... startup markets occupy? Venture investments in Russia have contracted in recent years due to a challenging geopolitical and economic landscape. Estimates suggest that the total transaction volume in Russia for the entirety of 2024 was less than 10 billion rubles (approximately $120 million)—a drop in the ocean by global standards. Nevertheless, the local ecosystem continues to develop, relying on internal resources. In 2025, major corporations, banks, and state institutions have intensified support for ...

... market in the CIS is also reviving: local funds and corporations are beginning to invest more actively in their startups, and the state is launching targeted initiatives. For instance, in Russia, the creation of a specialized fund worth several billion rubles is being discussed with participation from the Center for Unmanned Systems to finance companies in the drone and AI sectors. All of this indicates that venture growth is gradually encompassing the world, including new growth points in emerging ...

... IPO and SPO markets declined. In the following years, moderate growth in the number of secondary offerings has been observed with the stabilization of the economy. Some stimulus also came from the increase in local and foreign investments after the ruble devaluation in 2014, as companies began seeking capital and the market adapted to new conditions. In recent years, the Russian SPO market still lags behind its international counterparts in terms of volume. This is explained by the lower share of ...

... capital investments in industries. As the month closes, the markets may experience unconventional movements—both due to window dressing and reactions to news flows. Investors are advised to stay vigilant: monitoring volatility in currency pairs (the ruble and tenge may indirectly respond to global trends), and oil and metal prices dynamics (under the influence of data from China and OPEC+ decisions, if any). By balancing macroeconomic and microeconomic factors, prudent investors will strive to avoid ...