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.

Sberbank is the largest credit institution in Russia and the CIS, playing a vital role in the national economy. Founded in 1841 and headquartered in Moscow, the bank offers a wide range of corporate and retail banking products, including consumer loans, mortgages, deposit accounts, and various types of cards. It also provides personal banking services, payment solutions, and investments in securities, as well as asset management and insurance products. Sberbank caters to small businesses with business accounts, lending solutions, and merchant services, while also serving corporate clients with investment products, capital markets services, and trade finance. Additionally, it supports financial institutions through interbank lending and treasury services. The bank operates 11 regional banks and over 14,000 branches across Russia, with international operations in 18 countries, solidifying its position as a key player in the banking sector and accounting for a significant portion of the country's banking assets and deposits.

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 government-backed investment vehicle established to stimulate foreign direct investment in Russia's emerging economy. With a capital base of $10 billion, RDIF focuses on making equity investments primarily within the Russian market. The fund targets various sectors, including agriculture, construction, logistics, aerospace, power, and pharmaceuticals, aiming to foster growth and development across these industries. By attracting foreign investments, RDIF seeks to enhance the overall economic landscape of Russia while providing opportunities for international investors.

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.

Baring Vostok Capital Partners is a private equity and venture capital firm established in 1994 and headquartered in Moscow, Russia, with additional offices in Limassol, Cyprus, and Guernsey, Channel Islands. The firm focuses on investing across a range of sectors, including natural resources, telecommunications, media, utilities, construction materials, specialty manufacturing, real estate, and technology. Baring Vostok engages in various investment strategies, such as early venture funding, acquisitions, buyouts, and growth capital, targeting medium-sized enterprises in Russia and the Commonwealth of Independent States (CIS). The firm is known for its significant involvement in the energy, software, and consumer services sectors, and typically prefers investments ranging from 30 million to 200 million, focusing on companies with enterprise values between 100 million and 200 million.

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.

Rusnano is a principal investment firm based in Moscow, Russia, founded in 2007, with a focus on developing the nanotechnology industry and investing in high-tech projects. The firm specializes in both direct investments and fund of funds, targeting sectors such as scientific research, new materials, biotechnology, energy, and advanced manufacturing. Rusnano prioritizes projects that promise to establish new production facilities or enhance existing ones, seeking investments in companies forecasted to generate significant revenue within five years. Additionally, Rusnano operates subsidiaries, including RUSNANO USA, which invests in North America, and aims to co-invest in projects with substantial economic or social potential. The organization emphasizes innovation and aims to support the commercialization of developments in nanotechnology and related fields.

Ruvento Ventures Pte. Ltd. is a Singapore-based incubation and venture capital firm founded in 2011, specializing in direct investments and fund of fund investments. The firm focuses on early-stage technology companies, targeting sectors such as artificial intelligence, machine learning, Internet of Things, bioengineering, and cleantech. Ruvento actively seeks opportunities in markets like Russia, Moldova, Ukraine, and Belarus, aiming to introduce their innovations to Asian markets including China, India, and Indonesia. It typically invests between $0.05 million and $0.5 million in projects that have completed or are close to completing research and development. For promising deals, Ruvento can increase its investment through syndication up to $3 million. In its incubation program in Singapore, it provides funding in two phases, starting with up to $0.04 million for proof-of-concept and up to $0.16 million for the commercial stage. The firm also has offices in San Francisco and Shanghai, supporting its global investment strategy.

Starta Ventures is a venture capital firm based in New York, focusing on early-stage investments in pre-seed to round A startups. Established in 2011, it primarily targets sectors such as B2B, Education and HR, Gaming and E-sports, LegalTech, FoodTech, and FinTech. The firm typically invests up to $200,000 in individual projects, with the potential to increase this amount to $500,000 through syndication, while seeking minority stakes of up to 10 percent in its portfolio companies. In addition to its venture capital activities, Starta operates Starta Accelerator, which began in 2015 and specializes in supporting technology startups with European R&D roots. This accelerator program, headquartered in New York City, offers a 14-week curriculum and mentorship, focusing on helping Eastern European founders adapt to the U.S. business environment. Starta Accelerator invests $130,000 in participating startups, combining program services with cash, and aims to integrate these startups into the local ecosystem. Together, Starta Ventures and Starta Accelerator have built a diverse portfolio of over 150 companies from various global backgrounds.

