Rusnano Group (Russian: Роснано АО, lit. 'Rosnano plc.') is a Russian state-established and funded company. The Rusnano Group's mission is to create competitive nanotechnology-based industry in Russia. Rusnano invests directly and through indirect funds into all major knowledge-based areas where nanotechnology is widely implemented: electronics, optics, telecom, classic and renewable energy, healthcare and biotechnology, materials and metallurgy, engineering and chemistry.
History In April 2007 the Russian President Vladimir Putin has announced an Initiative termed «Strategy for Development of Nanotechnology Industry» in which he outlined the goals of new Russian policy on nanotechnology industry. The Group was founded in 2011 by reorganizing Russian Corporation of Nanotechnology, into RUSNANO JSC, RUSNANO Management Company LLC and a non-profit Fund for Infrastructure and Educational Programs (FIEP). These separate legal entities work together on increasing competitiveness and effectiveness of Russian companies in nanotechnology-related industrial fields. In 2015 Rusnano had 16 investment projects, including investments into about 97 plants and R&D companies in 37 regions of Russia. In 2016 many such enterprises were either dissolved, bankrupted or repurposed. In 2016 the company was on the verge of bankruptcy significantly devaluating below the equity levels but managed to recover. As of 2017, 100% shares of Rusnano were owned by the Russian government. In 2020 the government of Russia has merged it with VEB.RF. On December 3, 2020, Kulikov Sergei (Russian: Куликов Сергей) was appointed as CEO on a five-year term. Trade of company's securities was suspended on Moscow Stock Exchange in November 2021. The same year the company declared net loss of 120 billions rubles, 20 of which were settled, with the rest making into the mid of 2021. In June 2022 the company, led by newly appointed Kulikov, was again on the verge of insolvency. The subsequent October, media learned that the government was considering liquidating Rusnano. The company's position worsened after the introduction of international sanctions against Russia. Significant assets are supposed to be transferred to other state corporations. Finance Minister Anton Siluanov addressed President Vladimir Putin with a proposal to disband Rusnano. In September 2023, Vladimir Putin said that there was a "big financial hole" in Rusnano. A month later, the corporation announced its inability to pay its obligations and the possibility of bankruptcy. At this point, the government had not yet decided whether to save Rusnano.
Divisions
RUSNANO JSC is a holder of Group's assets, governed by the Board of Directors who are appointed by Russian Government. Fund for Infrastructure and Educational Programs (FIEP) was founded in 2013 as a non-profit organization managing various projects targeting creation of innovative nanotechnology-related ecosystem in Russia. All non-profit activities aimed at development of innovative Nano-industry ecosystem were segregated from business units to develop governance and structure of the Group.
RUSNANO Management Company
RUSNANO Management Company was created in 2013 to manage all JSC RUSNANO's assets, leading business development and investment activities. RUSNANO Management Company is governed by the Executive Board and Board of Directors. RUSNANO Management Company with combined value of assets under management at around $3 billion. Between 2007 and 2015 it invested into 107 tech portfolio companies, operating in Russia, US, Western Europe, and Israel. RUSNANO Management Company AUM exceeded $4 billion, as of December 31, 2018. The company manages eight Growth Capital and Venture Capital Funds and raised over $1,5 billion from both private and governmental investors from Russian and abroad with leverage ratio 1:3 from RUSNANO JSC to third-party investors, respectively. These funds are highly diversified by stage, sector, and geography diversifying risks and potentially creating additional value for investors.
Investment Strategy RUSNANO Management Company invests in projects in Russia and abroad with subsequent expansion to Russia (technology transfer to Russia/creation of manufacturing site and/or R&D center) or Russian technology transfer to foreign companies. RUSNANO Management Company acquires equity in innovative ventures and growth-oriented companies with scalable business models. The following hi-tech fields are of primary interest to RUSNANO Management Company:
New Materials (Nanomaterials) Nanoelectronics and Photonics Biotechnology and Pharmaceuticals Coatings and Surface Modification Renewable Energy and Energy Efficiency Nuclear Medicine and Medical Devices/Instrumentation Notable Portfolio Companies New Materials:
Monocrystal PLC is the leader in the world market of synthetic sapphires used in light emitting diodes, smartphones, tablet PCs and smart watches, for glasses of cameras, sensors of fingerprints as well as displays. Renewable Energy:
RUSNANO, together with the Finnish public power company Fortum on a matching funds basis, created the Wind Energy Development Fund (WEDF), with a legal status of an investment partnership, and capital of $520 million. Ninety percent of Fund's investments are aimed at construction of wind parks in Russia and in projects for localizing production of wind power equipment. Hevel Solar is one of RUSNANO's portfolio companies in renewable energy sector. In 2009, RUSNANO invested nearly $400 million in the company. Now Hevel markets itself as Russian largest integrated solar energy company. Its key activities are focused on manufacturing of solar modules, construction, and operation of solar power plants and research in the field of solar energy. Nanostructured Coatings:
Novomet Group is recognized as a leader in production of oil-submersible equipment, which is highly reliable and is intended for use in challenging conditions. Novomet's pumps owe their competitive advantage to their nanocoating—the result of the use of powder metallurgy technology. Healthcare:
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