06.11.2012
Partner(s) for Seed and Early Stage Venture Fund
The Republic of Armenia has received financing from the World Bank for the E-Society and Innovation for Competitiveness Project (the Project), and intends to apply part of the proceeds for the establishment of Seed and Early Stage Venture Fund (the Fund).
This activity will pilot Seed and Early Stage Venture Fund that would comprise public contribution of up to 3 million USD financed under the Project, and up to one half of the total fund equity.
This pilot Fund would provide a demonstration effect of commercial viability of early stage funds for technology and high-growth potential knowledge-based start-ups helping to attract venture capital funds.
The Fund will be established as an independent legal entity with a purpose of making equity investments in early stage technology and knowledge-based companies, and would be privately managed according to the Armenian legislation.
The Fund is expected to produce commercial returns in 8-10 years after creation, in line with international experience. The Project could provide an up to 50% contribution towards management fee of the Fund, while the exact management structure and incentive scheme is to be further defined in the Fund Operational Manual, which is to be developed jointly with the selected partner(s).
The Republic of Armenia now invites investors to express their interest in partnering with the Government for the establishment of the Fund. Interested investors should provide information demonstrating relevant experience, as well as proposed Fund management structure and CVs of potential Fund managers.
Further information can be obtained at the address below.
Expressions of interest must be delivered in a written form to the address below by November 26, 2012.
Mr. Edgar Avetyan
Executive Director
"Foreign Financing Projects Management Center"(FFPMC)
Ministry of Finance
Government House 1, Republic Square
Yerevan, Republic of Armenia
Telephone: (374-10) 595 344
Fax: (374-10) 545 708
E-mail: [email protected]
Web page: www.ffpmc.com
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UPDATE: E-Society and Innovation for Competitiveness Project 