CapMan is a prominent Nordic private asset management and investment firm founded in 1989, with a focus on private equity, real estate, and infrastructure. With over 30 years of experience, CapMan has established a strong presence in the Nordic region and Russia, managing a diverse portfolio that spans various industries. The firm aims to enhance the value of unlisted businesses by fostering better organization and financial stability, which contributes to economic growth and societal well-being. CapMan operates through two primary divisions: CapMan Private Equity, which includes funds like the Growth Equity and Mezzanine funds, and CapMan Real Estate, which focuses on core and value-added real estate investments. The firm targets investments in sectors such as technology, retail, and residential properties, emphasizing the importance of quality environments and utilities for thriving communities. Through its international networks, CapMan seeks to create sustainable value for its investors while supporting innovation and job creation in the regions it serves.

LETA Capital is a venture fund that specializes in investing in early-stage B2B software startups, particularly during the late seed and early growth phases. Founded by successful Russian IT entrepreneur Alexander Chachava, the fund aims to support innovative technology companies led by ambitious and skilled entrepreneurs. LETA Capital primarily targets startups in Eastern Europe and Israel, focusing on those with established sales in international markets. The fund recently raised $50 million for its second investment round and typically invests around $2 million in each venture. LETA Capital emphasizes long-term partnerships, providing not just capital but also expertise to help talented teams succeed. The fund has a proven track record, with three successful exits in 2017, including notable sales to major companies.

AddVenture is an international venture capital fund based in Nicosia, Cyprus, that focuses on specific sectors, including software, media, and technology, media, and telecommunications (TMT). The fund typically invests between $1 million and $10 million in promising companies within these industries. Through its targeted investment strategy, AddVenture aims to support innovative startups and foster growth in the sectors it specializes in.

Pulsar Venture Capital is an active player in the global venture capital market, with a strong presence in regions such as Russia, the United States, and Southeast Asia. The firm focuses on early-stage investments, primarily targeting sectors like software, telecommunications, cryptocurrency, new materials, and the Internet of Things. In addition to traditional investments, Pulsar Venture Capital accelerates the growth of high-tech businesses and enhances innovation infrastructure, particularly in developing economies. The team emphasizes investments in companies that utilize data to develop disruptive platforms and tools across various domains, including Clean Tech, Robotics, and Electronics. With a strategy to invest in a maximum of 30 companies, Pulsar Venture Capital aims to foster innovation and drive technological advancement.

Otkritie Holding JSC is a comprehensive financial institution based in Moscow, established in 2014. It offers a wide range of banking services tailored to individuals, small and mid-sized enterprises (SMEs), and corporate clients throughout Russia. The bank emphasizes corporate investment banking, retail banking, and private banking, while also prioritizing high-tech services. Notably, its initiatives, such as Rocketbank and Tochka, deliver online-only banking solutions, catering to the needs of both individuals and business owners. With a resilient and diversified business structure, Otkritie aims to enhance its equity management and maintain its competitive edge in the financial sector.

Altair LLC is a venture capital firm that focuses on investing in early and growth stage startup companies across various sectors. The firm seeks out businesses with disruptive ideas and significant return potential, aiming to support promising teams and key players in the startup ecosystem. Altair's portfolio includes notable companies that have emerged from top incubators, highlighting its commitment to fostering innovation and entrepreneurship. Through its strategic investments, Altair LLC plays a vital role in nurturing the next generation of industry leaders.

