The Russian VEB Ventures fund and the Korean Daedeok Ventures Partners management company will create a joint investment fund for investments in technology companies in Russia and South Korea.

      The fund will be interested in startups involved in smart city technology, medicine and high-end industry. “We hope that this mechanism will enable us to help promising Russian projects discover new markets and attract the most breakthrough solutions from abroad”, as Oleg Teplov, CEO of VEB Ventures, said. The fund volume can amount to $ 200 million. In the future, public and private investors, as well as financing organizations from Russia and South Korea, can also take part in the fund.