The European Bank for Reconstruction and Development (EBRD) is a multilateral development finance institution established in 1990. Headquartered in London, it operates primarily in Central and Eastern Europe, the Caucasus, Central Asia, and the Southern and Eastern Mediterranean. The EBRD provides a range of financial products and services, including loans, equity investments, and guarantees, to support private sector development and promote sustainable growth. It serves various sectors such as agribusiness, energy, finance, and infrastructure, and also offers policy dialogue and advisory services. The EBRD has invested over €130 billion in more than 5,200 projects since its inception, playing a significant role in fostering change and economic development in its regions of operation.

One of the priorities of Internet Initiatives Development Fund (IIDF) is financial and expert support to startups in their early development stages. IIDF has invested in 402 tech startups. The Fund invests between 2.5M and 324M rubles in tech companies at early stages, i.e. pre-seed, seed and series A. The Fund also plans to launch a variety of educational programs and to perform a number of legislative initiatives. These steps will help to increase transparency and ensure effective cooperation between entrepreneurs, investors, and state agencies in the field of venture capital investments in Russian online-projects. IIDF's mission is to make Russia more attractive for tech enterpreneurs. They want to make the Russian venture market understandable and accessible to anyone who wants to begin or grow their Internet businesses.

Internet Initiatives Development Fund (IIDF), established in 2013, is a Moscow-based venture capital firm. It invests in early-stage companies across various tech sectors, including telecommunications, software, big data, machine learning, internet of things, and fintech, among others. IIDF operates globally, with investments in the United States, Asia, and Europe. The firm typically allocates between RUB 2.1 million to RUB 324 million per investment.

Founded in 2008, Russian Ventures was a venture capital firm based in Moscow, Russia. The firm sought to invest in companies operating in the internet and technology sectors across Russia.

The Russian Direct Investment Fund (RDIF), established in 2011 and headquartered in Moscow, is a sovereign wealth fund designed to facilitate direct investment in Russia. With a reserved capital of $10 billion, RDIF collaborates with leading global investors to make strategic investments in both established and emerging Russian companies. The fund aims to attract foreign capital to the Russian economy, having successfully garnered over $40 billion through long-term partnerships. RDIF primarily focuses on sectors such as information technology, communications, networking, and technology, media, and telecommunications (TMT). Through its investment strategy, RDIF acts as a catalyst for economic growth and development within Russia.

International Finance Corporation (IFC), established in 1956, is a member of the World Bank Group dedicated to fostering private sector development in emerging markets. Headquartered in Washington, D.C., with global offices, IFC provides financial and advisory services to support economic activities across various sectors such as infrastructure, agriculture, manufacturing, and financial services. It invests in both direct equity and debt, as well as fund investments, with a focus on projects that promote sustainable development and inclusive growth. IFC's investment range typically spans from $1 million to $100 million, with a minority equity stake, often up to 20%. It also offers debt financing, with loan sizes up to 25% of total project costs or 50% for expansion projects. IFC's portfolio includes a mix of asset-backed securities, corporate debt securities, government obligations, equity investments, and derivative assets. It aims to exit investments through domestic stock markets, arrangements with project sponsors, or public listings within 7 to 15 years.

Baring Vostok Capital Partners, established in 1994, is a private equity firm headquartered in Moscow, Russia, with additional offices in Limassol, Cyprus, and Guernsey. The company invests in various stages of growth and across diverse sectors, including technology, media, natural resources, and consumer goods, primarily in Russia and the CIS region.

Ruvento Ventures, established in 2012, is a Singapore-based venture capital firm that invests globally in early-stage technology companies. Focusing on markets like Russia, Ukraine, and the Commonwealth Independent States, it identifies innovative startups in sectors such as AI, IoT, and biotechnology, aiming to bring their products and expertise to Asian markets. Ruvento provides initial funding of up to $0.5 million, with the potential to syndicate up to $3 million for promising deals. In Singapore, it runs an incubation program offering up to $0.2 million in two stages: proof-of-concept and commercialization. The firm is committed to backing exceptional teams that leverage technology to drive positive change in Southeast Asia.