Flashpoint is an international asset management firm specializing in investments in software companies, particularly in the business-to-business (B2B) sector. Founded in 2012 and headquartered in London, the firm manages approximately $500 million in assets across six venture funds, including four venture capital funds, a venture debt fund, and a secondary fund. It focuses primarily on early-stage technology start-ups in Eastern Europe, Israel, and select markets in Central and Eastern Europe, as well as Finland. Flashpoint has invested in over 50 companies, including notable names such as Guesty, Chili Piper, and Office RnD, and has successfully completed eleven exits, including stakes in Shazam and Chess.com. The firm is backed by more than 120 family offices and high-net-worth individuals, and it operates offices in major cities such as Tel-Aviv, Budapest, Warsaw, Riga, and Nicosia.

Skolkovo Foundation, established in 2010 and located in Moscow, Russia, is a government organization that promotes the development of startups and venture capital in key sectors such as energy, information technology, biomedicine, nuclear technology, and space. It manages the Skolkovo Innovation Center, Technopark, Skolkovo Institute of Technology (Skoltech), and the Skolkovo city initiative. The foundation's IT cluster focuses on advancements in information technologies, while the biomed cluster nurtures innovations in biomedical technologies. The energy efficiency cluster aims to reduce energy consumption in various sectors, and the space technologies cluster develops projects related to space exploration and satellite navigation. Additionally, the nuclear technology cluster supports the creation of new products and materials for the power market. Skolkovo collaborates with major international companies, including Boeing, Cisco, and IBM, to foster research and development partnerships.

VEB Ventures fund was established by Vnesheconombank at the end of 2011 to invest in high technology projects of the Skolkovo Foundation. Key strategic goals of the Fund include support of the Russian government´s innovation programs, creation of innovation infrastructure in Russia, facilitation of advanced technologies transfer to Russia, and promotion of Russian innovations on the global market.

Softline Venture Partners is a corporate venture fund established in 2008 as part of Softline Group, focusing on seed-to-early-stage investments in software technology companies within the Russian and CIS markets. The fund has invested approximately $20 million in 20 portfolio companies, with individual project investments ranging from $100,000 to $1 million. As a stage-agnostic investor, Softline Venture Partners engages with businesses across various technology sectors, including cybersecurity, cloud computing, Big Data, Artificial Intelligence, Internet of Things, and Edge Computing. The extensive reach and capabilities of Softline Group, which operates in 50 countries and serves over 60,000 customers, provide unique opportunities for its portfolio companies to scale their business models and enhance sales through established sales channels worldwide.

TA Ventures is a venture capital firm established in 2010 and based in Kyiv, Ukraine, with additional offices in several international locations. The firm specializes in growth capital and early-stage investments, primarily targeting sectors such as digital health, mobility and logistics, consumer technology, fintech, and enterprise software. TA Ventures typically invests between $250,000 to $1 million in established companies, focusing on those with proven business models and strong unit economics. The firm prefers to invest in startups located in Ukraine and Israel, often collaborating with high-profile venture funds rather than leading investment rounds. While TA Ventures does not take board seats or advisory roles, it offers support by leveraging its extensive network to facilitate access to additional co-investors and resources, particularly in Central and Eastern Europe. The firm emphasizes equity investments and has the capacity for follow-on funding to support the growth of its portfolio companies.

Elbrus Capital is a private equity and venture capital firm based in Moscow, specializing in investments in early-stage, middle-market, and growth-oriented companies primarily in Russia and the CIS region. With a focus on sectors such as digital services, consumer goods, outsourcing, and healthcare, the firm aims to support businesses seeking significant growth and consolidation opportunities. Since its inception in 2007, Elbrus Capital has made over 90 acquisitions, investing between $30 million and $100 million in companies valued at $50 million to $100 million. The firm typically seeks significant minority stakes or controlling interests in its portfolio companies, which span various industries, including technology, media, and consumer services. Elbrus Capital's investment horizon generally ranges from three to seven years, emphasizing partnerships with ambitious entrepreneurs to enhance business development.

