$0.1bn raised by Russia production oriented Tatarstan Cleantech Fund TCTF

wermutham.com

A fund that will rely heavily on Russian money to invest in clean technology has raised the planned 110 million euros ($145.3 million) in capital from its two founders as it prepares to announce its first deal later this year, German co-founder Wermuth Asset Management announced Monday.

Tatarstan Gov money for local cleantech production

With 100 million euros from a Tatarstan government company, the fund will invest globally, but focus on companies that could benefit by selling their products — or initiating production — in Tatarstan.

"The biggest bang for the buck in clean energy is in Russia," said Jochen Wermuth, the chief investment officer at the asset management company.

Clean technology

highlighting industrial energy efficiency, energy storage, biofuel or electric cars and water management as generating the most demand worldwide. In Russia, it is also waste management

10 years Fund

The Fund is conceived for 10 years: a six-year investment period and a four-year wind-down period. The agreement to establish the fund was signed in the presence of Chancellor Angela Merkel and President Dmitry Medvedev at German-Russian government consultations in Hanover in July.

source The Moscow Times : themoscowtimes.com