The Overseas Private Investment Corporation (OPIC), the development finance arm of the U.S. government, has approved a US$40 million commitment to CapMan Russia II, a Russia-focused private equity fund managed by Finland-based CapMan Group. The capital is intended to support small and medium-sized enterprises (SMEs) in Russia’s outer provinces. CapMan Russia II is seeking EUR175 million (approximately US$227 million) in total capital commitments.