VTB and Skolkovo Ventures partner to transform the digital assets sector

By Megha Bhattacharya

Russia-based VTB Bank and Skolkovo Ventures recently signed a cooperation agreement at the IX International Forum of Innovative Development “Open Innovations”. The agreement is expected to strengthen the companies’ commitment to the creation and development of projects in the digital assets sector.

“As part of VTB Bank’s digital transformation strategy, we have a long-term partnership with Skolkovo in a number of areas. This agreement is another step forwards in expanding our cooperation. I hope that together with Skolkovo Ventures we will be able to create many new bright projects for the development of the digital economy in Russia,” commented Vadim Kulik, Deputy President and Chairman of the VTB Management Board.

According to VTB Bank, both of the companies are examining the possibility of participating in joint projects to solve problems of big data management in the public sector, with the priority of developing a project strategy in the area of products and services for the cybersecurity market. Skolkovo Ventures will be conducting an analysis of strategies and business capabilities for a number of advanced development projects in the interests of VTB.

“Skolkovo Ventures has extensive experience in investment and technology partnerships. As part of our accumulated expertise and access to the pipeline of projects that are located in the Skolkovo Foundation ecosystem, we will create new investment assets in the field of big data for the state and in the cybersecurity sector, providing access to the most advanced technological solutions on the market, including the Skolkovo Foundation’s portfolio. In our activity, we will focus on the long-term goals of the VTB group,” said Vladimir Sakovich, CEO of Skolkovo Ventures.