Quadriga Capital Russia GmbH & Co. KG, founded in 1995 and headquartered in St. Petersburg, Russia, is a venture capital firm that has ceased making new investments. The firm specialized in providing growth, expansion, and development capital, primarily targeting companies in the manufacturing sector, including automotive and oil and gas components, as well as industrial services, consumer services, consumer goods, and media. Quadriga avoided sectors such as real estate, military, and equipment related to hard liquor. It typically invested between $0.3 million and $15 million in companies with capitalizations ranging from $5 million to $20 million, focusing on equity and equity-related deals valued between $4 million and $15 million in firms generating sales exceeding $10 million. Quadriga sought to obtain board representation and veto rights in its portfolio companies, generally acquiring minority or majority stakes of 25% to 51%. The firm preferred to exit investments within three to six years through various means, including buyouts or sales to third parties. Additionally, it operated offices in Moscow, Yaroslavl, and Nizhnii Novgorod and was a subsidiary of Quadriga Capital Eigenkapital Beratung GmbH.

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.

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.

CEE Equity Partners Ltd is a private equity firm focused on making investments in Central and Eastern Europe, particularly in sectors such as infrastructure, energy, telecommunications, and specialized production. The firm engages in various types of investments, including buyouts, expansion capital, and project finance, with a typical investment range of $20 million to $65 million in equity, often supplemented by debt financing. CEE Equity Partners emphasizes classic infrastructure projects like roads and ports, as well as environmental initiatives such as waste management and renewable energy sources, including wind and biomass. In telecommunications, the firm invests in fibre-optic networks and data centers. Additionally, CEE Equity Partners serves as the investment advisor for two China-CEE Funds with over $1.2 billion in committed capital, established in collaboration with China Exim Bank and other institutional investors to foster economic growth and provide returns in the region. The firm operates from its headquarters in Warsaw, Poland, with offices in several other CEE countries and the United Kingdom.

Target Global is a private equity and venture capital firm based in Berlin, specializing in early-stage and growth investments across various sectors. With over €800 million in assets under management, the firm focuses on the digital consumer sector, particularly in disruptive technologies, fintech, e-commerce, and cyber security. Target Global typically invests between $1 million and $30 million in companies with enterprise values ranging from $5 million to $500 million, emphasizing businesses where a significant portion of revenue is generated from the B2C segment. The firm has a strong global presence, targeting opportunities in European Developed Markets, as well as in Israel, Russia, and the United States. Founded in 2012, Target Global has built a diverse portfolio that includes notable companies such as Auto1, Delivery Hero, and WeFox, and is supported by a team of over 50 professionals with extensive operational and investment expertise.

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.

Inovo Venture Partners is a venture capital firm focused on the CEE region with over €50m in AUM. We are proud to be recognized as the best VC investor in Poland by both the entrepreneurs (Golden Book of Venture Capital in Poland 2018 published by Startup Poland Foundation, and the investment industry (House of the Year - Venture Capital by Polish PE/VC Association. We are a group of investment and entrepreneurial professionals who so far invested and helped over 20 companies (both through the fund and as business angels). Our experience encompasses Rocket Internet, Booksy, Google, McKinsey, Rothschild, Penta, and Coca-Cola. Among our investments from the first fund, you will find Booksy, Brand24 (IPOed), Restaumatic, ECC Games (IPOed), and others. In the second one, we've been fortunate enough to support companies like Allset, Tidio, Infermedica, Spacelift, and Intiaro. We invest in high-growth tech companies at Seed & Series A stages, that are transforming their industries and support the ones who dare to fight to dominate their markets. Our expertise (and investment sweet spot) is in SaaS, marketplaces, ideally working together

Startup Wise Guys is a prominent early-stage investor based in Tallinn, Estonia, recognized as one of the leading venture capital funds in the Central and Eastern European (CEE) region and the Nordics. Since its inception in 2012, it has operated a renowned startup accelerator that has supported over 165 startups, primarily in sectors such as B2B SaaS, Fintech, and Cybersecurity. The intensive three-month program aims to validate, develop, and market products to business clients, benefiting from the guidance of more than 200 mentors. The accelerator culminates in Demo Days and attendance at major tech events, providing startups the opportunity to pitch to investors. With a startup survival and success rate exceeding 77%, the program has facilitated two major exits and fosters a robust alumni network of over 145 startups across more than 40 countries. Additionally, Startup Wise Guys manages specific funds targeting investments in various sectors, including technology and clean tech, with a focus on early-stage ventures.

