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Heads of the leading U.S. venture capital funds have written an open letter to President Dmitry Medvedev

18/06/2010
Representatives of the American venture capital community, who visited Russia this May, wrote an open letter to the President of Russia Dmitry Medvedev.
An open letter to Russian President Dmitry MedvedevDECLARATION OF SUPPORT FOR BUSINESS IN RUSSIA


We, the undersigned representatives of the venture investment community, members of first large delegation of venture capitalists, held on 25-28 May 2010, express our support for your intentions regarding the development of entrepreneurship and private business in Russia.

Let us express our gratitude for being paid by us, for the clarity and directness in identifying the problems faced by entrepreneurs and investors in Russia today, as well as the significant steps taken by you to remove the obstacles that can slow down the creation and development new technology companies. We appreciate your initiative to create a new policy aimed at creating an enabling environment for creativity and innovation of entrepreneurs. We are confident that under your leadership and with strong public support Russia will be able to create an environment conducive to long-term venture capital investments, and become one of the key players in the global technology market.

In this regard, we are ready to explore opportunities for investment in Russian companies and to fully support you in this difficult but exciting business. We left Russia with a favorable impression on the future of your country and its technological potential, and we hope to take part in the further development of successful entrepreneurial community.

We sincerely wish you, Russian businessmen and the Russian people success in this important matter.

With deepest respect,
Adam Valkin (Accel Partners), Craig Taylor (Alloy Ventures), Peter N. Loukianoff (Almaz Capital Partners,) Skip Fleshman (Asset Management Co.), Bruce Booth (Altas Venture), Vivek Mehra (August Capital), Jeremy Levine  (Bessemer Venture Partners), Maha Ibrahim (Canaan Partners), Brian Dovey (Domain Associates), Don Wood (Draper Fisher Jurvetson), Esther Dyson (EDventure Holdings), Brian Jacobs (Emergence Capital), Ben Holmes (Index Ventures), David Kronfeld (JK & B Capital), Jim Smith (Mohr Davidow Ventures), Drew Guff (Siguler Guff & Co.,) Eric Buatois  (Sofinnova Ventures), John D. China (SVB Capital), Mark Iwanowski (Trident Capital), Rainer Strohmenger (Wellington Partners), Mario Rosati (WS Investment Company).


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