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RVCA–AFIC – alliance of associates

October 17, in Paris, at the session of Russian-French work group on cooperation in the innovation sphere, a meeting of Albina Nikkonen, CEO of RVCA, and Paul Perpère, Managing Director of French Private Equity Association (AFIC), took place.

The meeting was aimed at “building a bridge” to networking in private equity and venture capital sphere and at sharing necessary experience in the course of prospected interrelations. “Building such a cooperation is not only important but is necessary, too – first for Russia, being the country that only recently has begun to settle down to a course of innovation development and to create sufficiently favorable innovation environment”, – said Albina Nikkonen. For his part, Paul Perpere said that cooperation with Russia, which possesses rich infrastructure and ample opportunities in the sphere of innovation projects development, will be mutually beneficial in every respect.

The day before, representatives of both Associations exchanged opinions on future joint actions in the sphere of improvement of investment climate for entrepreneurs and innovators, and these resulted in intention to sign “Memorandum of Understanding”, planned to be executed in the end of October 2012. The main functionality of signing the document is the possibility to effectively cooperate at organizing conferences, forums, educational seminars and venture fairs. The events of this sort will promote creation of a ground for sharing knowledge and practical experience of all PE&VC market participants.

AFIC was established in 1984, and for today it counts 270 members which actively support the Association and render any adequate assistance to private capital in France. They include a number of venture capital funds – the giants of venture capital market, different consulting companies, etc. Representatives of the Association realize consulting in legal, regulation, taxes, monitoring, statistics, and research spheres. AFIC serves as private equity industry’s representative for institutional investors, contribute to financial climate improvement, that is key point for private equity market development and one of the main drivers for French economic growth.