OREANDA-NEWS. September 30, 2010. The Russian Corporation of Nanotechnology (RUSNANO), Singapore Economic Development Board (EDB) and 360ip, an international intellectual property investment and fund management firm headquartered in Singapore, announced plans to collaborate in the development of nanotechnology projects.

A memorandum of understanding for the establishment of the Asian Nanotechnology Fund was signed by RUSNANO CEO Anatoly Chubais, EDB Deputy Managing Director Tan Choon Sian and 360ip President and CEO Glenn Kline.

The fund will have a target capitalization of USD 100 million of which RUSNANO and 360ip will each raise USD 50 million. EDB will additionally support Singapore-based business of the fund’s portfolio companies with grants aggregating to USD 20 million. No less than 50 percent of the fund will be invested in the Fund’s Russia-based projects.

The fund will concentrate on innovative investment opportunities that can leverage the strengths of Russia and Singapore. The fund will help its portfolio companies grow and be more competitive in the areas of nanotechnology research, commercialization and production.

“By establishing the Asian Nanotechnology Fund, we are creating a bilateral mechanism for more rapid commercialization of advanced products and solutions developed across Russia, Singapore and Asia. Our strategic partnership with 360ip and the Singapore Economic Development Board will also grow the research and development of nanotechnology in Russia and promote Russian technology in the international market,” said RUSNANO Managing Director Georgy Kolpachev.

“Nanotechnology is a major growth sector worldwide and a key driver for creating significant market impact. In close cooperation with RUSNANO and the EDB, 360ip looks forward to taking an active role in developing high growth nanotechnology companies that can generate strong returns for the fund’s investors,” said 360ip President and CEO Glenn Kline.

“Singapore recognizes that close international partnerships are not just desirable but crucial, especially for an area like nanotechnology. This strategic partnership will provide opportunities for expansion stage companies with good technologies to use Singapore and Russia to capitalize on the fast growing emerging markets.” said EDB Deputy Managing Director Tan Choon Sian.