Srei, Vnesheconombank To Set Up $200 Million IT, Innovation Fund
Srei Infrastructure Finance has said on Thursday (8 June) that it has signed a Memorandum of Understanding with Vnesheconombank, a Russian state development institution which operates to enhance competitiveness of the Russian economy, to create a $200 million IT and Innovation Fund.
The fund will promote Indian-Russian cooperation in the area of IT technologies and innovation will explore investment opportunities in technology companies in Russia, India and other selected regions.
"We are excited to partner Vnesheconombank in exploring investment opportunities in the area of technology and innovation and we will leverage the rich scientific heritage and growth potential of India and Russia.” said Hemant Kanoria, Chairman and Managing Director, Srei, while commenting on the MoU.
The new fund will serve as a two-way bridge between the Indian and Russian markets and create opportunities for India-Russia cross-border technology cooperation, Kanoria added."
Srei is currently one of India's largest integrated infrastructure institutions with around $5.5 billion of consolidated assets under its management. The company, which has been in the field of national infrastructure building for about 30 years, is focussed on businesses including infrastructure finance, advisory and development, infrastructure equipment finance, alternative investment funds, capital markets and insurance broking.
