Alexander Turkot, who resigned this past fall from his position as director of Skolkovo‘s IT cluster , has announced the launch of a new venture fund, which he hopes will raise as much as $100 million.
The fund has already received a commitment from Renova for “up to $50 million,” Turkot told East-West Digital News. Renova is a diversified asset management and investment group owned by Skolkovo President Viktor Vekselberg.
Turkot’s fund intends to invest an average of $2 to $3 million in Series A and B rounds, focusing on e-health, big data, multimedia, and other Internet projects. According to Turkot, the fund will pay special attention to startups that have been endorsed by Skolkovo.
In addition, approximately 20% of the fund’s investment capital will be used to incubate seed stage startups directly, Turkot said.