Gapminder Venture Partners BV is a venture capital firm established in 2017 and headquartered in Romania, focusing on early-stage investments in Pre-Seed, Seed, and Series A rounds. The firm targets innovative startups in sectors such as IT software and services, SaaS, machine learning, artificial intelligence, cybersecurity, digital transformation, healthcare IT, and fintech. Gapminder primarily invests in Romania and other countries in Eastern and Central Europe, aiming to support disruptive innovations that generate positive societal impacts. The firm leverages its team's background and experience to create value within the region, emphasizing a commitment to fostering bold initiatives that push boundaries in technology and business.

SeedBlink is an equity crowdfunding platform established in 2020 and based in Bucharest, Romania. The platform provides a range of services including sourcing, vetting, financing, and scaling for startups and businesses across various sectors. These sectors encompass business products and services, energy, financial services, healthcare, consumer products, information technology, cleantech, oncology, mobile applications, cybersecurity, e-commerce, and health technology. SeedBlink aims to facilitate investment opportunities in these diverse fields, helping to connect investors with innovative companies seeking funding.

Early Game Ventures (EGV) is a venture capital firm established in 2018 and based in Bucharest, Romania, with registration in the Netherlands. The firm focuses on early-stage investments in innovative sectors and intellectual property-driven businesses, including enterprise technology, consumer technology, and hardware. EGV aims to invest in startups that have the potential to create new industries in emerging European markets. Their investment strategy emphasizes working with founders who are both committed and adaptable, targeting substantial market opportunities. EGV prefers to be the first institutional investor in promising startups. Additionally, the firm operates a selective concierge accelerator, accepting only five or six startups each year to participate in a highly personalized and intensive program.

The Russian Direct Investment Fund (RDIF) is a sovereign wealth fund established in 2011 and headquartered in Moscow. Backed by the Russian government, RDIF aims to stimulate foreign direct investment in Russia's emerging economy by co-investing alongside other investors. The fund focuses on a diverse range of sectors, including agriculture, construction, logistics, aerospace, power, and pharmaceuticals. With a capital of $10 billion, RDIF plays a key role in facilitating investments that contribute to the growth and development of the Russian economy.

Baring Vostok Capital Partners is a private equity and venture capital firm established in 1994, with its headquarters in Moscow, Russia, and additional offices in Limassol, Cyprus, and Guernsey. The firm focuses on investing in various stages of companies, including seed, early, growth, and later stages, as well as through buyouts and acquisition financing. Baring Vostok targets a diverse range of sectors such as natural resource extraction, particularly oil and gas, telecommunications, mass media, utilities, construction materials, specialty manufacturing, real estate, internet services, software, retail, and service management. The firm has a strong emphasis on mid-market enterprises and has managed multiple private equity funds that aim to support companies with significant growth potential in Russia and the CIS region.

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 European Bank for Reconstruction and Development (EBRD) is an investment firm established in 1991 to support the development of market economies and democracies in Central and Eastern Europe and Central Asia. As the largest single investor in the region, the EBRD focuses on private enterprises, investing primarily in minority equity positions and participating in private equity funds that target medium-sized companies seeking expansion. The firm mobilizes significant foreign direct investment and provides project financing for a variety of sectors, including banking, industry, and municipal services. It collaborates with publicly owned companies to facilitate privatization and restructuring efforts. The EBRD operates in countries committed to democratic principles and emphasizes strong corporate governance and environmental respect in all its investments. With a portfolio exceeding €130 billion across over 5,200 projects, the EBRD has also extended its financing initiatives to the Middle East and Africa, leveraging its expertise to foster economic growth and transformation.

VTB is a prominent Russian bank headquartered in Moscow, established in 1990. It offers a comprehensive range of financial services, including retail, corporate, and investment banking. VTB Bank provides various corporate banking products, such as settlement and cash services, loans of varying terms, overdraft lending, and credit facilities. The bank also facilitates time, savings, and demand deposits, along with international settlements and bank guarantees. Additionally, VTB engages in foreign exchange control, derivatives, custody services, and securitization. The VTB Group encompasses over 30 banks and financial organizations across more than 20 countries, making it one of the largest financial groups in Russia by assets and customer accounts. Its operations extend beyond Russia, serving clients in the CIS, Europe, North America, Asia, and Africa.

