In Russia, the share of venture funds investing solely in foreign startups has fallen by a third

According to the study, of the 60 venture capital funds active in 2023, 36 will finance only local companies. In 2022 there were only 7 out of 61.

At the same time, the number of funds that made investments in both domestic and foreign companies decreased. In 2022 there were 15, at the end of three quarters of this year only 3 of 60 active funds remained.

However, venture funds continue to operate, investing exclusively in foreign projects. According to the results of three quarters, out of 60 organizations of this type, 21 were active. This is 29% less than a year earlier.

According to Elena Volotovskaya, director of Softline Venture Partners, many funds have focused on financing Russian startups. At the same time, the company’s forecasts for the recovery of investment activity are also based on the fact that some funds need more time to update their strategy.

During the study, the company compared the activities of very active sectors in the last year and those active in the current year. The activity was evaluated by the presence and volume of investments from January to October 2023.

According to the analytical platform Dsight, the Russian venture capital market plummeted tenfold in the first half of the year. The decrease in year-on-year investment volume was 21%. State investors became leaders in the number of transactions.

In early November, the Russian Venture Company announced the launch of an academy to train venture market players. His first project will be a course for venture capital fund managers focused on investing in Russian technology companies.