Rusnano, the Russian state-controlled nanotechnology corporation, steps us investing in digital technologies and earlier this fall set up a $53m fund to pursue the goal.

Half of this amount purportedly came from state coffers as part of a national program to develop Russia’s digital economy.

Starting from the end of this year, the fund is expected to invest in at least five projects at the later or growth stages. The investees, in their turn, are expected to generate $20m in revenues by 2024.

The fund will target, in particular, companies operating in the fields of industry digitalization, quantum technologies, wireless communications, blockchain, artificial intelligence, robot and sensor components, computer vision, and IoT.

Rusnano may seek to increase the size of the fund in the future.