from private institutions, ING, CalPERS, and ABN AMRO, he established Favonius Ventures with offices in London and Amsterdam. In July 2006, Favonius Ventures received all of the technology investments of ABN AMRO Capital which is the private equity business unit of ABN AMRO Bank N.V. Eclipse Aviation In 2003, Pieper started a new venture involving Very Light Jets (VLJ), in cooperation with Albuquerque, New Mexico-based Eclipse Aviation Corporation. After Semyon Bolotin (; born 1985 or 1985) and a son of Roel Pieper, who had gone to school together and played on the same basketball team, introduced their fathers to each other, Roel Pieper and the Russian businessman Daniel Bolotin established in Luxembourg a joint venture investment business, which was headquartered in The Netherlands, called European Technology and Investment Research Center, or ETIRC BV. ETIRC, which had offices in Russia, Ukraine, Kazakhstan, Cyprus, Turkey and Israel, used The Netherlands as a gateway for investments between the West and eastern Europe, Turkey, Russia and countries of the CIS. Bolotin and Pieper had a 42.7% stake in ETIRC Aviation and a 14.6% stake was held by the Cyprus-firm Martilio Holdings Ltd. which was controlled by Svyaz-Bank. In 2007, ETIRC launched a joint venture with the luxury goods provider Atasay whose founder Atasay Kamer's son Cihan Kamer is very close to Recep Tayyip Erdogan and is known as Erdogan's "Golden Man" (). The main project of ETIRC was ETIRC Aviation, which sought to establish an Air Taxi network for Europe, Turkey and Russia and a second manufacturing location for the Eclipse 500 jet at Ulyanovsk Oblast in Russia for the European market. In July 2008, the Luxembourg-based ETIRC Aviation, which by then had become Eclipse Aviation's largest shareholder, ousted Eclipse Aviation founder Vern Raburn from his position as CEO. Pieper then took over the job of acting CEO for Eclipse Corporation at the request of the shareholders and bondholders. Before the collapse of Svyaz-Bank and its subsequent takeover by VEB, both Bolotin and Pieper received a $150 million loan from Svyaz-Bank in December 2007 for their purchase of Eclipse Aviation to rebrand the company as Eclipse Aerospace. In the autumn of 2008, after Pieper had decided to raise the price of the Eclipse 500 aircraft substantially, several Eclipse customers sued Eclipse for the return of their deposits, claiming they had waited years for the delivery of their Eclipse 500 jets. After the collapse of