Mail.ru Group, founded by Yuri Milner, is the largest Internet company in the Russian-speaking world and one of the largest in Russia. It operates popular social networking sites, instant messaging networks, email services, online games, and internet portals in Russia. The company also holds strategic equity stakes in various companies, including vKontakte and QIWI. Additionally, Mail.ru Group has minority stakes in global companies like Facebook, Zynga, and Groupon. With a diverse portfolio of internet services and investments, Mail.ru Group plays a significant role in the digital landscape of Russia and beyond.

Sberbank of Russia, founded in 1841 and headquartered in Moscow, is the largest credit institution in Russia and the Commonwealth of Independent States (CIS). It offers a wide range of banking products and services to individuals, small businesses, corporate clients, and financial institutions. Its offerings include consumer and education loans, mortgages, deposit accounts, and various types of cards, as well as personal banking services, cash transfers, and foreign exchange. Sberbank also provides investment services, mutual funds, asset management, and insurance products for real estate and vehicles. With a significant market presence, it holds a substantial share of retail deposits and corporate loans in Russia. The bank operates an extensive network of branches and regional banks across the country and has a presence in 18 countries internationally. The Central Bank of the Russian Federation is the principal shareholder, owning over half of the bank's shares. Sberbank has evolved into a universal commercial bank, emphasizing corporate banking, retail banking, and investment banking in its operations.

Starta Ventures, established in 2011, is a New York-based venture capital firm with an additional office in Moscow, Russia. It specializes in investing in early-stage startups, from pre-seed to Series A, with a focus on B2B, Education and HR, Gaming and E-sports, LegalTech, FoodTech, and FinTech sectors. The firm typically invests up to $200,000 per project, taking minority stakes up to 10%. Starta Ventures also operates Starta Accelerator, a program designed to help Eastern European startups adapt to the U.S. market, gain traction, and integrate into the local startup ecosystem. The accelerator provides a 14-week program, mentorship, and up to $130,000 in funding in exchange for 7% equity. Additionally, Starta Ventures runs School of C, an executive education platform, and Liqvest, a co-investing platform.

Moscow Seed Fund is a venture capital investment firm established in 2005 and based in Moscow, Russia. Created by the Department of Entrepreneurship and Innovation Policy of Moscow, the firm focuses on promoting venture investment in small enterprises within the scientific and technical sectors. Moscow Seed Fund specializes in providing seed and pre-seed investments, specifically targeting companies located in the City of Moscow. Its mission is to support early-stage businesses that demonstrate potential for growth and innovation in their respective fields.

Softline Venture Partners is the corporate venture capital arm of Softline Group, established in 2008 and based in Moscow, Russia. The firm focuses on investing in early to growth-stage companies primarily in Russia and the Commonwealth of Independent States. It has allocated approximately $35 million across more than 20 portfolio companies, with individual investments ranging from $300,000 to $3 million. Softline Venture Partners is stage agnostic and actively seeks opportunities in diverse technology sectors, including cloud computing, cybersecurity, big data, artificial intelligence, the Internet of Things, EdTech, and HRTech.

VEB Ventures is a venture capital firm based in Moscow, Russia, founded in 2017. It focuses on investing in companies within the medical technology, biotechnology, and clean technology sectors. The firm aims to support the Russian government’s innovation initiatives and promote the development of innovation infrastructure in the country. By facilitating the transfer of advanced technologies to Russia, VEB Ventures seeks to enhance the global competitiveness of Russian innovations.

Elbrus Capital, established in 2007, is a private equity firm headquartered in the Cayman Islands, with a focus on the Russian and CIS markets. The firm manages funds totaling over US$1 billion in assets, investing in leading companies across various sectors such as technology, media, consumer goods, healthcare, and logistics. Elbrus Capital specializes in control and significant minority equity stakes, partnering with ambitious entrepreneurs to drive business growth and consolidation. Since inception, the firm has completed over 90 acquisitions, with notable investments including HeadHunter, Mail.ru Group, and Great Beer Holding.

