As part of the Rusnano investments, chairman Anatoly Chubais became a board member.

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When Rusnano was formed in 2007 there were few large investors in the life sciences and biotech sectors.

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Rusnano also acts as a fund of funds, with joint funds with Draper Fisher Jurvetson, Pangea and Domain Associates.

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The Kremlin has poured more than five billion dollars into Rusnano, a state corporation meant to modernize Russia through nanotechnology.

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Although the investments are U.S. centric, Rusnano ultimately hopes to build bridges between the two countries, and create relationships in nanotechnology, in particular.

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About a year ago, Rusnano started earning dividends from some of its portfolio companies, at the same time making three exits from partner companies.

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Recently, he sent a project proposal to Rusnano: no response.

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While changing these federal regulations appeared to be an insurmountable task for this small start-up to accomplish on its own, Rusnano helped the company convince policymakers to change the regulations.

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For instance, when three years ago vacuum coating equipment maker, ESTO-Vacuum, realized that in order to survive in the market it needed to expand, it sought capital from Rusnano.

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Yes, we at Rusnano help create the market and shift administrative barriers, but we never sell on behalf of our companies, develop products for them or manage their business because startups are fragile creatures that must either evolve or dissolve.

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