The Russia-China Investment Fund Has Invested In Over 40 Bilateral Projects

The Russia-China Investment Fund has invested US$1.3 billion in over 40 projects over the course of its activity, Russian Deputy Prime Minister Alexander Novak has said. He was speaking at the 7th Russia-China Energy Business Forum in Beijing.

Novak stated, “Investment cooperation between Russia and China has been developing largely thanks to the active role of the Russia-China Investment Fund. Since its inception, the Fund has invested US$1.3 billion in over 40 projects, and taking partner funds into account, total investment has exceeded US$7.9 billion.”

The RCIF is an early-stage venture capital fund created in 2012 by the Russian Direct Investment Fund and the China Investment Corporation. The initial seed capital of US$2 billion was funded in equal part by the China Investment Corporation, the sovereign wealth fund of China, and the Russian Direct Investment Fund, the sovereign wealth fund of Russia. In October 2018, the RCIF became trilateral, with the Public Investment Fund, the sovereign wealth fund of Saudi Arabia, contributing US$500 million to the RCIF, raising the RCIF’s total capital to US$2.5 billion. The fund continues to seek contributions from new investors.

It makes investments in China with a close connection to Russia, including China–Russia border infrastructure projects and in Chinese firms trading with Russia in technology and services.