... declining valuations. Additionally, in light of geopolitical challenges, investors are returning their attention to defense technologies — projects in the fields of drones, cybersecurity, and dual-use robotics are receiving support from both the government ... ... single dominant trend. Consolidation and M&A Deals: Industry Players Growing Larger High valuations of companies and intense competition for markets are pushing the startup ecosystem towards consolidation. Major mergers and acquisitions are once again ...

... Potential The firm favors startups targeting large and fast-growing markets. This reflects its desire to invest in companies that can scale and become leaders in their industries. Uniqueness of Product or Technology Startups must offer a product or technology that addresses real problems and possesses significant competitive advantages. Innovations that can disrupt existing approaches and create new value for customers are particularly attractive to Sequoia Capital. Financial Metrics and Growth Trajectory Even at early stages, it is important for a company to ...

... investment climate: Country Number of Unicorns (≈2025) Investment Conditions and Features United States (USA) 702 Global leader: largest venture capital, vast domestic market, top hubs (Silicon Valley, New York), developed startup infrastructure. High competition and high tax burden, but an unparalleled culture of innovation and access to capital. China 302 The world's second-largest economy: a massive digital market (1+ billion users), government support for technology, major corporate investors (BAT). Regulation is stricter, foreign startups face challenges, but local "unicorns" thrive due to scale and government incentives. India 119 A rapidly evolving market: a young population of ~1.4 billion,...

... expands diversification opportunities, relevant for both institutional and retail investors. Fundamental stable base: Most funded projects focus on core infrastructure (security, scalability, accessibility), which fosters long-term growth. Increased competitiveness: The success of some technologies leads to the emergence of numerous similar solutions, which may reduce margins for investors but accelerate industry development. Ultimately, major funds continue to increase their presence in the crypto ecosystem, proving that interest in ...

... will continue to flow from individual securities into funds. The influx of funds into index and exchange-traded funds is likely to persist, reinforcing the position of passive strategies. Active managers, in turn, will aim to improve efficiency through technology and offer more differentiated products to remain competitive. In Russia, the burgeoning popularity of investment funds will hinge on increasing financial literacy among the population and building trust in financial institutions. With government support (for example, tax incentives for investors) and ...