Mobile TeleSystems OJSC is a leading telecommunications group based in Russia, operating extensively in the CIS region. The company provides a comprehensive range of services, including mobile and fixed voice, broadband, and pay television, alongside various content and entertainment offerings. As of mid-2014, Mobile TeleSystems served over 100 million mobile subscribers across Russia, Ukraine, Armenia, Turkmenistan, and Belarus, a region with a population exceeding 200 million. Additionally, the company has established a significant fixed-line presence, with millions of households passed and a substantial number of residential subscribers, particularly in Moscow. Its primary revenue is derived from its telecommunications segment, while also engaging in fintech and other related services.

Citi, a global financial services holding company, operates through two primary segments: Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment caters to retail customers, offering traditional banking services, Citi-branded cards, and retail services. The ICG segment serves corporate, institutional, and high-net-worth clients, providing a wide range of banking, financial, and investment services. Citi also manages approximately $4.3 billion in equity investments and committed capital through its global emerging markets private equity arm, CVCI. Additionally, Citi Ventures, the company's venture capital arm, invests in innovative ideas across sectors like fintech, data analytics, and digital assets, fostering growth and collaboration with Citi colleagues, clients, and the broader innovation ecosystem.

Tealtech Capital, established in 2016, is a venture capital investment firm based in Moscow, Russia. The company focuses on supporting early-stage Russian startups, particularly those in the consumer market, by employing innovative and modern management practices. Tealtech Capital is distinguished as the first investment fund in Russia adhering to the "teal" principle, which emphasizes customer orientation and transparency in dealings with clients and investors. By acting as a strategic partner, Tealtech Capital aims to empower projects to achieve independence and sustainable growth.

InVenture Partners is a venture capital firm established in 2012 and headquartered in Moscow, Russia. The firm focuses on seed, early, mid, and late-stage investments primarily in sectors such as online financial services, technology, marketing, digital media, mobile, and telecommunications. Its investment strategy targets companies located in Russia, the United States, the CIS region, the United Kingdom, and various European markets. InVenture Partners typically invests between $0.5 million and $5 million in businesses with an enterprise value ranging from $1 million to $50 million. The firm seeks to partner with companies that have the potential for an Initial Public Offering within two to three years and generally prefers to take a minority stake and secure a board seat in its portfolio companies. Notable investments include the on-demand service Gett, telehealth provider American Well, and the long-distance bus ticket platform Busfor. InVenture Partners aims for exits within five years, with the possibility of extending this timeline by an additional two years.

RUSNANO is a principal investment firm based in Moscow, Russia, focused on the commercialization of high-tech projects and nanotechnology investments. Established in 2007, RUSNANO aims to develop the Russian nanotechnology industry through direct investments in private equity and venture capital, as well as fund investments. The firm prioritizes projects in sectors such as scientific research, new materials, biotechnology, energy, and robotics, with a particular interest in initiatives that will establish or modernize manufacturing facilities within Russia. RUSNANO seeks to invest in projects projected to generate significant revenue within five years and often co-invests alongside other partners. It operates through various modes of investment, including equity stakes, loans, and credit guarantees. Additionally, RUSNANO has a subsidiary, RUSNANO USA, Inc., which focuses on middle and late-stage companies in North America that support global technology development in fields such as semiconductors and advanced materials.

Winter Capital Partners is a private equity and venture capital firm established in 2015 and based in Moscow City, Russia. The firm specializes in mid to late venture and growth capital investments, primarily in consumer technology, financial services, education, healthcare, and digital health sectors. It engages in global investments, typically allocating between $0.5 million and $5 million for venture capital and $10 million to $100 million for private equity. Winter Capital Partners generally takes minority stakes in venture capital investments and can hold both minority and controlling stakes in private equity deals. Additionally, the firm offers advisory services to its portfolio companies, leveraging its market expertise to support growth.

