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Srei Infrastructure Finance Ltd, a Kanoria Foundation entity, has signed a memorandum of understanding with Vnesheconombank to create a $200 million ‘IT and Innovation Fund’.
Vnesheconombank is a Russian state development institution, which operates to enhance competitiveness of the Russian economy, diversify it and stimulate investment activity.
The IT and Innovation Fund will promote Indian-Russian cooperation in the area of IT technologies and innovation, Srei said in a press release.
SSrei and Vnesheconombank, through this fund, will explore investment opportunities in technology companies in Russia, India and selected regions.
“The fund will serve as a two-way bridge between the Indian and Russian markets and create opportunities for India-Russia cross-border technology cooperation,” Hemant Kanoria. CMD, Srei said as per the release.
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