management company Sk Capital, with many years of experience working with private and corporate investors, will become a key platform for large investment projects to create technology holdings in strategically important for. Russia industries The company will continue to manage venture capital funds worth 6 + billion rub, act as an investment bank fund for technology companies, advise corporations in implementing an innovative growth strategy and create opportunities for startups and investors to enter into transactions in the early stages. Thus, Sk Capital will become a single investment platform for private and institutional capital in working with technology entrepreneurs at all stages of business development.

Among the tasks facing Sk Capital is assistance in the implementation of ВЭБ.РФ 's investment policy within the framework of the country's technological development agenda. Earlier, the state corporation has already allocated the first four areas of investment activity - cyber security telecommunication equipment, technology in the oilfield service and. The unmanned aerial vehiclesВЭБ.РФ Supervisory Board decided that it would allocate 2-3 years on the horizon for 50 venture capital investments billion with rubles active involvement of private capital. Plans to create a large company in the region cyber security were announced in the summer of 2023 by the Chairman of the ВЭБ.РФ Igor Shuvalov at a meeting with the President. RUSSIAN FEDERATION

The parity structure of shareholder participation seems to us to be the best solution and the logical continuation of the integration of the competencies of the ВЭБ.РФ and Skolkovo teams. On the basis of the investment platform, we combine our financial capabilities, investment and technological expertise. Startups of the Skolkovo ecosystem will receive new opportunities for their development and implementation of projects aimed at ensuring the technological sovereignty of Russia, - said ВЭБ.РФ Chairman Igor Shuvalov.

Technology holdings will become one of the tools for assembling innovative products into complex solutions based on the current portfolio of 4 thousand startups. For this purpose, the accumulated competencies of the Skolkovo Foundation for the selection of startups, as well as their "growing" to the level of investment maturity, will be in demand, "said Igor Drozdov, Chairman of the Board of the Skolkovo Foundation.

{{quote 'Financial and strategic resources ВЭБ.РФ will fundamentally increase the capabilities of Sk Capital against the background of the launch of a new investment cycle. The partnership will allow combining the competencies and capabilities of the entrepreneurial and scientific and technical community, the strategy of the state and the needs of big business, - commented Vladimir Sakovich, CEO of Sk Capital. }}

2023

Launch of a new venture capital fund of 4 billion rubles

On November 24, 2023, the investment platform Sk Capital (formerly Skolkovo Ventures) announced the launch of a new venture capital fund of 4 billion rubles to invest in IT startups. The planned volume of investments in one project is from 50 million to 500 million rubles.

According to the press service of Skolkovo, the new fund will focus on financial support for developers of IT products with annual revenues of 25 million rubles, which have the potential to occupy a leading position in their segments of the Russian IT market. Priority will be given to the teams of founders with experience in implementing successful business projects and expertise in target industries. According to Alexander Chaikin, managing partner of the Sk Capital IT fund, within the framework of the new initiative, it is planned to form a balanced portfolio of 10-15 companies.

Our years of experience in venture fund management and market realities suggest that this requires flexibility in the choice of directions and stages for investment. With the new fund and a long investment horizon, our capabilities are expanding both to support startups all the way from attracting first investments to the possible sale of the business, and to provide liquidity to larger companies before the IPO, Chaikin said.

The head of the venture capital business of Sk Capital Pavel Morozov, commenting on the launch of a fund to invest in IT startups, noted that in the context of the threefold fall of the Russian venture capital market since the beginning of the special military operation of the Russian Federation in Ukraine, information technology developers who see Russia as the main market need resources for product development.

In the current situation, we and our investors see growing demand for institutional venture capital, "he added.[1]

RVC withdrawal from the founders

According to the Unified State Register of Legal Entities, in May 2023, the Russian Venture Company withdrew from the founders of SK Capital LLC.

Integration of science and capital on the basis of the Department of Technological Entrepreneurship MIPT + Skolkovo

Sk Capital on April 7, 2023 announced the integration of science and capital on the basis of the Department of Technological Entrepreneurship MIPT + Skolkovo. Read more here.

2022

Name change to "SK Capital"

Since September 27, 2022, the full name of the organization has been changed from Skolkovo Venture Investments LLC to SK Capital LLC.

Creation of the company jointly with Russian Post

On September 5, 2022, it became known about the creation in Russia of a new company for the development of unmanned delivery technologies - BAS Consortium LLC. This is a joint project of Russian Post and Skolkovo Ventures. Read more here.