Skolkovo Foundation is an independent non-profit organization based in Moscow, Russia, established in 2010 to promote innovation and entrepreneurship. It focuses on five key sectors: energy efficiency, information technology, biomedicine, nuclear technologies, and space technologies. The foundation supports startups and venture capital initiatives, aiming to foster advancements in these areas. Its IT cluster emphasizes the development of strategic information technology solutions, while the biomedicine cluster promotes innovations in medical technologies. The energy efficiency cluster works on reducing energy consumption in various sectors, and the nuclear technology cluster is involved in creating new products for the energy market and developing complex technological systems. Additionally, the space technologies cluster focuses on projects related to satellite navigation and space tourism. To facilitate its mission, Skolkovo Foundation manages the Skolkovo Innovation Center, Technopark, and Skolkovo Institute of Technology (Skoltech), and collaborates with numerous leading global companies in research and development partnerships.

The U.S. International Development Finance Corporation (DFC) serves as America's development bank, focusing on financing solutions to pressing challenges in the developing world. DFC collaborates with the private sector to invest in projects that foster job creation in emerging markets across various sectors, including energy, healthcare, critical infrastructure, telecommunications, and support for small businesses and women entrepreneurs. The corporation is committed to adhering to high standards that prioritize environmental sustainability, human rights, and worker rights in all its investments.

I2BF Global Ventures Ltd. is a venture capital firm established in 2005 and headquartered in Beverly Hills, California, with additional offices in New York, London, Moscow, Astana, and Menlo Park. The firm specializes in investing across various stages of growth in technology-oriented sectors, particularly focusing on clean technology, nanotechnology, digital healthcare, and innovative solutions in areas such as energy, agriculture, aerospace, and telecommunications. I2BF Global Ventures has a global investment mandate, targeting opportunities in regions including Asia Pacific, North America, Europe, and Eastern Europe. The firm typically invests between $0.5 million and $10 million in its portfolio companies and has backed over 60 startups, achieving successful exits for 12 companies. With a team of technology and sector experts, I2BF Global Ventures aims to support companies that are poised to drive innovation and contribute to a sustainable future.

Yandex is a Russian internet and technology company, operating the largest search engine in Russia and the most visited website in the country. It develops and provides a range of internet-based services and products, including transportation services, navigation products, and mobile applications, all powered by machine learning. Yandex's services span search and portal, e-commerce, mobility, delivery, entertainment, classifieds, and media, generating revenue primarily from its search and portal segment in Russia, Belarus, and Kazakhstan.

QIWI is a company that operates electronic online payment systems primarily in Russia, Kazakhstan, Moldova, Belarus, Romania, and the United Arab Emirates. Founded in 2007 and based in Nicosia, Cyprus, it offers a range of services through its various segments, including Payment Services, Consumer Financial Services, and Small and Medium Enterprises. QIWI provides payment solutions via a network of approximately 111,000 kiosks and 23,000 terminals, enabling transactions through its proprietary software. Its key products include QIWI Wallet, an online and mobile payment processing system that facilitates payments to merchants and peer-to-peer transfers, as well as Visa-branded prepaid cards. The company also offers installment payment card systems under the SOVEST brand and digital banking services for retail customers through Rocketbank and for small and medium businesses through Tochka. QIWI's focus on innovation is further exemplified by its venture initiatives to support new business ideas.

Impulse VC, established in 2013 and headquartered in Moscow, Russia, is a venture capital firm that provides funding and operational support to technology and media companies. The firm focuses on seed to series A-stage investments across a range of industries, including business-to-business, software as a service, proptech, marketing technology, marketplaces, and adtech. With a diverse portfolio that includes companies from the USA, UK, and Russia, Impulse VC aims to support exceptional startups that operate on a global scale.

BlueOrchard Finance, founded in 2001 and headquartered in Zurich, Switzerland, is a prominent impact investment manager specializing in microfinance. The company focuses on providing debt financing to microfinance institutions across the globe, with local offices in countries such as Cambodia, Georgia, Peru, and Kenya. BlueOrchard has facilitated over USD 2 billion in loans, aiming to enhance financial inclusion for the working poor and improve their living standards. The firm supports various sectors, including energy, education, and sustainable infrastructure, addressing pressing global challenges such as climate change and job creation. BlueOrchard is dedicated to delivering both financial and social returns to investors while promoting a sustainable and inclusive financial system worldwide.

