MANHASSET, N.Y. -- The World Bank's investment arm is backing mid-sized companies in Russia with a $20 million investment in the Elbrus Capital Fund.
The International Finance Corp. (IFC) said it will focus investments through the Elbrus fund on small and medium-sized companies on the assumption they are best positioned to create jobs and deliver new services to Russia markets.
The Elbrus fund is targeting $500 million in total funding and will aim to gain controlling stakes in mid-cap growth Russian companies.
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IFC's financing and advisory services are intended to help companies improve corporate governance and become more competitive. Its investment portfolio in Russia totals $837 million.
IFC, the investment arm of the World Bank Group, provides financing to companies in developing countries. Its investments are expected to total more than $20 billion this year.
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.