YEREVAN, December 18. /ARKA/. Armenia’s National Venture Fund is expected to manage as much as $100 million by 2027, High Technology Industry Minister Hakob Arshakyan said on Wednesday.
He said although the decision to create the fund was made a long time ago, however, its official registration has not been completed yet.
He said in 2020 the fund will not only be registered, but will also make the first investments in the amount of $5 million.
“We plan a gradual increase in its capital and expect that by 2027 it will amount to $100 million,” Arshakyan said.
Arshakyan said earlier that the National Venture Fund will be a public-private partnership (PPP). He said also the idea aroused great interest among high-tech companies in Silicon valley, including among ethnic Armenian specialists and Armenian-owned companies. The fund is to invest in Armenia-based technology-driven startups to ensure their subsequent entry into international markets. –0–