Ruvento Ventures Pte. Ltd. is a venture capital and incubation firm based in Singapore, established in 2011. It specializes in direct investments and fund of fund investments, primarily targeting early-stage technology companies. The firm focuses on sectors such as artificial intelligence, machine learning, the Internet of Things, bioengineering, and various technologies that disrupt traditional industries. Ruvento's investment strategy includes supporting projects that have completed research and development or require minimal additional time to reach market readiness, typically investing between $0.05 million and $0.5 million per project. It also has an incubation program in Singapore that offers funding in two stages: up to $0.04 million for proof-of-concept and up to $0.16 million for commercialization. Ruvento Ventures aims to bridge markets in Eastern Europe and the Commonwealth of Independent States with opportunities in Asia, particularly in China, India, and Indonesia. The firm operates additional offices in San Francisco and Shanghai.

Roca X is a privately funded venture capital firm based in Bucharest, Romania, established in 2018. The firm focuses on investing in early-stage technology companies, particularly those led by young entrepreneurs with innovative ideas that have the potential to impact society. Roca X targets businesses in the development stage, specifically those with a minimum viable product (MVP) or prototype. Its mission is to support disruptive ventures and help transform visionary concepts into reality.

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.

Horizon Capital is a private equity firm established in 2006 and headquartered in Kyiv, Ukraine, with an additional office in Chicago, Illinois. It specializes in buyouts, growth capital, and expansion investments, primarily focusing on later-stage opportunities in small and mid-cap companies. The firm invests in various sectors, including light manufacturing, information technology, financial services, fast-moving consumer goods, and e-commerce, with a particular emphasis on industry leaders and companies with consolidation potential. Horizon Capital manages four funds with assets exceeding $850 million and is backed by over 40 institutional investors. The firm actively seeks to partner with visionary entrepreneurs and aims to generate value through governance and operational improvements. Investments typically range from $5 million to $20 million, with a preference for acquiring control stakes, though minority interests are also considered. Horizon Capital generally seeks to exit its investments within three to five years via trade sales or initial public offerings. With a team that boasts over 75 years of regional investment experience, the firm is committed to integrity, transparency, and successful value creation.

SMRK VC Fund is a venture capital firm established in November 2013 and headquartered in Kyiv, Ukraine. The firm specializes in funding pre-seed, seed, and early-stage startups, primarily focusing on information technology projects. SMRK VC Fund targets investments in software for mobile operating systems, casual and business software, and enhancing the online presence of offline businesses, as well as B2C and B2B services. It concentrates its efforts on IT projects in Ukraine, Russia, Belarus, and Central Europe but is open to opportunities in other regions as well. The firm typically invests between $0.1 million and $1 million, seeking to acquire a minority stake in the companies it supports. Notable projects funded by SMRK VC Fund include Allset, Preply, Competera, and AJAX Systems.

Starta Ventures is a New York-based venture capital firm founded in 2013 that focuses on investing in early-stage companies, particularly in sectors such as B2B, education, HR, gaming, legal tech, food tech, and fintech. It typically invests between $0.2 million and $0.5 million in its portfolio companies, acquiring minority stakes of up to 10 percent. In addition to its investment activities, Starta Ventures operates Starta Accelerator, which specializes in supporting technology startups with European research and development roots. This accelerator program, launched in 2015, offers a 14-week curriculum designed to help Eastern European founders adapt to the U.S. business environment, refine their product-market fit, and integrate into the local startup ecosystem. Starta Accelerator invests $130,000 in selected startups, combining program services and cash in exchange for equity. Together, these initiatives aim to connect international startups with essential resources, mentors, and best practices to enhance their growth potential in the U.S. market.

CapMan is a prominent Nordic private asset management and investment firm founded in 1989 and headquartered in Helsinki, Finland. With over 30 years of experience, CapMan specializes in private equity, real estate, and infrastructure investments across the Nordic countries and Russia. The firm manages a diverse portfolio, including buyout and growth funds, as well as real estate value-added funds, targeting various sectors such as healthcare, technology, and manufacturing. CapMan is committed to enhancing the performance and stability of unlisted businesses and real estate, believing that well-managed companies contribute to economic growth and societal well-being. Its investment strategy emphasizes creating high-quality environments and utilities, which are essential for thriving communities.