Established in 1993, today Sistema is a large private investor operating in the real sector of the Russian economy. Sistema's investment portfolio comprises stakes in predominantly Russian companies from various sectors of economy, including telecommunications, utilities, retail, high tech, pulp and paper, pharmaceuticals, healthcare, railway transportation, agriculture, finance, mass media, tourism, etc. Sistema is the controlling shareholder in most of its portfolio companies. Sistema's competencies focus on improvement of the operational efficiency of acquired assets through restructuring and attracting industry partners to enhance expertise and reduce financial risks. Sistema's global depository receipts are listed under the symbol "SSA" on the London Stock Exchange (1 GDR is 20 ordinary shares) and the ordinary shares are listed under the symbol "AFKS" on the Moscow Exchange.

LAUNCHub Fund, established in 2012 and based in Sofia, Bulgaria, is a venture capital firm that focuses on seed and early-stage investments in digital startups throughout Southeastern Europe. With a total management capacity of €30 million, the fund primarily invests in sectors such as SaaS, enterprise software, health-tech, e-commerce, mobile, and IoT, although it is open to opportunities in other verticals as well. The typical investment size ranges from €300,000 to €700,000, with potential expansions up to €1.5 million per company. LAUNCHub Fund aims to support innovative ventures that are positioned to drive growth in the regional technology landscape.

Full Investment Portfolio: Long-term government bonds with an embedded option: 80.76% Middle-term government bonds denominated in foreign currency: 5.50% Short-term government bonds: 10.02% Long-term bonds issued by the State Mortgage Institution: 0.05% Premises: 0.86% Repossessed collateral: 0.79% Investment properties: 1.94% Assets held for sale: 0.07% Founded in 1992, PrivatBank is a commercial bank based in Ukraine. The firm offers range of banking services and products to their clients.

Fastlane Ventures is a Russian company focused on the development, launch and promotion of innovative internet businesses. Founded in 2010 by a team of experienced entrepreneurs with a track record of successful investments, the company has launched 20 internet start-ups to capitalize on the increasing demand for online services and growing appetite for investment in the Russian internet market by Western and Russian investors. The company has attracted more than $85 million from international investment funds. Key strategic investment partners of Fastlane Ventures are Direct Group, e.ventures and VTB Capital. Among the investors of the company also Intel Capital, Kinnevik, Mangrove Capital, ru-Net, UMJ Russia, and some others to launch companies across the online retail, travel, relationship, health and recruitment areas. The strategic focus of Fastlane Ventures is to target business-to-consumer niche markets with low levels of competition. The Company's aim is to anticipate the not yet satisfied needs of Russian customers. Fastlane Ventures acts as both an operational and investment partner at the same time. It is the sole Russian company that provides an initial seed investment in addition to having a hands-on operational role with its businesses through its team of high calibre professionals. To launch its business quickly and effectively, Fastlane Ventures has adopted proprietary solution called Fast 50, which enables a new venture to launch in just 50 days and ensures an efficient path between launch and exit. Fastlane Ventures has established a team of highly regarded professionals, who possess unique knowledge and expertise in management, entrepreneurship, e-commerce, business development, marketing and PR, investment generation, HR management, web design and much more. Once the new business venture is operating effectively, Fastlane Ventures helps its investment partners realize their investment return through the sale of the business to other strategic investors. This usually takes place approximately 2-3 years after the initial business launch. For more information about Fastlane Ventures and its portfolio companies, please visit http://fastlaneventures.ru/en/

Inventure Partners is a venture capital firm established in 2012 and based in Moscow, Russia. The firm specializes in early-stage investments in technology-driven startups, focusing on sectors such as online financial services, marketing, digital media, mobile technology, 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, primarily targeting businesses based in Russia, the United States, the CIS region, the United Kingdom, and both developed and emerging European markets. The firm aims for a five-year exit strategy, with the possibility of extending this period by an additional two years, and prefers to invest in companies that have the potential for an Initial Public Offering within two to three years. Inventure Partners seeks minority stakes and often takes a board seat in its portfolio companies, which include notable ventures like Gett and American Well.

