I2BF and VTB launch $100m nano-tech fund
London-based asset management group I2BF is looking to raise a new $100m nano technology fund, which it will manage alongside Russian bank VTB.
I2BF and VTB were appointed by the new fund's primary investors, Russian nano-tech giant Rosnano and Kazyna Capital Management (owned by Kazakhstan's sovereign wealth fund). Both LPs already committed $25 million each. The remaining investment - between $50 and $100 million - will be raised by I2BF and VTB. The fund has a 10-year lifespan.
The vehicle will aim to invest in nano technolgy-related sectors contributing to the overall economies of both Kazakhstan and Russia. It is expected that a large portion of the fund's portfolio will fall under the "cleantech" label, given the prevalence of nano-tech in that field.
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