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Thursday, April 27, 2017

Sberbank to take part in Silicon Valley VC Conference

Sberbank, the largest bank in Russia and Eastern Europe, will take park in the upcoming "Silicon Valley Meets Russia" conference dedicated to attracting venture capital financing to the country, the bank announced on Monday.

The event will be attended by leading Russian and overseas businessmen, representatives of major international corporations, venture capitalists, development institutions and investors.

The conference will feature a competition among businesses presenting their plans for new projects to the businesses and investors taking part in the conference.

In June 2012, as a result of that year's conference, Sberbank and the SVB Financial Group, the parent company of Silicon Valley Bank, signed a memorandum of understanding establishing a partnership for future venture financing in Russia.

In the framework of that agreement, Sberbank will provide specialized high-tech banking services to overseas companies and contribute to innovative development in Russia.