Internet Initiatives Development Fund is a Moscow-based venture capital firm and accelerator that supports early-stage technology startups in Russia. It provides financial and mentorship support to pre-seed through Series A companies, with investments typically ranging from several million to a few hundred million rubles, and has backed hundreds of startups. The organization runs an acceleration program across Russia and aims to attract investment and improve transparency and cooperation among entrepreneurs, investors, and state agencies. Its portfolio spans a broad range of tech sectors, including software, fintech, artificial intelligence, big data, cybersecurity, Internet of Things, education technology, healthtech, adtech, SaaS, and other internet-enabled industries.

Russian Ventures is a venture capital firm headquartered in Moscow, Russia. Founded in 2008, it focused on investing in internet and technology companies across Russia.

The EBRD is an international financial institution founded in 1990 and headquartered in London that provides project financing and advisory services to support private sector development and transformation in emerging markets. It finances banks, industries, and businesses, supports new ventures and investments in existing companies, and helps privatize and restructure municipal services in publicly owned entities. Through its banking and treasury activities, it offers loans, equity and quasi-equity investments, guarantees, and equity funds for smaller enterprises, along with trade finance and loan syndication. It works with commercial partners to invest in private enterprises across sectors including energy, manufacturing, ICT, infrastructure, agribusiness, and real estate, across Europe, the Middle East and beyond, including a significant footprint in Central and Eastern Europe, the Baltics, and the Caucasus. It provides policy reform dialogue and advisory services to support market modernization, governance, and reform. It has invested over €130 billion in more than 5,000 projects.

AYR Capital is an independent private equity, venture capital and financial advisory firm focused on investments in Europe, Russia and the CIS, with activity in real estate, fast-moving consumer goods, oil and gas, energy, information technology and manufacturing. The firm also provides debt financing for growth opportunities and offers financial advisory services. Founded in 2014 and based in Moscow, AYR Capital pursues growth-oriented opportunities across CIS, Eastern and Western Europe and the United States, combining a disciplined risk management approach with a focus on value creation and strong relationships with investors and portfolio companies.

Starta Accelerator is a technology startup accelerator headquartered in New York, operating as part of Starta Ventures. It specializes in early-stage programs for European-origin and Eastern European founders seeking to enter the United States market. The accelerator runs a 14-week program complemented by a 3.5-month mentorship track, designed to help participants define product-market fit, gain traction, and integrate into the local startup and investing ecosystem. It provides an investment of about 130,000, including 110,000 in program services and 20,000 in cash, in exchange for 7 percent equity, plus an additional 20,000 of potential follow-on support for high-performing startups. The program emphasizes technology startups with European R&D roots and aims to bridge cultural and business practice gaps to enable startups to scale in the US. Starta Accelerator operates as a subsidiary of Starta Ventures and has a broader network that includes venture funds and education initiatives.

Established by Moscow's Department of Entrepreneurship and Innovation Policy, this fund promotes venture investment in small enterprises with a focus on scientific and technical spheres.

The Untitled is a venture capital firm that funds seed to growth-stage technology and digital-media ventures, with a focus on Russia and Eastern Europe. It makes direct equity or debt investments and operates multiple programs, including seed investments of roughly 0.08–0.15 million USD, club investments of 0.05–0.5 million, money program 0.08–0.15 million or loans up to 0.8 million, and growth-stage rounds of 1–3 million USD for Series A. The firm typically targets companies with a finished product or working prototype and measurable traction, across sectors such as retail technology, advertising, and consumer platforms in the region. Founded in 2011, the firm is described as headquartered in Riga with additional offices in Moscow and London.

Ruvento Ventures is a Singapore-based venture capital and incubation firm that backs technology startups and early-stage ventures. It focuses on AI, machine learning, Internet of Things, robotics, bioengineering, cleantech, hardware and other disruptive technologies, with a global reach and a regional emphasis on Southeast Asia and markets in CIS to bring products to Asia. The firm pursues direct investments and incubation programs, including seed and early-stage rounds, and participates in fund-of-funds opportunities. In its Singapore incubation program it provides staged financing: up to USD 0.04 million in the proof-of-concept stage and up to USD 0.16 million in the commercial stage. Direct investments are up to USD 0.5 million, with potential syndication for the right deals up to USD 3 million. Ruvento Ventures operates from Singapore with additional offices in San Francisco and Shanghai, supporting portfolio companies from concept to market.

Startup Lab is a Moscow-based venture capital firm and accelerator founded in 2018. It focuses on pre-seed, seed, and early-stage investments, primarily in Russia, the CIS and Eastern Europe, with a typical early-stage investment ceiling of about 3.5 million rubles. Beyond capital, Startup Lab provides portfolio companies with networks, support to scale sales channels, optimize business models and internal processes, and guidance toward international market entry, including exposure to sectors such as pharma and retail.