AddVenture is an international venture capital fund established in 2008 and based in Limassol, Cyprus. The fund employs a sector-focused investment strategy, primarily targeting software, media, telecommunications, and technology sectors, along with horizontal marketplaces, vertically integrated services, food tech, and health tech. With investment amounts ranging from $1 million to $10 million, AddVenture aims to support innovative companies and entrepreneurs in various industries, contributing to their growth and development in the competitive market landscape.

AltaIR Capital is a venture capital firm founded in 2005 and based in San Francisco, California. The firm specializes in managing funds that invest in early and growth stage startups across a variety of sectors. It focuses on companies that operate in productivity tools, future of work, software as a service, financial technology, insurance technology, artificial intelligence, and digital health. AltaIR Capital aims to support innovative companies with disruptive ideas and significant return potential, often backing key players in the startup ecosystem, including top incubator graduates and promising teams.

Leta Capital is a venture capital firm established in 2012 and based in the Cayman Islands, focusing on early-stage B2B software startups. Funded by Russian IT entrepreneur Alexander Chachava, the firm aims to support innovative companies at the late seed and early growth stages, primarily in Eastern Europe and Israel. Leta Capital typically invests around 2 million USD in startups with existing sales in international markets. The firm emphasizes collaboration with talented entrepreneurs who aspire to build substantial companies. With a successful track record that includes notable exits, such as the sales of Unomy and Bright Box, Leta Capital recently raised a second fund of 50 million USD, reinforcing its commitment to fostering long-term partnerships in the technology sector.

Flashpoint is an international investment firm founded in 2012 and headquartered in London, United Kingdom, with additional offices in Tel-Aviv, Budapest, Warsaw, Riga, and Nicosia. The firm manages approximately $500 million in assets under management and focuses on investing in software companies, particularly in the business-to-business (B2B) sector, as well as business-to-consumer applications. Flashpoint operates six venture funds, including venture capital funds, a venture debt fund, and a secondary fund, and has a strong presence in Eastern Europe and Israel. Its investment strategy encompasses various technology sectors, such as information technology, cybersecurity, e-commerce, and software-as-a-service (SaaS). With a diverse investor base that includes over 120 family offices and high-net-worth individuals, Flashpoint has invested in more than 50 companies, achieving eleven exits, including notable sales of stakes in Shazam and Chess.com.

Yandex is a multinational technology company based in Russia, recognized as one of the largest internet firms in Europe. It operates the country's most popular search engine, which accounts for a significant portion of search traffic in Russia. In addition to its core search and portal services, Yandex has diversified its offerings across several segments, including e-commerce, mobility and delivery, entertainment, classifieds, and media services. The company also has a presence in Ukraine, Kazakhstan, Belarus, and Turkey, leveraging machine learning to enhance its products and services.

VEB Ventures, established by Vnesheconombank in 2011, operates as a venture capital firm based in Moscow, Russia. Its primary focus is on investing in high technology projects associated with the Skolkovo Foundation, with an emphasis on medical technology, biotechnology, and clean technology sectors. The firm aims to support the Russian government's innovation initiatives, develop innovation infrastructure within the country, facilitate the transfer of advanced technologies to Russia, and promote Russian innovations on the global market. Through its investments, VEB Ventures seeks to contribute to the growth of the Russian economy by fostering technological advancements and enhancing competitiveness in the global landscape.

TA Ventures is a venture capital firm founded in 2010, with its headquarters in Kyiv, Ukraine, and additional offices in various international locations including Boston and Frankfurt. The firm specializes in growth capital and early-stage investments, specifically targeting seed to Series A startups in sectors such as digital health, mobility and logistics, consumer technology, fintech, and enterprise software. TA Ventures focuses its investments predominantly in Ukraine and Israel, making equity investments ranging from $0.25 million to $1 million, with the capacity for follow-on funding. The firm does not invest in pre-revenue or pre-launch companies, and it typically seeks to co-invest alongside established venture funds rather than leading investment rounds. TA Ventures also aids Western web companies in entering local markets through joint ventures, while leveraging its extensive network to facilitate access to skilled R&D teams in Central and Eastern Europe. The firm does not take board seats or advisory roles in its portfolio companies.

