The movement of business angels in Russia is gaining momentum, although the number of their foreign counterparts in the Russian Federation is gradually falling due to the legal vulnerability of such investors, the lack of state assistance and tax preferences said the experts polled by RIA Novosti.
In 2017 there were three times as many venture capital funds (11) compared to the previous year (4). At the end of the year the indicator on the fund's transactions was recorded as similar as in 2016 — 391.
As of the end of 2017 new venture funds have intensified their activities in Russia: their number has increased almost threefold, from 4 to 11. On the other hand, foreign funds investing in Russian start-ups have significantly reduced in number. This is what Firrma magazine states in their rating, compiled with the support of RVC and Ernst & Young.
The Venture Fund InVenture Partners sold its stake in the Busfor start-up to Elbrus Capital and Baring Vostok funds, said Anton Inshutin, Managing Partner of InVenture Partners, Ilya Yekushevsky, Busfor co-founder and representative of Baring Vostok. The partners do not disclose the sums and details of transactions.
Russian Venture Company (RVC) may create three venture capital fund of funds, together with the Chinese Shenzhen Capital Group, Tsinghua University Science Park (TusPark) and the private Sino-British venture fund
"Technically, all innovation mechanisms have been activated. There is the system of venture capital funds — we supervise two in the Urals, for example. However, there is little interconnection. Gulnara Bikkulova, RVC.