Avito, established in 2007 by Jonas Nordlander and Filip Engelbert, is Russia's leading online classifieds platform. It facilitates the buying and selling of a wide array of items, including used cars, clothing, real estate, and collectibles, as well as services and event tickets. The platform connects buyers and sellers, enabling transactions without charging fees for ad placement, and caters primarily to small and medium-sized businesses.

Vershina Capital is a venture capital firm established in 2019 and based in Moscow, Russia. The firm specializes in investing in early-stage startups that focus on innovative business models within the online education, food tech, and e-commerce sectors. Vershina Capital aims to support the growth of these companies by providing both financing and expertise, targeting markets in the United States, Europe, China, Russia, and the Commonwealth of Independent States.

European Regional Development Fund encourages innovation, enhances regeneration, and provides support to businesses in the European Union.

Mubadala Capital, established in 2011, is the financial investment arm of Mubadala Investment Company, a sovereign wealth fund owned by the Government of Abu Dhabi. Based in Abu Dhabi, the firm manages investments across various asset classes, including private equity, public equity, credit, and venture capital. Mubadala Capital focuses on investing in advanced technology sectors, with a particular emphasis on semiconductors, and has a strong track record in venture capital, having been an active investor for over a decade. The firm's Ventures platform includes direct investment, fund of funds, and oversight of Mubadala's partnership with SoftBank, including its commitment to the SoftBank Vision Fund. Mubadala Capital operates globally, with offices in Abu Dhabi, San Francisco, and London, and strong connectivity to European and Chinese venture capital markets.

Zubr Capital, established in 2009, is a technology-focused growth equity firm based in Limassol, Cyprus. It specializes in mid-market investments across Central Europe, with a particular focus on Belarus. The firm invests in growth-stage companies across various sectors, including IT, fintech, e-commerce, and SaaS, typically taking minority equity stakes. Zubr Capital has a 10+ year track record in private equity, with over 20 successful investments and exits. Its key investors include the European Bank for Reconstruction and Development (EBRD) and FMO (Dutch Development Bank). The firm aims to foster capital market development, create a robust financial ecosystem, and promote equity investments in the region.

Da Vinci Capital, established in 2007, is a private equity firm headquartered in Guernsey, with additional offices in London, Moscow, and Nur-Sultan. The firm specializes in growth capital and buyouts, investing in companies across various sectors such as B2B, fintech, technology, and consumer services. Da Vinci Capital primarily focuses on the Russian and CEE regions, with a strong presence in the United States and European markets. The firm typically invests between $5 million and $100 million in companies valued between $100 million and $1 billion, seeking significant minority stakes or controlling interests. Da Vinci Capital aims to achieve strategic business objectives and secure exits through sales to strategic investors, secondary sales, or IPOs within a typical investment horizon of two to five years. The firm is led by Oleg Jelezko and has approximately $450 million under discretionary and advisory management.

Gazprom-Media Holding, established on January 21, 1998, is one of the largest media holdings in Russia and Europe. The company encompasses a diverse range of assets, including television, radio, print media, cinema production, advertising, movie theaters, and internet platforms. Gazprom-Media focuses on the accumulation and development of these media assets to strengthen its position in the industry. In 2009, the holding reported total revenues of 33,485 million rubles, demonstrating its significant presence in the media landscape.

Flashpoint Venture Capital, established in 2012 and headquartered in London, is an international investment group managing six funds with a combined assets under management of approximately $500 million. The firm focuses on investing in Western tech companies founded by expats from Emerging Europe and Israel, with a particular interest in software, business products and services, and emerging technologies such as IoT, cybersecurity, and SaaS. Flashpoint has invested in over 50 companies, including notable names like Guesty, Chili Piper, and Office R&D, and has successfully exited from investments in Shazam (acquired by Apple) and Chess.com (acquired by PokerStars founders and General Atlantic). The company maintains offices in key locations across Europe and Israel to facilitate its investment activities.

