... cautious and prefer startups with sustainable business models and a clear path to profitability. A substantial influx of capital into the AI and fintech sectors instills confidence in continued growth; however, funds are paying special attention to diversification and risk management. The main priority is the quality of this growth: market participants are focusing on the long-term sustainability of startups and healthy returns on investments to ensure that the new upswing does not result in overheating. Thus, the ...

... remained below last year’s figure. This implies that issuers with small and medium capitalization (up to 30-100 billion) may expect successful placements if they can engage “institutional investors” with a long-term growth narrative. However, risks and uncertainties suggest diversification: concentration in one segment may be dangerous if legislation tightens or demand sharply declines. That said, the growth prospects of the sector remain substantial—at least in terms of ongoing import substitution and the popularization ...

... models, healthy economics, and a clear path to profitability. The strong influx of funds into AI, fintech, and cybersecurity sectors instills confidence in further market growth, but at the same time, venture funds are paying increased attention to diversification and risk management. The main priority becomes the quality of growth: a focus on the long-term sustainability of companies and reasonable project valuations, so that the new upward trend does not lead to another overheating. Thus, the venture market is entering ...

... companies. 5.2 Commodities and Exports High global prices for oil, metals, and fertilizers maintained cash flow for exporters. The easing of some sanctions on certain positions simplified logistics, increasing margins. 5.3 Flexibility of Business Models Diversification of assets, utilization of jurisdictions favoring the CIS and Middle Eastern countries, as well as the active implementation of digital services allowed entrepreneurs to mitigate regulatory risks. 6. The Role of Sanctions and Internal Reforms Despite ongoing sanctions pressure, business empires managed to adapt by: Reengineering supply chains through Kazakhstan, the UAE, and Turkey. Actively using the yuan and rupee in foreign transactions....

... business models, solid economics, and a clear path to profitability. The substantial influx of funds into the AI, fintech, and cybersecurity sectors instills confidence in further market growth, but venture funds simultaneously pay increased attention to diversification and risk management. The main priority becomes the quality of growth: an emphasis on long-term sustainability of companies and reasonable valuation of projects, ensuring that the new upswing does not lead to another overheating. Thus, the venture market enters ...