Sale of 30% of BFG Group to Russian IT company

On July 12, 2022, it became known that Skolkovo Ventures and the Internet Initiatives Development Fund (IIDF) sold almost 30% of BFG Group to the Center for Effective Production Solutions (CEPR), specializing in industrial equipment maintenance. Read more [[BFG Group
BFG Group|here]].

2021

Investing in inapp insurance technology developer

On October 26, 2021, a resident of the Skolkovo Foundation, a developer of technologies in the field of insurance and related services for life, inapp informed TAdviser about raising $450 thousand from the Skolkovo Ventures business angel club. Read more here.

Investing in a developer SaaS-ß¿ßÔѼ Brandquad

September 30, 2021 it became known about the investment of €2.5 million in. Brandquad The developer SaaS of a system for content analytics in e-commerce, storage and exchange of data on goods between manufacturers and retailers raised €1.5 million from Skolkovo Ventures and €1 million from BPI France (state investment bank). France More. here

The start of the creation of holdings from resident startups

Skolkovo Ventures begins to create holdings from startups-residents Skolkovo"." The head of the company, Vladimir Sakovich, announced this in early March 2021. here More.

Sale of a stake in the food delivery service Elementaree to the head of Rusagro

As it became known in mid-February 2021, the Skolkovo Ventures fund left the food delivery service, Elementaree selling a share to the head of Rusagro"." Maxim Basov Its participants did not disclose the financial component of the agreement. More. here

2020

Skolkovo Ventures is an investment platform created in 2017 to attract external financing, manage venture funds, develop and market new financial products for fast-growing high-tech companies. Skolkovo Ventures manages VC funds investing in innovative developments in the field of IT and Industry 4.0, a total volume of over 5 billion rubles. (data for 2020).

Ecosystem and Services

Skolkovo Ventures is an investment platform to attract external financing, manage venture funds, develop and market new financial products for fast-growing technology companies.

The fund invests in fast-growing tech startups, helps raise outside funding for company founders and develops an ecosystem of venture capital investments.

Among the partners of Skolkovo Ventures as of November 2020: Rosatom, RVC, Russian Railways, Russian Helicopters, UAC, IBS, Dentsu, Softline, Huawei, etc.

Deals: Ivideon, Station, Vocord, NFWare, VIST Group, Maximum Education, Geonaft, Elementaree, CM.Expert, BFG Group, Roistat, Fieldbit, Data Matrix.

Ecosystem

Skolkovo Ventures is part of Skolkovo's entrepreneurial space with a unique ecosystem of innovations accumulated over 10 years.

The company's arsenal includes a wide range of tools - Startups, Investors, Skoltech, Industrial Partners and Technopark help unite the interests of capital and technology.

The largest hub of technological projects in Russia (more than 2600 residents from IT to biotech as of November 2020).

Accumulated investment and market expertise - a third of venture capital investments Russia in are carried out with residents. Skolkovo

Access to Russian private, corporate and institutional investors and international funds.

Services

Venture Capital Investments

• Venture funds Skolkovo Ventures - investments in technology startups at the stage of growth in the field of IT and Industry 4.0 (100-500 million ₽ in one company).
• Pre-IPO investments - A fund managed by VTB Capital Investments in partnership with Skolkovo Ventures invest in late-stage technology companies (0.5-1.5 billion ₽ in one company).

Investment bank

Support of shareholders and founders of technology companies in attracting investments or selling business

• development of capital raising strategy
• preparation of a package of documents
• investor search

Technology Growth Strategies for Corporations

Support for strategic investors and corporations in implementing the tasks of technological diversification of current business, integration into the key trends of their sector and the Digital Economy national project

• diagnostics of current state of business and competitive environment
• assessment of global industrial innovation practices
• formation of an investment strategy in innovation
• introduction of investment tools for work with innovations (CVC, M&A, JV), formation of a deal funnel

Investment mentoring and angel business investment

• Consulting and educational support of the seed stage, aimed at analyzing the investment attractiveness of the project, developing recommendations for its improvement, preparing a package of documents and providing recommendations for finding business angels and early stage funds
• Angel Business Investments
• Angels Business Gain Access To Wide Funnel Of Early Stage Projects And Investment Subsidy Program - Skolkovo Ventures Helps Them Find Startups And Syndicate Deals Through Our Angel Business Community And Open Pitch Sessions

Skolkovo Ventures - minority shareholder of SLAM technology developer Dioram

Russian SLAM technology developer - IT-startup Dioram December 18, 2020 TAdviser announced the attraction of 35 million ' rubles angel' investments during the sowing round. In the last seed round, Dioram raised about $450,000 in investments from angel businesses. Also, Skolkovo Ventures became a minority shareholder in Dioram. More. here

Skolkovo Ventures - winner of the national prize "Venture Investor"

In October 2020, the Industrial Foundation under the management of Skolkovo Ventures received the prestigious prize of the Russian Venture Investment Association (RAVI). The BFG Group investment in a software developer to optimize production processes was recognized by the jury as the best early transaction.^[2]

Investment up to 200 million rubles. divided into several parts. The first in the amount of 50 million rubles has already been provided.

