Plastic Logic, a US-based plastic semiconductor company, is reportedly planning to sell a minority stake to a $5bn Russia state-backed venture capital company investing in nanotechnology.
The Financial Times said Russian Corporation of Nanotechnologies (Rusnano) was in talks about taking a "significant stake" in Plastic Logic. Rusnano was unavailable to comment. Rusnano only takes minority stakes in third parties and in June set up Rusnano Capital, its venture capital operation in Switzerland, to bring in external limited partners to invest in Russian companies or bringing foreign businesses to the country.
Plastic Logic has raised more than $200m, including $50 two years ago, from corporate venturing units BASF Venture Capital, Intel Capital, Mitsubishi’s Nanotech Partners and Siemens Venture Capital and venture capital and other financial investors Oak Investment Partners, Amadeus Capital Partners, Merifin Capital, PolyTechnos Venture Partners, Quest for Growth, Tudor Investment and Bank of America.