Draper Fisher Jurvetson has added another link in its global necklace of affiliated venture capital firms with the creation of DFJ-VTB Aurora, a partnership with a state-owned Russian bank.

The bank, Vneshtorgbank, sold an $8 billion stake in a May initial public offering in the London Stock Exchange, but 77.5 percent of the company remains in the hands of the Russian government.

DFJ, backers of startups like Skype, Hotmail, and Baidu, has cobbled together a global venture capital network with $5.7 billion under management in 22 affiliate firms in 33 cities across the United States, Asia, Europe, and South America.

“It’s the UN of VC,” said Don Wood, the DFJ managing director who oversees the company's international network,

The latest affiliate begins with a federal fund where half the capital is coming from the government-backed Russian Venture Capital Corporation and about 20 percent is coming from the European Bank of Reconstruction and Development based in London. VTB is also an investor.

Mr. Wood said Russia is seeking to jumpstart its venture capital industry with seed money from the government, a model once used by Israel.

DFJ-VTB Aurora will manage ruble-based funds worth about $150 million and invest in Russia and the 10 other countries of the former Soviet Union in the Commonwealth of Independent States.

Terms of the partnership, however, limit the federal fund and three smaller regional funds to backing companies with headquarters in Russia.

“We looked at that and concluded it’s OK,” Mr. Wood said, noting that investors could exit by bringing the companies public on the London Stock Exchange.

Kremlin watchers have kept a close eye on VTB, which bought a $2 billion stake in European Aeronautic Defence & Space, the parent of Airbus, in 2006, only to seek to unload the investment in 2007.

VTB President Andrei Kostin had been rumored as a potential successor to Economic Development and Trade Minister German Gref in the recent Cabinet shakeup until President Vladimir Putin appointed economist Elvira Nabiullina Monday.

VTB, which does investment, commercial and consumer banking, is the second-biggest bank in Russia, after Sberbank.

The funds will be managed by partners Andrey Zyuzin, Andrey Morozov, and Sergey Romashov in Moscow and Alexandra Johnson from DFJ’s offices in Silicon Valley.

DFJ is continuing to plot the expansion of its global network and is considering outposts in South Korea, Israel and Central Europe.

“We’re looking at many other places,” Mr. Wood said. “We don’t feel the need to rush, but ultimately, the concept can keep extending.”