In the first half of 2024, the volume of investments in startups on the Russian venture market decreased by 18% year-on-year: from $33 million to $27 million, Kommersant writes, citing a report by the Moscow Innovation Agency.
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The number of transactions fell by 9% to 58. The lack of professional investors determines the specific features of the Russian market: pre-seed and seed transactions now predominate.
Business angels are becoming the main players in the market: their share in the volume of investments increased during the year from 42% to 60%. The state is reducing its share: during the reporting period it decreased from 4% to 2%.
The report notes that startups’ behavior has also changed. Companies began to focus less on product development and instead focused on optimizing projects: almost 70% of transactions pursue this goal.
Experts attribute this to a reluctance to take risks in an environment of limited growth opportunities for startups.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
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