Strategic Cooperation Agreement with VTB

On October 20, 2020, it became known that within the framework of the Open Innovations forum, Skolkovo Ventures and VTB Bank signed a strategic cooperation agreement, under which partners will create and develop projects in the field of digital assets. The agreement was signed by Deputy President-Chairman of the Board of VTB Bank Vadim Kulik and General Director of Skolkovo Ventures Vladimir Sakovich. The document involves the interaction of VTB and Skolkovo Ventures in the framework of the creation and development of projects in the field of digital assets.

Partners are considering participating in joint projects to solve management problems big data in, public sector as well as prioritizing the development of a project strategy in the field of products and market services. cyber security

Skolkovo Ventures will be responsible for strategic support of projects, consolidation of assets, formation of a pool of strategic, technological and financial partners.

In particular, at the first stage, Skolkovo Ventures can conduct an analysis of strategies and potential for business of a number of advanced development projects in the interests of VTB.

"As part of the implementation of VTB Bank's digital transformation strategy, we are linked by a long-term partnership with Skolkovo in many areas. This agreement is another stage in expanding our cooperation. I hope that together with Skolkovo Ventures we will be able to create many new bright projects for the development of the digital economy in Russia, "said Vadim Kulik, Deputy President and Chairman of the VTB Board.

"Skolkovo Ventures has extensive experience in investment and technology partnerships. As part of the accumulated competencies and access to the pipeline of projects that are in the ecosystem of the Skolkovo Foundation, we will create new investment assets in the field of big data for the state and in the cybersecurity sector, providing access to the most mature technological solutions on the market, including the Skolkovo Foundation portfolio. In our work, we will focus on the long-term tasks of VTB Group, "said Vladimir Sakovich, CEO of Skolkovo Ventures[3]

Japanese holding and Skolkovo invest 1.5 billion rubles in Russian IT startups

On August 25, 2020, the Japanese holding Dentsu and Skolkovo announced the investment of 1.5 billion rubles in Russian technology startups. To do this, the partners created a joint venture Station. Read more here.

Investing 2.5 billion rubles in IT projects affected by coronavirus

On May 20, 2020, it became known that Skolkovo Ventures will invest 2.5 billion rubles in IT projects affected by the COVID-19 coronavirus. Investments will be carried out on the terms of mezzanine financing (this is a loan with an additional opportunity to buy shares for a certain amount and under certain conditions),  Kommersant reports with reference to a representative of the venture capital platform.

Leta Capital Managing Partner Alexander Chachava explained that mezzanine financing is convenient for IT companies to which banks do not give loans without a collateral base. Such an instrument gives greater profitability than a loan, and less risk than investments, adds venture investor, founder of A.Partners Aleksei Solovyov.

According to Chachava, SaaS companies have a great need for mezzanine financing in Russia. They need working capital for growth, which is very difficult to increase in the current environment.

The main difficulties by May 2020 are experienced by technology companies in the field of tourism - booking services for hotels, tours, tickets, as well as those related to the hospitality sector - booking tables, automating restaurants, said Alexander Konoplyasty, managing partner of Flashpoint VC.

According to KPMG Stepan Svetankov, head of the business financing services group in Russia and the CIS, for Skolkovo Ventures investments in such areas may be interesting in terms of higher profitability compared to conventional loans, since sooner or later these industries will recover.

According to Solovyov, the offer of Skolkovo Ventures may be interested in technological projects in the restaurant and hotel business, ticket services, coworking spaces, as well as projects related to hiring.^[4]

Investing in CM.Expert

On March 3, 2020, it became known that Skolkovo Ventures, a platform for managing venture capital funds and attracting funding to technology companies, will invest 200 million rubles in the first Russian online platform for managing a used car warehouse for professionals CM.Expert. The attracted investments will be aimed at accelerating product development and entering new markets.

