RVC (Russian Venture Company) is the institutional investor, the first Fund of Funds in Russia. RVC was established in 2006 and was a pioneer Fund of Funds in Russia and as well as a pioneer with investment focus covering VC segment. RVC plays a significant role in fostering Russian VC market and innovation ecosystem development. Since 2015 RVC is also a Project Office of National Technology Initiative, a long-term technological development program designed up to 2035 to ensure the competitiveness of the Russian companies at the fundamentally new markets of the future. As of 2017, RVC has the portfolio of 22 funds and 212 fund companies (including direct co-investment). The total value of RVC-backed funds is $568M, where the share of RVC's investment obligations is $351M. $303M is the total volume of approved investments in innovation companies during the period of RVC’s operation. The investment focus is the PE&VC funds (primary, co-investments) with a key interest in high-tech funds and companies in different technology sectors. As for the regional activities, RVC has investments in the USA and Russia.