TLDR:
- The Russian venture capital market shrunk in 2023, but the number of transactions increased.
- Tatarstan retained its position in the top regions for venture capital transactions.
In 2023, the venture capital market in Russia saw a decrease in volume of investments, but an increase in the number of transactions, especially in seed-stage companies. Tatarstan remained one of the top regions in terms of venture capital transactions, with the sale of KazanExpress to Magnit making headlines. The market in Russia is becoming less transparent, with a focus shifting towards clear, revenue-generating businesses. The article highlights the key players in the market, such as Vimpelcom, RT Investment, and various venture funds. The focus has shifted to investments in B2B startups with male founders, and the average cost of startups decreased significantly in 2023.