Earlier, other companies invested in the startup car market. Basically, this money went to the development of online platforms for merging with financial products. The challenge for CM.Expert is to capitalize and become a market leader in systems solutions for secondary vehicles.^[5]

2019

The technological focus of the Skolkovo Ventures fund includes developments in the field of robotics, additive technologies and new materials, unmanned technologies, intelligent power, predictive analytics and the Industrial Internet of Things. The target size of the venture capital fund is 2.5-3 billion rubles (data for 2019). The fund will invest in Russian startups in financial technology, artificial intelligence (AI), virtual and augmented reality (AR/VR), big data and cybersecurity.

VTB and Skolkovo agreed to invest billions of rubles in stronger startups

On October 22, 2019, VTB Capital Asset Management and Skolkovo Ventures announced plans to cooperate in the field of pre-IPO investments by signing an agreement. According to VTB, the goal of the cooperation is to increase the capital of investors in the closed mutual investment fund VTB Capital Pre-iPiO Fund and the development of high-tech industries in Russia. The size of the fund as of October is 10 billion rubles. Read more here.

Vladimir Sakovich appointed CEO of Skolkovo Ventures

On August 29, 2019, the Skolkovo Foundation announced that Vladimir Sakovich was appointed CEO of Skolkovo Ventures. In this post, he replaced the founding partner of Skolkovo Ventures Vasily Belov, who moved to another job in the technology industry.

Investment in BFG Group

Skolkovo Venture Fund - Industrial I under the management of Skolkovo Ventures, which invests in Industry 4.0 projects, will invest up to 200 million rubles in BFG Group, a pioneer in the Russian market in the field of software for optimizing production processes. This was announced on August 21, 2019 by the Internet Initiatives Development Fund. Read more here.

Investing in Maximum Education

Skolkovo Digital (invests under the management of Skolkovo Ventures and iTech Capital with the participation of the capital of the Russian Venture Company) acquired a stake in Maximum Education. The volume of investments amounted to 390 million rubles, part will be invested by CapMan and Russia Partners funds, which, among other companies, own Maximum Education, Kommersant reported on July 18, 2019.^[6]

Investing in Roistat

On February 4, 2019, it became known that the investment fund iTech Fund II, LP under the management of iTech Capital, together with the information technology fund Skolkovo Digital under the management of Skolkovo Ventures, acquired a stake in Roistat. The total investment amounted to $4 million.

The attracted investments will be aimed at strengthening Roistat's position in the Russian market, as well as to enter foreign markets.

"We plan to invest some of our resources in the development of new product functions that bring our customers' businesses to a fundamentally different level. These are such products as: predictive analytics, automation of decision-making in business, speech recognition in calls, analysis of data based on macro indicators and others, "said German Gavrilov, co-founder of the project[7]

2018

Investing in Ivideon

On October 1, 2018, it became known that the venture capital fund, Rusnano Sistema SICAR created jointly AFK Sistema and, and the Skolkovo Rusnano Ventures Industrial Fund, created with the participation, RVC invested $8 million in the next round of financings the platform Ivideon solution company (V) and. cloudy video surveillances SaaS video analysts Skolkovo Ventures also acted as an investment adviser on the deal.

Ivideon plans to use the funds raised to promote the solution in foreign markets, as well as to expand the client base 5 times over 3 years - primarily by increasing the number of representatives of medium and large businesses connected to the service. The company plans to increase its share of international revenue to 40% in the next 3 years.^[8] More details here.

300 million rubles from Russian Railways

In June 2018, Russian Railways signed an investment agreement in the amount of 300 million rubles in the Industrial Venture Fund under the management of Skolkovo - Venture Investments LLC. Investments in the Skolkovo Venture Fund - Industrial I are part of the comprehensive work of Russian Railways to introduce innovative domestic technologies to modernize the industry and increase its efficiency.

JSCo Russian Railways together with the Fund will analyze and select for investment the latest technologies and solutions, including in sectors such as alternative power supplies for rolling stock and infrastructure, deserted means and TECont of infrastructure health, TECont and modeling of infrastructure lifecycle, IT platforms for client services in the field of freight and passenger transportation, as well as systems for optimizing transportation and logistics chains, taking into account the synchronization of the transport and warehouse systems.

220 million rubles from Qiwi CEO Sergei Solonin

Co-founder and CEO of QiwiSergey Solonin will invest 220 million rubles. personal funds in the IT fund Skolkovo Ventures, a subsidiary of the Skolkovo Foundation, which manages three of its venture funds, representatives of Solonin and Skolkovo Ventures told Vedomosti. The parties will sign the agreement on May 31, 2018.

Skolkovo Ventures will invest in already quite developed companies that are engaged in technologies of artificial intelligence, computer vision, e-commerce, lists the general director of Skolkovo Ventures Vasily Belov. As well as in the technology of the Internet of Things, virtual reality, big data and cybersecurity, listed on the website of the management company.

