The Skolkovo Foundation and Bessemer Venture Partners said Wednesday they have signed a memorandum of understanding. The Menlo Park-based venture capital firm is expected to target $20 million for Skolkovo resident companies over the next two years.
The foundation is a development agency aimed at bridging the gap between seed and Series A rounds for high-tech companies coming from Russia.
The MOU was signed by Alexander Lupachev, chief of Skolkovo Foundation’s Investment Service, and Ed Colloton, Bessemer Venture Partners’s chief operating officer, on Wednesday at the Menlo Park-based Global Technology Symposium.
Skolkovo now has more than 30 partnerships with Russian and international venture companies.
Source: Bussines Journal