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.

Gecad Ventures invests in start-up and expansion-phase hi-tech companies from CEE with meaningful prospects of scaling internationally, including verticals like Cybersecurity, Fintech, AI/ML, AR & VR, Transportation, IoT and Agritech. We are an early investor which provides value by building strong strategic relationships with the founding teams, while supporting them in achieving their business objectives. We invest between €1-7 million in equity and also share a wealth of resources with the objective of fast growth and a presence in international markets. Previously Gecad Group, Gecad Ventures history spans for over 20 years and includes notable exits to Microsoft, Francisco Partners, Naspers, Fitbit.

Credo Ventures is a venture capital firm based in Prague, specializing in early-stage investments, primarily targeting companies in Central and Eastern Europe, particularly the Czech Republic and Slovakia. Founded in 2009, the firm focuses on sectors such as information technology, software, Internet, mobile, and healthcare. Credo Ventures seeks to identify high-growth potential companies that possess international ambitions and the capability to execute their business plans. The firm typically invests between €0.1 million and €2.7 million per company, supporting their growth objectives, including expansion into global markets. By concentrating on innovative sectors, Credo Ventures aims to back promising startups and contribute to their development and success.

Private equity and venture capital fund, specializes in investments in telecom and Internet projects with investment volumes of US$ 2 to 5 million.

Winno Moscow, previously known as NumaMoscow, is a venture capital firm and accelerator based in Moscow, Russia. It focuses on both direct and indirect investments, emphasizing incubation, seed, startup, middle market, and recapitalization investments. The firm specializes in venture capital fund investments and primarily targets B2B startups across various sectors, including retail technology, fintech, edtech, HR technology, health technology, property technology, augmented and virtual reality, artificial intelligence, and media technology. Winno Moscow operates a six-month accelerator and growth program, offering seed funding of up to €25,000. The firm typically invests amounts ranging from $10,000 to $20,000 and aims to acquire a 10 percent equity stake in its portfolio companies. Its investment focus extends across Russia, the CIS, and Eastern Europe.

Techstars Central LLC, founded in 2006 and based in Boulder, Colorado, operates as a startup accelerator and venture capital firm focused on supporting early-stage technology-oriented companies. It specializes in a mentorship-driven accelerator program, selecting ten startups each summer to participate in a three-month incubation period, offering funding of $120,000 in exchange for equity. Techstars invests primarily in sectors such as fintech, artificial intelligence, blockchain, augmented reality, and IoT, while avoiding investments in medical devices, healthcare technology, and local service-oriented businesses. In addition to its primary accelerator, Techstars has various specialized programs, including those focused on music, retail, mobility, and social impact, with global reach extending to regions such as Africa, Asia, and Latin America. The firm prefers taking minority stakes, typically between six and ten percent, without seeking board representation or investor rights. Techstars has built a robust network of entrepreneurs, mentors, and corporate partners to foster innovation and growth within its portfolio, which includes over 1,000 companies with a significant collective market capitalization.

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.

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.

United Capital Partners is a private equity firm based in Moscow, specializing in growth stage investments in small and medium-sized enterprises within Russia and the Commonwealth of Independent States. Founded in 2006 by Ilya Sherbovich and partners, UCP manages assets exceeding three billion US dollars, focusing on key sectors such as oil and gas, consumer goods, financial services, infrastructure, IT, and engineering. The firm seeks to capitalize on opportunities through investments and may consider recapitalization or partial sales to strategic buyers. United Capital Partners aims to exit its investments typically via an IPO within three to five years, demonstrating a commitment to effective investment strategies even in volatile market conditions. With a team of around 60 specialists, UCP has established itself as one of the largest financial investment groups in Russia.