Elbrus Capital is a private equity and venture capital firm based in Moscow, specializing in investments across various sectors in Russia and the CIS region. Founded in 2007, it manages funds with approximately $1 billion in assets and has completed over 90 acquisitions. The firm's investment strategy focuses on early-stage and middle-market companies, targeting fast-growing businesses with potential for further growth and consolidation. Elbrus Capital typically invests between $30 million and $100 million, acquiring significant minority stakes or controlling interests in its portfolio companies. The firm has a diverse investment portfolio that includes leading players in digital services, consumer goods, outsourcing, logistics, healthcare, and media. Elbrus Capital aims to partner with entrepreneurs to enhance business development, seeking to capitalize on growth opportunities beyond major urban centers like Moscow and St. Petersburg.

Sparking Capital is a venture capital firm founded in 2017 and based in Bucharest, Romania. The firm specializes in pre-seed and seed investments, targeting early-stage startups across various industries. While it is industry agnostic, Sparking Capital shows a strong preference for sectors such as consumer internet, marketing technology, supply chain technology, financial technology, property technology, and the circular economy. The firm aims to support entrepreneurs who possess unique industry insights and a strong vision, focusing on businesses with disruptive models and significant growth potential. By investing in startups with the capability to scale rapidly, Sparking Capital seeks to back companies that can become national champions and achieve international success.

Flyer One Ventures is a venture capital firm established in 2018 and based in Warsaw, Poland. The firm focuses on investing in early-stage startups across various sectors, including B2B and B2C markets. With a particular interest in companies that demonstrate high growth potential, Flyer One Ventures aims to support innovative startups by providing not only financial backing but also strategic guidance. The firm leverages its expertise in digital marketing and product development to assist portfolio companies in optimizing their operations and expanding into international markets. By focusing on startups in regions with limited access to early-stage financing, Flyer One Ventures seeks to empower entrepreneurs and help them scale their businesses to achieve global recognition.

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.

Sistema Venture Capital is the venture capital arm of AFK Sistema, established in 2016 and headquartered in Moscow, Russia, with an additional office in London, United Kingdom. The firm specializes in investing in growth-stage technological companies and early-stage startups, primarily focusing on sectors such as artificial intelligence, machine learning, cognitive technologies, software as a service (SaaS), platform as a service (PaaS), internet of things, and virtual and augmented reality. Sistema Venture Capital aims to acquire both minority and controlling stakes, typically investing around $10 million in projects, to help establish market leaders within three to five years. The firm emphasizes its commitment to backing innovative internet and technology companies while avoiding investments in ventures where founders have lost control. Its investment strategy is global, targeting markets in the US, UK, Western Europe, Russia, Israel, and other CIS nations. Through its extensive network and expertise, Sistema VC provides support and mentorship to entrepreneurs, connecting them with valuable professionals and prospective partners.

YellowRockets.vc is an early-stage venture capital firm based in San Francisco, California. The firm seeks to invest in companies operating in the robotics and automation sectors.

Winter Capital Partners is a private equity and venture capital firm established in 2015, based in Moscow City, Russia. The firm specializes in mid to late venture and growth capital investments, focusing on high-growth sectors including consumer technology, financial services, healthcare, education, and digital health. Winter Capital typically invests between $0.5 million and $5 million for venture capital and between $10 million and $100 million for private equity, often acquiring minority stakes in venture capital deals and both minority and controlling stakes in private equity transactions. The firm also offers advisory services and manages funds with over $1 billion in assets, targeting investments in emerging markets and Europe. In late November 2023, Winter Capital was acquired by Rockstone Ventures.

Xploration Capital is a London-based venture capital firm that invests in innovative companies across various sectors, focusing particularly on those involved in the Fourth Industrial Revolution. The firm supports technology-enabled startups at different stages of development, emphasizing industries with low levels of digitalization such as natural resources, manufacturing, construction, utilities, and transportation. Additionally, Xploration Capital is equipped to assist startups in other fields, including healthcare, education, and consumer products. By connecting these startups with major multinational corporations, the firm facilitates early product feedback and fosters opportunities for sales and strategic partnerships. This approach not only helps emerging businesses scale their products in international markets but also enables established players to leverage advanced technologies.

