Russian Venture Company (RVC), the state-owned fund of funds dedicated to innovation, is looking to invest in US startups through a newly-established office in Boston.

RVC-USA presents itself as a “visionary and strategic investor that melds the innovation of US startups with the resources of Russia.” Its possibilities include direct investment in local startups, in particular those who would like to host R&D in Russia. The Russian fund will focus on making early-stage investments, in the range of $1 million to $3 million, in IT, life sciences, semiconductors and clean tech. But Tillman ruled out any form of social media, where he “doesn’t see any immediate method of making revenue,” The Wall Street Journal quoted him as saying.

RVC-USA may also set up Boston area offices for Russian technology companies, and give investors in the Boston area access to deals in Russia.

“With this bridge, we will have all the abilities of U.S. marketing and Russian engineering talent,” said RVC-USA CEO Axel Tillmann in an exchange with the Boston Business Journal last week. ”We can create some very powerful products going forward.”

Last year, RVC opened a representative office in Silicon Valley together with Rusnano, a state-owned corporation, and Skolkovo, the state-sponsored innovation hub under construction near Moscow.