NCH Capital Inc. is a private equity and venture capital firm established in 1993 and headquartered in New York. The firm focuses on various investment strategies, including incubation, growth capital, and turnaround investments, particularly in emerging markets. NCH Capital specializes in sectors such as consumer products, financial services, real estate, and agribusiness, including agricultural land and related infrastructure. The firm primarily targets investments in Eastern Europe, including countries like Ukraine, Russia, and Romania, as well as in Brazil's public equity markets. NCH Capital typically seeks both control and minority stakes in its portfolio companies and prefers to take active roles, often securing board seats. With additional offices across Europe, Asia, and South America, NCH Capital aims to leverage local opportunities through its diverse investment strategies.

Da Vinci Capital Management Ltd. is a private equity and venture capital firm that specializes in growth capital and a variety of investment stages, including buyouts, startups, and turnarounds. Founded in 2007 and based in Guernsey with offices in Moscow and London, the firm focuses on investments in sectors such as fintech, business services, technology, artificial intelligence, and cybersecurity. Da Vinci Capital primarily targets companies in Russia, the Central and Eastern European region, and other emerging markets, with a typical investment range of $5 million to $100 million in enterprises valued between $100 million and $1 billion. The firm often seeks significant minority stakes or controlling interests, aiming for active involvement in mid-market buyouts or board representation in larger companies. Its investment horizon generally spans two to five years, with exit strategies that include sales to strategic investors, secondary sales, or initial public offerings. Da Vinci Capital manages approximately $400 million in discretionary and advisory assets and employs a team of professionals with extensive experience in investment management and private equity.

J.P. Morgan is a prominent player in the financial services industry, providing a wide range of solutions to clients in over 100 countries. With a rich history spanning more than 200 years, the firm prioritizes its clients' interests in all its operations. J.P. Morgan Asset Management stands out as a leading asset manager, catering to individuals, advisors, and institutions globally. The firm offers diverse investment strategies across various asset classes, bolstered by its substantial assets under management. Additionally, J.P. Morgan Ventures Energy Corporation specializes in commodity risk management solutions. The firm also manages several funds, including those focused on buyouts in the healthcare sector and opportunistic investments in infrastructure across multiple regions, including North America and Europe.

AVentures Capital is a venture capital firm based in Kyiv, Ukraine, founded in 1994. The firm focuses on early-stage investments in software technology sectors, including machine learning, big data, augmented reality, virtual reality, software-as-a-service, cloud services, enterprise solutions, web technologies, e-commerce, and mobile applications. It primarily targets Ukrainian-based companies and seeks to collaborate with entrepreneurs from Eastern Europe, particularly those building global businesses. AVentures Capital invests between $0.5 million and $10 million and utilizes personal capital for its investments. The firm also engages in fund of fund and secondary indirect investments, aiming to diversify its portfolio across various ventures, including consumer internet and B2B segments. Additionally, it has an office in San Francisco, California, and emphasizes co-investment opportunities with other investors.

Imperious Group is a venture capital firm specializing in pre-seed, seed stage and Series A stage investments in the Fintech sector. The firm seeks to invest in areas such as advertising (AdTech), e-commerce, SaaS, mobile-products, online education, big data, and financial services. It also invest in the products aimed at the corporate sector (B2B), as well as a mass market (B2C). The firm prefers to invest in Ukraine, Russia and neighboring countries as well as Eastern Europe, Asia, Israel, Canada and the USA. It typically invests between $50,000 and $1 million in its portfolio companies having enterprise value between $0.5 million and 5 million. The firm prefers to take 10 percent to 15 percent stake. The firm takes its owner's personal capital. Imperious Group was founded in 2012 and is based in the Russian Federation.