In May 2018, Sergey Solonin is a member of the investment committee of Skolkovo Ventures. The committee is responsible for decisions on investments and on withdrawal from portfolio companies, for large transactions of the fund.^[9]

300 million rubles from Russian Helicopters

The industrial holding "Helicopters of Russia" (part of the state corporation "Rostec") invests 300 million rubles. in the industrial fund Skolkovo Ventures - a subsidiary of the Skolkovo fund, which manages three of its venture capital funds. This was reported to Vedomosti by representatives of Skolkov and confirmed by a representative of Russian Helicopters. The parties signed a cooperation agreement on May 31, 2018.

Helicopters and Russia Skolkovo will also conduct a joint acceleration program for. startups It will help innovative companies learn how to work with large industrial customers and enter the market faster, partners say. The holding is interested in high-tech startups, whose developments can be used to improve and develop products produced by Helicopters of Russia - increasing the competitiveness of helicopters and unmanned vehicles, - explains a company representative. - The holding is ready to consider both sowing and strategic investments - the main selection criterion is the uniqueness of technologies and their compatibility with the products of Russian Helicopters.

Russian Helicopters not only invest in the fund, but also undertake to pilot and introduce startup technologies in which the fund invests, said Vasily Belov, CEO of Skolkovo Ventures. This will be the key difference between the Skolkovo fund: startups will immediately have the opportunity to work with large corporate customers, he said.^[10]

2017

100 million rubles from IBS

In October 2017, IT holding IBS announced its investment in Skolkovo Ventures. 100 million rubles will be received by the Skolkovo Venture Fund - IT I under the management of Skolkovo Ventures. Thus, IBS became the first private IT fund investor company.

The public signing of the agreement with the participation of IBS CEO Svetlana Balanova and Skolkovo Ventures CEO Vladimir Belov took place on October 17, 2017 at the Open Innovations forum in the Skolkovo technopark. Below is a video from this event:

The Skolkovo Venture Fund - IT I, with a target size of 2.5-3 billion rubles, will provide financial support to Russian startups in the field of financial technology, artificial intelligence (AI), virtual and augmented reality (AR/VR), big data and information security.   According to Svetlana Balanova, the deal with Skolkovo Ventures is not just an IBS investment, but the possibility of wide access to a huge number of technologies and small Russian startups that produce interesting solutions.

Vladimir Belov noted that the cooperation between Skolkovo Ventures and IBS will allow startups to get "smart" money that will help them achieve commercial success and reach a wide base of IBS clients.

300 million rubles from the UAC

The United Aircraft Corporation (UAC) will invest up to 300 million rubles in the Skolkovo Venture Fund - Industrial I, created by Skolkovo Venture Investments LLC and the Russian Venture Company (RVC). An agreement on the conditions for the UAC to join the investment partnership was signed during the Opening of Innovation forum on October 16, 2017 in Skolkovo. The document was signed by UAC President Yuri Slyusar and General Director of Skolkovo - Venture Investments LLC Vasily Belov.

UAC will be the first strategic investor and partner of the Skolkovo Venture Fund - Industrial I investment partnership, attracted by Skolkovo Venture Investments LLC. Partnership with a target fund size of 2.5-3 billion rubles. will invest in Russian startups, taking into account the interests of implementing the "road maps" of the National Technological Initiative and stimulating the commercialization of the development results of the Skolkovo Foundation participants in the field of Industry 4.0: new materials, unmanned technologies, intellectual power, sensory, digital design, additive technologies, robotics, predictive analytics and other industrial areas. The anchor investor of the fund was RVC with an investment volume of 1.5 billion rubles. Previously, the concept of joint investment in small innovative companies was approved by the UAC Board of Directors.

"Skolkovo - Venture Investments, in addition to direct investment activities, participates in the development of the venture investment ecosystem in Russia. In this light, the decision of the UAC to become a strategic investor from among technological state-owned companies seems to us an extremely important sign for the entire industry. Our partnership testifies to the arrival in the venture capital market of the end consumers of innovation - large corporations. Investing through venture funds is a convenient tool for accessing the technology of the best startups in the early stages and allows you to share risks with other investors. It is important that UAC becomes an active partner, which allows you to form investment and startup competencies within the corporation, "commented Vasily Belov, General Director of Skolkovo - Venture Investments LLC.

See also

• Venture investing
• Venture capital investments in the IT sector of Russia
• Venture capital investments in Russia
• Corporate venture in the IT industry of Russia

Notes