The government decided to set up the fund last week to boost private investment in information and communications technologies, and support medium and small IT businesses.
"According to preliminary talks [with potential investors], the government stake in the fund could fall to 25% by the end of the next year, due to incoming investment," Leonid Reiman told a news conference.
The minister said that under the government's resolution on the establishment of the fund, the stake would only be reduced to 25% in 2009. Several investors, including private companies, have shown a strong interest in the fund, which is likely to attract substantial investment both from IT market players and financial institutions, he said.
The government will allocate 1.45 billion rubles ($54 million) to the fund's charter capital and will own 100% of shares at the moment of its creation. It will then issue additional shares worth 100% of the charter capital plus one share, thereby decreasing its stake to 50% plus one share.
The state will reduce its participation in the project to a minimum blocking stake (25% plus one share) in 2009, and sell the remaining shares in 2010.
The Ministry of Economic Development and Trade is in charge of setting up the fund, and the Ministry of Information Technology and Communications will act as a shareholder on behalf of the Russian government.
