Moscow, Russia – September 5, 2016 – Sistema PJSFC (“Sistema” or “the Corporation”) (LSE: SSA; MOEX: AFKS) a publicly-traded diversified holding company operating primarily in Russia, and RUSNANO announce the launch of a private equity fund that will make investments in high technology companies and projects.
The fund will have up to USD 100m in capital under management. Sistema and RUSNANO each hold 50% in the fund. The partners will provide funds as it becomes necessary to finance specific transactions. The fund has been established for a 7-year term, which may be extended for an additional three years. Average investments are expected to be USD 5-20m. The fund will be open to third-party investors in the future.
The fund will be focused on investments in early-stage high technology projects as well as growing and established high technology companies in Russia, the CIS, Europe and Israel. The fund's primary industry focuses include microelectronics, energy efficiency, robotics, information and communication technology and other industries.
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Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Its revenue in 2015 reached RUB 708.6bn; its total assets equalled RUB 1.3tn as of 31 December 2015. Sistema's global depositary receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Stock Exchange. Website: www.sistema.com
For further information, please visit www.sistema.ru or contact:
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