Startup Wise Guys, established in 2012 and headquartered in Tallinn, Estonia, is a leading early-stage investor and accelerator in the Central and Eastern European (CEE) region and the Nordics. It offers a world-class, up to five-month accelerator program focused on validating, developing, and selling products to business customers, with a particular interest in Sustainability, B2B SaaS, Fintech, Cybersecurity, and XR sectors. The program, supported by over 200 international and local mentors, has accelerated more than 300 startups, with an 80% success and survival rate, and 11 major exits. Post-program, startups join an alumni community of over 300 startups across 40 countries, gaining access to invite-only events for business development and fundraising support.

X5 Retail Group is the leading grocery retail company in Russia, managing a diverse portfolio of retail chains that include Pyaterochka, Perekrestok, and Karusel. As of March 2020, the company operated 16,658 stores across various formats, including proximity stores, supermarkets, hypermarkets, and online platforms. The Pyaterochka brand dominates the market with 15,739 locations, while Perekrestok contributes 846 supermarkets and Karusel operates 73 hypermarkets. X5 Retail Group has a significant presence in major cities such as Moscow and St. Petersburg, as well as across European Russia. The company generates the majority of its revenue from the Pyaterochka segment, highlighting its pivotal role in the Russian grocery sector.

AddVenture, established in 2008 and headquartered in Limassol, Cyprus, is a venture capital fund that invests in early-stage companies. It focuses on sectors such as horizontal marketplaces, vertically integrated services, food tech, health tech, home services, and medical technologies. The fund typically invests amounts ranging from $0.3 to $5 million.

responsAbility Investments AG, established in 2003, is a leading impact asset manager based in Zurich, Switzerland. It manages over USD 3 billion in assets, invested in approximately 450 companies across 90 emerging economies. responsAbility focuses on three key investment themes: Financial Inclusion, Climate Finance, and Sustainable Food, aligning its strategies with the United Nations' Sustainable Development Goals. The firm specializes in private market investments, including private debt and equity, and has disbursed over USD 10 billion since inception. responsAbility has local offices in Bangkok, Lima, Mumbai, Nairobi, Oslo, Paris, and Tbilisi, and is registered with the Swiss Financial Market Supervisory Authority FINMA. It is owned by various reputable Swiss and international financial institutions, private investors, and its own employees.

Runa Capital, established in 2010, is a venture capital firm headquartered in Moscow, Russia, with a focus on early-stage technology investments. The firm manages three funds, totaling $405 million, and invests in rapidly growing tech sectors such as artificial intelligence, machine learning, and SaaS. Runa Capital seeks to support growth-stage businesses that generate revenues, helping them expand globally and become international champions. The firm's investment size typically ranges from $1 million to $10 million per company, with an average investment of $3 million to $5 million. Runa Capital's team comprises successful entrepreneurs with extensive operational and investment experience, spanning various industries and geographies, including North America, Europe, and Asia-Pacific.

MUFG Bank, Ltd., established in 1957, is a prominent commercial bank headquartered in Sydney, Australia, with a global presence in 41 countries. It offers a comprehensive suite of banking products and services, including loans, deposits, guarantees, remittances, foreign exchange, derivatives, cash management, trade finance, and asset finance. As a subsidiary of MUFG Bank, Ltd., it operates as part of Mitsubishi UFJ Financial Group (MUFG), one of the world's largest banks with approximately $3.2 trillion in assets. MUFG's services span corporate and investment banking, transaction services, and personal banking, catering to individual, corporate, and institutional clients worldwide.

Mizuho Bank, headquartered in Tokyo, Japan, is a commercial bank offering a wide array of financial services. Established in 2013, it provides corporate and investment banking services to major corporations, financial institutions, and public sector entities. The bank's services include various deposit and loan products, as well as investment banking, custodial, syndication, and real estate finance services. Through its subsidiary, Mizuho Americas, it offers investment banking services, catering to diverse sectors such as consumer retail, financial institutions, healthcare, and technology, among others. Mizuho Americas combines Japanese heritage with American talent, offering creative solutions while mitigating risks. Mizuho Corporate Bank, another subsidiary, delivers business solutions tailored to meet the needs of both domestic and global companies.

