... funds to support technologies: for instance, PSB created a venture fund of 12 billion rubles, investment company Kama Flow established a fund of 10 billion rubles, and the Tinkoff ecosystem is developing the T-Invest fund to invest in rapidly growing Russian projects. In 2025, authorities officially authorized the return of foreign capital (from “friendly” countries) to deals with Russian tech companies, potentially opening doors for new financial inflows into the sector. Although the absolute ...

... globally — both independent and corporate — which are attracting significant institutional capital for investment in high-tech industries. Renowned Silicon Valley firms are also increasing their presence: for instance, venture giant Andreessen Horowitz ... ... approximately 2.4 billion rubles, preparing for an IPO — this case demonstrates the seriousness of technological business ambitions in Russian regions. In Kazakhstan, the state fund Qazaqstan Venture Group has been established with a volume of $1 billion to support ...

... Biotech, and Other Sectors on the Rise In 2025, venture investments are being distributed across an increasingly broad range of industries, moving beyond the dominant AI direction. After the downturn of the previous year, there is a noticeable revival in ... ... Venture Group was established with a volume of $1 billion to support AI startups. Additionally, in July 2025, the President of the Russian Federation signed a decree that effectively simplified the rules for foreign investors: they are once again allowed to ...

... indicators can lead to deal cancellations or changes in terms. Sectors with Noticeable Decline The M&A crisis has not affected all industries equally. The most significant reduction in activity is observed in traditional capital-intensive sectors. For instance,... ... market, facilitated by the participation of significant players. In 2024-2025, the most notable included: the acquisition of the Russian segment of "Yandex" from Yandex N.V. by a consortium of private investors ($5.2 billion), a controlling buyout ...

... conducted IPOs on foreign exchanges (in the U.S. and Europe), attracting foreign capital. The first IPO in the Russian market took place in 2002 when shares of a Russian company were first listed on the Moscow Exchange. From that moment until 2007, the Russian IPO market grew rapidly: dozens of new issuers emerged in various industries (energy, industry, technology, etc.). During this period, the mechanism of privatizing shares of state enterprises became one of the ways to expand the market, encouraging companies to go public. After the global financial crisis of 2008, IPO ...