Promsvyazbank is a Moscow-based financial institution that has been operating since its establishment in 1995. It offers a comprehensive range of banking products and services for retail and corporate customers, as well as small and medium-sized enterprises. The bank provides savings accounts, deposits, consumer loans, mortgages, and credit cards, alongside investment brokerage services, mutual funds, and custody services. Additionally, Promsvyazbank offers various insurance products, including accident, travel, and property insurance. The bank has a significant presence in Russia, with approximately 300 offices and around 8,500 ATMs. In 2018, it was acquired by the Deposit Insurance Agency.

Gazprombank, established in 1990 and headquartered in Moscow, is the third largest bank in Russia, offering a diverse range of banking, financial, and investment services. The bank serves corporate and private clients, financial institutions, and institutional investors through its comprehensive offerings, which include corporate and retail banking, investment banking, and depositary services. Its capabilities encompass project and structured finance, syndicated loans, trade finance, and asset management, along with services in securities trading and foreign exchange operations. Gazprombank also has a significant presence in various sectors, including energy, oil and gas, telecommunications, and healthcare, and operates an extensive network of branches across Russia and abroad. The bank is involved in direct investments through its investment arm, focusing on energy efficiency, infrastructure, and high-tech industries. Notably, it owns Gazprom Media, which includes major media assets such as the NTV channel and Izvestia newspaper, enhancing its influence in both financial and media sectors.

Sistema Public Joint Stock Financial Corporation is a diversified conglomerate based in Moscow, Russia, with operations spanning various sectors including telecommunications, retail, high technology, finance, pulp and paper, utilities, pharmaceuticals, healthcare, agriculture, real estate, and tourism. The company's key segments include Mobile TeleSystems, Segezha Group, and Ozon Holdings Limited, with Mobile TeleSystems being the primary revenue generator, offering mobile and fixed-line communication services, data transfer, internet access, and digital content. Sistema also produces a range of products such as plywood and paper sacks, and it develops advanced radar and communication systems. In addition, it engages in e-commerce, asset management, and venture capital, while also operating healthcare facilities and a retail network featuring brands like Acoola and Concept Club. The company is involved in various agricultural activities and real estate development, contributing to a broad portfolio that serves both Russian and international markets. Founded in 1993, Sistema continues to play a significant role in multiple industries.

Target Global is a private equity and venture capital firm headquartered in Berlin, Germany, with over €800 million in assets under management. Founded in 2012, the firm specializes in early-stage investments across various sectors, particularly in technology-driven companies. It focuses on digital consumer sectors, such as fintech, cybersecurity, e-commerce, and software services, while avoiding online media and social networks. Target Global typically invests between €0.2 million and €30 million, targeting enterprises valued between €5 million and €500 million. The firm emphasizes businesses that generate most of their revenue from the B2C segment and actively invests in Europe, Israel, and the United States. With a team of over 50 professionals, Target Global leverages its extensive network and experience to support entrepreneurs in building market leaders. Its portfolio includes notable companies like Auto1, Delivery Hero, and Omio.

u.ventures is a venture capital firm established in 2017 and based in Kyiv, Ukraine. With over twenty years of experience through the Western NIS Enterprise Fund, u.ventures focuses on investing in early-stage technology startups with strong teams and significant growth potential. The firm aims to support local entrepreneurs in Ukraine and Moldova who aspire to create innovative global ventures. By fostering the development of these startups, u.ventures contributes to the growth of the regional technology ecosystem.

Startup Wise Guys, founded in 2012 and based in Tallinn, Estonia, is a prominent early-stage investor and accelerator in the Central and Eastern European (CEE) region and the Nordics. The organization has accelerated over 165 startups, primarily in B2B SaaS, fintech, and cybersecurity, achieving a startup survival and success rate exceeding 77%. Its intensive three-month accelerator program focuses on product validation, development, and sales to business customers, supported by a network of over 200 international and local mentors. The program culminates in Demo Days and major tech events where startups present their ventures to potential investors. Additionally, participants gain access to an alumni community of more than 145 startups across 40 countries and exclusive alumni events centered on business development and fundraising. Startup Wise Guys also manages dedicated funds targeting various sectors, including an Africa Fund that invests in fintech, health tech, and digital SaaS, among others.