AltaIR Capital, established in 2005 and headquartered in San Francisco, is a venture capital firm that invests in early and growth-stage startup companies across various sectors. They focus on companies with disruptive ideas and high growth potential, often investing in seed-stage ventures operating in areas such as productivity tools, future of work, software as a service, fintech, insurtech, artificial intelligence, and digital health. AltaIR's portfolio comprises key players in the startup industry, top incubator graduates, and promising teams.

Access Industries is a privately held industrial group established in 1986 by entrepreneur and philanthropist Len Blavatnik. Headquartered in New York, with additional offices in London and Moscow, the firm focuses on long-term holdings across various sectors, including natural resources, chemicals, media, telecommunications, real estate, and venture capital. Access Industries is known for its strategic investments in the United States, Europe, and South America, and it manages a diverse portfolio that includes several market-leading companies. The firm also engages in asset management with a focus on biotechnology and entertainment, aiming to provide strategic equity to enhance its investment outcomes.

Primer Capital is a venture capital firm based in Moscow, Russia, specializing in early-stage investments in the pharmaceutical and biotechnology sectors. Established in 2015, the firm focuses on promising projects in areas such as oncology, cardiology, rheumatology, and medical devices, among others. Primer Capital typically invests between $0.2 million and $0.5 million and also considers co-investments, collaborating with various stakeholders, including other venture capital funds, business angels, and government agencies interested in the biopharmaceutical industry. The firm benefits from a qualified team and a Scientific Advisory Board made up of experts in medical and biopharmaceutical fields, which aids in the careful selection of projects for its portfolio. Primer Capital's extensive experience and knowledge of the industry ecosystem enhance the prospects for its portfolio companies, supporting them in establishing effective partnerships and facilitating fundraising throughout their development.

Russian Venture Company, established in 2006 and based in Moscow, is a state-owned entity that serves as a fund of funds. Its primary focus is to invest in venture funds that target Russian technology companies, thereby supporting the growth of innovative startups within the country. The company aims to enhance the competitive landscape of the Russian IT market by providing financial resources and fostering the development of high-potential ventures. With a capital base of approximately US$ 1 billion, Russian Venture Company plays a pivotal role in promoting technological advancement and entrepreneurship in Russia.

ZGI Capital, established in 2005, is a Latvian-based private equity and venture capital firm. It specializes in early to late-stage investments, focusing primarily on Fintech, with a secondary focus on industries such as metalworking, food, woodworking, logistics, IT, engineering, and retail. The firm invests in the Baltics and CIS countries, typically committing between €0.5 million to €1 million, and up to €5.7 million with additional financing. ZGI Capital prefers equity investments, usually taking a minority stake of up to 49%, and has an investment term of three to six years. It exits through stake sales to other investors. The firm manages the ZGI Fund, with EUR 7.4M in assets, which can facilitate projects up to EUR 30M with bank financing. ZGI Capital supports entrepreneurs lacking start-up capital and acts on behalf of various investors, including the State.

UFG Asset Management, established in 1996, is a Moscow-based, privately owned investment manager. It specializes in managing client-focused portfolios, primarily investing in the capital markets of Russia and the Commonwealth of Independent States (CIS). The firm offers a range of services, including asset management and investment advisory, across various asset classes such as private debt, public markets, private equity, and real estate funds. UFG AM operates as a subsidiary of ZAO Deutsche Securities.

Waarde Capital is a private equity and venture capital firm founded in 2012 and based in Amsterdam, Netherlands, with additional offices in Moscow, Russia, and Laren, Netherlands. The firm specializes in management buyouts, successions, restructuring, and turnaround investments, as well as seed, startup, early-stage venture, middle market, and growth capital investments. Waarde Capital primarily targets sectors such as financial services, high-tech, telecommunications, new media, software development, biotechnologies, and retail. The firm invests globally, focusing on companies in Europe, the United States, Israel, Southeast Asia, and the CIS region. Typical investment sizes range from $0.2 million to $10 million for venture companies and from $5 million to $50 million for growth equity, targeting companies with revenues between $3 million and $100 million. Waarde Capital also offers debt financing and often takes a board seat in its investments, acting as the lead or sole investor, and may engage in both minority and control investments. The management team brings significant entrepreneurial and investment experience, totaling around 150 years.