The RVC Seed Fund run by Russia’s key fund of funds for innovation, RVC, and its Chinese partners have agreed to team up in bringing Chinese investors into a new mutual fund that would support tech start-ups operating in biomedicine, energy saving, IT and electronics in the two countries. An agreement was inked yesterday for 2016-2019 between the Seed Fund and the International Technology Union of the southeast Chinese province of Guangdong, Russian portal Science and Technologies of RF .

Under terms of the agreement, the RVC Seed Fund undertakes to provide expert assessment and offer whatever help would be needed in project screening, and also act as the key supplier of potentially promising projects and technologies for the prospective new fund.

The Agreement reportedly calls for “the cultivation of favorable conditions for investment raising by both sides, and the support and promotion of joint investment projects, including those involving third-party partners.”

Set up in 2009, the RVC Seed Fund is focused on investing in young Russian companies with high growth potential in both domestic and international innovative technology markets.