Zubr Capital is a private equity firm based in Belarus, established in 2009 by the management team of Atlant-M Holding. It is the first professional private equity firm in the country, focusing on mid-market investments, particularly in growth-stage companies across various sectors including consumer products, information technology, financial technology, manufacturing, and e-commerce. The firm launched its inaugural fund, Zubr Capital Fund I, in June 2016, which has a target size of USD 50 million, with notable backing from the European Bank for Reconstruction and Development as the anchor investor. Zubr Capital aims to leverage its expertise to drive the growth of its portfolio companies in Belarus and the broader Central European region. The firm is led by Chief Executive Officer Oleg Khusaenov.

Inovo Venture Partners is a venture capital firm established in 2011 and based in Warsaw, Poland, with over €50 million in assets under management. The firm focuses on investing in high-growth technology companies at the pre-seed, seed, and Series A stages, particularly within the Central and Eastern European region. Inovo specializes in sectors such as developer tools, artificial intelligence, machine learning, data science, healthcare, and SaaS-enabled marketplaces. The firm has earned recognition as a leading venture capital investor in Poland, having supported over 20 companies through direct investments and as business angels. Notable investments from its first fund include Booksy and Brand24, while its second fund has backed companies like Allset and Tidio. Inovo's team comprises experienced professionals with backgrounds in prominent organizations, enabling them to effectively identify and nurture companies that are poised to transform their industries and achieve market dominance.

Gecad Ventures is a venture capital firm based in Bucharest, Romania, founded in 1992. The firm focuses on investing in start-up and expansion-phase hi-tech companies from Central and Eastern Europe that demonstrate significant potential for international growth. Gecad Ventures targets a variety of sectors, including cybersecurity, fintech, artificial intelligence and machine learning, augmented and virtual reality, transportation, the Internet of Things, and agritech. By investing between €1-7 million in equity, Gecad Ventures aims to foster strong strategic relationships with founding teams and support them in achieving their business goals. With over 20 years of experience, the firm has a history of successful exits, including partnerships with major companies such as Microsoft and Fitbit.

LAUNCHub Fund, managed by LAUNCHub Ventures, is a venture capital firm established in 2012 and based in Sofia, Bulgaria. The fund focuses on seed and Series A investments in digital startups throughout Southeastern Europe. It primarily targets sectors such as information technology, SaaS, health-tech, e-commerce, and IoT, though its investment scope is not limited to these areas. With a total management of €30 million, LAUNCHub Fund typically invests between €300,000 and €700,000 per company, with the possibility of expanding investments up to €1.5 million. The firm aims to support early-stage companies that demonstrate strong growth potential in both enterprise and consumer markets.

Digital Disrupt is a venture capital firm established in 2016 and based in Nicosia, Cyprus. The firm focuses on investing in early-stage projects within the information technology sector, particularly those that aim to drive digital transformation globally. Digital Disrupt leverages its expertise and network to support the growth of disruptive digital initiatives, believing that such advancements can significantly enhance people's lives. The firm is dedicated to fostering innovation and facilitating positive change through strategic investments in promising technology-driven ventures.

PrivatBank, founded in 1992 and based in Dnipro, Ukraine, is a commercial bank that offers a wide range of banking services and products. The bank's investment portfolio primarily consists of long-term government bonds, with a significant portion in middle-term bonds denominated in foreign currency and short-term government bonds. PrivatBank also holds various assets, including premises, repossessed collateral, and investment properties. The institution plays a crucial role in providing financial services, including credit lines supported by international financial organizations such as the World Bank and the European Bank for Reconstruction and Development, as well as the German-Ukrainian Fund aimed at assisting small and medium-sized businesses.

InVenture Partners is a venture capital firm based in Moscow, Russia, established in 2012. The firm specializes in seed, early, mid, and late-stage investments, primarily focusing on technology-driven companies in sectors such as online financial services, digital media, mobile technology, e-commerce, and telecommunications. InVenture Partners typically invests between $0.5 million and $5 million in companies with an enterprise value ranging from $1 million to $50 million. The firm targets investments in Russia, the United States, the CIS region, the United Kingdom, and both developed and emerging markets in Europe. It seeks to exit investments within five years, with the possibility of a two-year extension, and prefers companies with the potential for an initial public offering within two to three years. InVenture Partners generally takes a minority stake and aims for a board seat in its portfolio companies. Their investment strategy emphasizes backing innovative startups that address market inefficiencies and offer disruptive solutions.

