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Kremlin wins first deal for Russian Silicon Valley (US invests $250.000.000 )
http://www.reuters.com/article/idUSLDE64R1N620100528?type=marketsNews ^

Posted on 05/29/2010 2:40:46 AM PDT by kronos77

* Russian technology hub wins $250 mln investment

Stocks | Global Markets

* "Silicon Valley" project part of plan to diversify economy

MOSCOW, May 28 (Reuters) - Russia's "Silicon Valley" has won its first $250 million investment from a U.S. private equity group this week as the Kremlin pushes ahead with a key project to diversify the economy away from oil and gas.

Top U.S. venture funds, their combined $25 billion capital sought by Russia as it attempts to build high tech industries from scratch, met Russia's President Dmitry Medvedev and leading firms to examine the country's nano-industries and meet Russian minds to invest in.

Plans for a Russian high-tech preserve in Skolkovo, a Moscow suburb, are the Kremlin's pet project as it wants to steer foreign investor interest away from oil and gas, where strategic interests make for high entry barriers, toward new technology.

For a story on Skolkovo, see [ID:nLDE63S1ZB].

"We are heating the coal of the government and the president," said Drew Guff, managing director at Siguler Guff with $8.5 billion under management.

"We are investing in the technological development of business in Skolkovo," he said. The investment will go into digital infrastructure and IT services to allow other innovative businesses to grow faster in Russia.

Guff said it was the largest investment by Siguler Guff, which has been investing in Russia for over a decade now.

(Excerpt) Read more at reuters.com ...


TOPICS: Foreign Affairs; Front Page News; News/Current Events; Russia
KEYWORDS: news; russia; technology

1 posted on 05/29/2010 2:40:47 AM PDT by kronos77
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To: kronos77
Reuters
2 posted on 05/29/2010 2:52:59 AM PDT by A.A. Cunningham (Barry Soetoro is a Kenyan communist)
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To: kronos77

Maybe we can then increase the supply of Russian hackers and virus production.


3 posted on 05/29/2010 2:56:11 AM PDT by David Isaac
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To: kronos77

LOL - Some people never learn. The minute any such venture shows a profit the KGB government will simply steal it and throw their foreign “partners” out of the country.


4 posted on 05/29/2010 2:56:39 AM PDT by SeeSharp
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To: kronos77

Of course, the American economy would have been helped more with $250 million invested in the US economy.....

We have already subsidized the Commie Chinese....we do not need to bankroll another potential enemy


5 posted on 05/29/2010 3:20:46 AM PDT by UCFRoadWarrior (JD Hayworth for Senate ..... jdforsenate.com)
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To: kronos77
Look at the price of this book:

Engineering Communism: How Two Americans Spied for Stalin and Founded the Soviet Silicon Valley

Democrats buried that one and now its becoming a collectable. Ann Coulter, in Treason, wrote of Barr on Nightline with Ted Koppel. He was whining about not getting a Social Security check for the time he spent working at (and stealing from) an Army lab.

6 posted on 05/29/2010 3:25:58 AM PDT by Brugmansian
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To: kronos77

Why invest in America when the DNC and the undocumented Bozo
are running all small businesses to their death?


7 posted on 05/29/2010 3:28:27 AM PDT by Diogenesis (Article IV - Section 4 - The United States Â… shall protect each of them against Invasion)
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To: kronos77

Just like when Stalin bought the Ansonia Clock Factory in New York. It’s Deja Vu all over again - Yogi


8 posted on 05/29/2010 4:09:40 AM PDT by Steamburg (The contents of your wallet is the only language Politicians understand.)
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