The consulting session took place on November 21, 2013 under the aegis of the Club of Directors for Research and Innovation (iR&Dclub). The event has completed the cycle of training sessions for pilot teams within the project “Practice of creation of corporate venture funds in Russian companies” executed by the Club together with Russian Venture Company, OJSC, with the support of the Ministry of Economic Development of the Russian Federation to increase the competence of large companies’ managers in corporate venture investment.
Maxim Bunyakin, Branan Legal’s Managing Partner, told about the unique experience in building the efficient control system for intended expenditure of investment money. Particularly, except for the classical control mechanisms (management and supervision bodies, reporting system, special provisions of shareholders’ agreements, etc.), it is reasonable to use the mechanism of a bank account agreement with a special regime of monetary resources expenditure (the so-called agreement of special settlement and cash services, which is an analogue of escrow-account). It was especially interesting for the session members, because most of them were the representatives of government-sponsored companies where the rules of monitoring special-purpose investments play an important role.
The press release of the Club of Directors for Research and Innovation (iR&Dclub) concerned with this event is available here.
The major event of the project “Practice of creation of corporate venture funds in Russian companies” will be the First Moscow Corporate Venture Summit which is to take place on December 5, 2013 in Infoprostranstvo Event-hall. The leading foreign experts in corporate venture funds, heads of Russian corporations, venture investors, experts, institutes of development, and representatives of government will attend there. Maxim Bunyakin, Branan Legal Managing Partner, will take part in the summit as an expert.