AYR Capital is a private equity and venture capital firm established in 2014 and based in Moscow, Russia. The firm specializes in growth capital, early venture investments, mezzanine financing, and distressed assets, focusing primarily on the real estate, fast-moving consumer goods, oil and gas, energy, information technology, and manufacturing sectors. AYR Capital also invests in venture capital and real estate funds, utilizing its own capital for these investments. The firm's geographical focus includes the CIS region, the United States, and both Eastern and Western Europe, with particular attention to countries such as the United Kingdom, Spain, Germany, Austria, Latvia, Lithuania, Belarus, and Russia. In addition to its investment activities, AYR Capital offers financial advisory services and emphasizes relationship building with investors and portfolio companies as a crucial component of value creation.

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.

Adventures Lab is a venture capital fund established in 2019 and based in Kyiv, Ukraine. The firm focuses on investing in early, growth, and late-stage businesses, particularly in fast-growing B2C and B2B technology sectors. It supports motivated but struggling entrepreneurs by leveraging its business expertise and global partnership network. The fund provides investments of up to $500,000 for early-stage companies, $1 million for growth-stage businesses, and $3 million for late-stage ventures. Areas of interest include affiliate marketing, MarTech, mobile applications, gaming, digital health, content creation, health and beauty, and pet products and services. Additionally, Adventures Lab operates as a web 3 venture builder, further diversifying its investment strategy and supporting innovation in the tech industry.

Credo Ventures is a venture capital firm based in Prague, Czech Republic, founded in 2010. It specializes in early-stage investments, primarily targeting companies in Central and Eastern Europe, particularly in the Czech Republic and Slovakia. The firm focuses on sectors including information technology, software, internet, mobile, and healthcare. Within these sectors, it invests in various areas such as SaaS, business intelligence, media, social networking, diagnostics, and medical devices. Credo Ventures typically invests between €0.1 million and €2.7 million in its portfolio companies and seeks to support high-growth potential businesses with international aspirations. The firm's mission includes aiding these companies in their growth plans and facilitating their expansion into global markets.

The Untitled is a venture capital firm founded in 2010 and headquartered in Riga, Latvia, with additional offices in Moscow and London. The firm specializes in early-stage investments, including seed stage and growth capital for startups across diverse sectors, particularly focusing on retail performance, digital technologies, and new media. It primarily targets companies in Eastern Europe, including Russia, Belarus, and Ukraine, while also considering opportunities in Western Europe. The Untitled invests in projects that have a finished product or a working prototype, aiming for operational payback. Investment amounts typically range from $0.15 million to $2 million, depending on the stage and estimated value of the company, with stakes of 15% to 30%. The firm operates several investment programs, such as the Untitled Seed program and the U Growth program, which cater to various funding needs. Overall, The Untitled is committed to fostering innovation and supporting technology-driven enterprises in the region.

Rostelecom is the largest telecommunications operator in Russia, providing services to over 100 million subscribers across 80 regions. The company offers a wide range of services, including fixed and mobile telephony, broadband access, pay television, and cloud solutions tailored for both consumers and businesses. Although it had a monopoly on domestic and international long-distance telephone services until market deregulation in 2006, Rostelecom continues to hold a significant market share, exceeding 50%. The company manages substantial traffic volumes, carrying over 10 billion domestic and more than 4.8 billion international long-distance minutes. Additionally, Rostelecom is involved in various other services, such as leased line services, intelligent network services, and customer equipment servicing, reinforcing its position as a comprehensive telecommunications provider in the region.

Abris Capital Partners is an independent private equity firm based in Warsaw, Poland, established in 2007. The firm specializes in management buyouts, acquisitions, and expansion capital investments, primarily targeting middle market companies in Central and Eastern Europe, with a particular focus on Poland, Bulgaria, Romania, and Ukraine. Abris seeks to acquire majority stakes in growth-stage companies across various sectors, including industrial, commercial, and services, as well as healthcare, technology, and logistics. The firm typically invests between €15 million and €75 million and aims for a typical investment period of three to five years. Abris Capital Partners is committed to implementing operational and strategic changes in its portfolio companies, helping them transition from public to private ownership when necessary. The firm avoids investments in certain high-risk industries and prefers companies with positive operational profits. Exits are generally achieved through trade sales, initial public offerings, or secondary sales. In addition to its Warsaw headquarters, Abris has offices in Leeds, Nicosia, and Bucharest.