Request for Proposals for Rusnano international nanotechnology fund
The Russian Corporation of Nanotechnologies RUSNANO is seeking proposals from leading investment
managers to take part in the setup and management of international nanotechnology fund.
The investment strategy of the fund envisions investments in high-tech companies with primary focus
in nanotechnology businesses, technology transfer and setup of production facilities in Russia.
Proposals received as part of the RFP process will be used for creation of the fund concept as well as
for subsequent selection of the fund manager. Applicants with best proposals will be presented to
Supervisory Council as potential fund manager. It may be that as a result of proposal review the
selection process will be carried out in several stages or, if required, by seeking additional proposals.
The decision to setup the fund, selection of fund manager, as well as terms of cooperation with the
fund manager is subject to approval by Supervisory Council, which will be based, inter alia, on the
proposal received during the RFP process.
RUSNANO is considering setup of international investment fund (Great Britain is being considered as
possible location for the fund) in the form of a partnership (other legal forms are being considered) in
Q4 2009 with the total fund size of up to up to $1bln.
RUSNANO is considering setup of a foreign wholly-owned subsidiary company which will act as
General Partner. Relationship between General Partner of the fund and the investment manager will
be based on the investment management contract, the terms of which will be discussed after the RFP
process as part of discussions with prospective applicants.
RUSNANO intends to commit up to 50% of the total fund size.
RUSNANO expects investment manager to be responsible for:
- arranging commitments of 50% or more of the total fund size from international investor,
- arranging investment pipeline in accordance with fund mandate,
- carrying out fund investments,
- arranging early exits.
Fund setup and management proposals are invited from interested parties which consider that their
organization can meet the mandatory criteria for the fund and which have relevant qualifications and
are able to fulfill the criteria outlined below.
• Format – Request for Proposal
• Proposals must be submitted by 5pm Moscow time on September 21.
• Tender Committee will communicate its decision no later than end of September.
• Tender Committee decision will be considered in preparation of international fund project
materials and will be presented to RUSNANO Executive Board and Supervisory Council and will
be subject to any subsequent decisions of RUSNANO Executive Board and Supervisory Council
• Authorizations/license to engage in investment management business or equivalent
authorizations/license (in case such authorizations are required in applicant home country)
• Absence of criminal record of managers/key employees , cases of applicant
authorization/license suspension or revocation or any other circumstances which can cause
doubts as to applicant goodstanding
• The applicant (firm/its partners/shareholders and/or management team) should demonstrate at
least 5 years of experience in managing venture/direct high-tech investment funds, including
nanotechnology investments of total size of no less than $500mln
• Consent to main criteria of the planned fund (see below)
• The applicant should confirm their commitment to arrange co-investments of up to $500mln,
but at least equal to the corresponding commitment of RUSNANO, subject to approval of fund
setup and applicant approval as fund manager by the Supervisory Council
Proposal evaluation criteria, in order of their importance
1. The applicant experience (firm/its partners/shareholders and/or
management team) in managing venture/direct high-tech
investments, including nanotechnology investments
2. Availability of investment project pipeline that meets fund investment
3. Availability of/ability to arrange co-investor commitments
4. The applicant experience (firm/its partners/shareholders and/or
management team) in managing direct investment funds or similar
investment structures, with consideration given to size of the funds
5. Experience investing in emerging markets
6. Availability of personnel which have required knowledge and skills to
manage nanotechnology investment portfolio and relevant business
7. Applicant’s ability to assist portfolio companies in accessing sales
8. Experience in co-investing government funds (federal, regional or
municipal) with description of relevant projects
9. The applicant should confirm their readiness to create and manage in
the future similar investment funds registered under Russian
Mandatory criteria for the fund
• Investment should focus primarily on advanced technology transfer and creation of production
facilities in Russia
• No less than 50% of the total fund size has to be invested in Russia in nanotechnology
• Fund investment projects should be aligned with strategic goals of RUSNANO (according to
RUSNANO Business Strategy)
• RUSNANO will require veto power on the investment committee
• RUSNANO will retain control of the fund (via wholly owned foreign subsidiary General Partner)
• RUSANO will require seat on the investment committee
• RUSNANO should be able to terminate investment management contract subject to the agreed
• RUSNANO will require access to project /portfolio company information by having access to
relevant statements/reporting, having seat in the board or other designated body of the
• The term of the fund should not exceed 10 years
List of required documents:
• Free format application signed by applicant’s authorized person which should include
applicant’s consent with fund investment criteria and fund setup and management proposal .
• Detailed free format applicant background information (with appendixes if required) that
confirm applicant qualifications and allows to evaluate applicant according to evaluation criteria
• Copies of applicant statutory documents
• Copy of applicant 2008 audited annual report
• Free format information about applicant’s founders/shareholders
Successful applicants will be required to provide notarized Russian translations of the above
How to submit the documents:
Proposal with any appendixes should be mailed to RUSNANO (regular or courier mail). Additionally,
proposal with any appendixes can be e-mailed to RUSNANO as a scanned copy.
Proposal package should be in a securely sealed envelope and contain description of the items
included in the package (description should be either a separate document or list of appendixes to
the proposal). The package should bear the following inscription:
1. “Proposal to participate in the open request for proposal for selection of manager for the
international nanotechnology fund”
2. “To be opened only in the presence of Tender committee or RFP initiator”
3. Addressed to: “State corporation “Russian corporation of nanotechnologies”, 117420, Moscow,
Nametkina str. 12A, Russia”
4. Addressed to: “Director for business-strategy Kiselev O.V.”
5. Addressee: Applicant full name and mailing address
Applicants must ensure delivery of their proposals to State corporation “Russian corporation of
nanotechnologies”, 117240, Moscow, Nametkina str. 12A. Sealed envelope with the proposal and cover
letter (in 2 copies) can be submitted via Reception on Floors 8 or 9.
Proposals received via Reception will be forwarded to Corporation employees for registration and an
incoming registration number will be assigned by RUSNANO administration department. Information
about incoming registration number can be obtained by phone +7 (495) 542-4444, ext. 1462.
In case the proposal is submitted via courier mail it is recommended to inform courier mail
representative or the courier of the above delivery procedure.
Scanned copy of the proposal and cover letter should be e-mailed to firstname.lastname@example.org, cc to
email@example.com. The e-mail subject field should contain the following description: “Proposal
for RFP. For registration” and description of the subject matter of the proposal according to the RFP.
Proposal will be considered registered on the date it was received by mail or e-mail. In case proposal is
submitted via e-mail, hard copy proposal should be delivered via regular mail (or courier) no later than
October 1, 2009.
Contact for additional information: Yury Emelin, head analyst, +7 495 542-4444