Impulse VC is a Moscow-based venture capital firm established in 2013. It funds and supports early-stage technology companies, focusing on seed to Series A investments in B2B software and SaaS, proptech, adtech, marketing technology, marketplaces, software, and gaming. The firm provides both capital and operational guidance to portfolio companies and conducts activities with international reach across the United States, United Kingdom, and Russia.

Ambient Sound Investments is a Tallinn, Estonia-based family office and private investment vehicle founded in 2003 by four engineers from Skype. It provides investment management and holds minority stakes in ventures through direct investments and fund-of-funds, focusing on private equity and venture capital across incubation, seed, early-stage, growth, and PIPEs, as well as selective investments in real assets. The firm typically pursues minority positions around 25 percent, with larger stakes in incubators, and pursues co-investments and occasional entries into public equity. Its portfolio concentrates on information technology, software, web, social media, and research and development companies, with a geographic focus on the United States, Europe and Asia, including Eastern Europe and countries such as Russia, Lithuania, Denmark, Finland, France, Iceland, Norway, Sweden and the United Kingdom. Investment sizes range roughly from half a million to two million euros, and capital is deployed from personal capital and balance sheet sources. The organization originated to hold a minority Skype stake and now operates as a private investment vehicle.

Inventure Partners is a venture capital firm founded in 2012 and based in Moscow that backs technology startups across seed to late-stage rounds. It focuses on online financial services, technology, marketing, digital media, mobile, internet software, B2B, e-commerce and telecommunications, and typically invests between 0.5 million and 5 million with target enterprise values of 1 to 50 million. The firm pursues global opportunities, backing companies in Russia, the CIS, the United Kingdom, the United States and other European markets. It generally seeks minority stakes and board representation, aiming for exits in about five years, with possible extension. Portfolio examples include Gett, American Well and Busfor, illustrating a preference for disruptive, scalable tech businesses addressing real market needs. The firm emphasizes partnering with teams that adopt novel business models to tackle genuine challenges and reduce market inefficiencies.

Skolkovo Ventures is a Moscow-based venture capital and private equity firm that provides seed and growth capital to technology companies. It targets startups in the internet of things, fintech, virtual reality and augmented reality, robotics, unmanned technologies, intelligent power engineering, predictive analytics, artificial intelligence and big data, cybersecurity, digital technology in agriculture, additive manufacturing and new materials, and innovative food products. The firm typically invests between RUB 100 million and RUB 200 million per project (approximately USD 1.5–3.0 million). Founded in 2017, Skolkovo Ventures supports early- to growth-stage technology companies in Russia with a focus on scalable, innovative ventures.

AVentures Capital is a Kyiv-based venture capital firm that concentrates on early-stage investments in Ukrainian and broader Eastern European technology companies. Founded in 1994, it seeks to partner with entrepreneurs building global software-enabled businesses across cloud, storage, enterprise software, web and mobile, e-commerce, Internet of Things, and related software tech sectors. The firm emphasizes opportunities in machine learning, big data, augmented and virtual reality, SaaS, and scalable digital platforms, with a preference for companies that can reach developed markets such as the United States and Western Europe. AVentures Capital engages in direct investments across incubation, seed, startup, and early growth rounds, and pursues co-investments and strategic allocations in venture funds. With offices spanning Eastern Europe and Silicon Valley, the firm collaborates closely with management teams to support product development, go-to-market strategy, and international expansion, aiming to help portfolio companies scale globally.

Elbrus Capital Investment Adviser is a venture capital and private equity firm that focuses on early‑stage, middle‑market, and growth‑capital opportunities. It targets small and medium‑sized companies in Russia and the Commonwealth of Independent States, especially those with a strong regional presence beyond Moscow and St. Petersburg. The firm invests between $30 million and $100 million in businesses valued $50 million to $100 million, seeking significant minority or controlling stakes. Its portfolio spans digital services, consumer and business internet, changing consumer patterns, consumer goods and services, outsourcing, logistics, natural‑resource optimization, healthcare, and education. Elbrus Capital typically holds investments for three to seven years and is headquartered in Moscow.

VEB Ventures is a Moscow-based venture capital firm associated with Vnesheconombank. It was established to invest in high-technology projects linked to Russia’s Skolkovo Foundation and to support the government’s innovation programs. The firm has focused on funding companies in medical technology, biotechnology, and clean technology within Russia, aiming to build innovation infrastructure, facilitate technology transfer, and promote Russian innovations globally.

Primer Capital is a Moscow-based venture capital firm focused on early-stage investments in biotechnology, pharmaceuticals and related medical technologies. The firm backs projects across oncology, cardiology, rheumatology, surgery, medical devices and both branded and generic therapeutics. It pursues opportunities in Russia, Israel, Europe and the United States, with early equity investments typically ranging from 0.2 to 0.5 million dollars and a willingness to co-invest with other funds and investors. Primer Capital leverages a team of experienced professionals and a scientific advisory board to assist in project selection and development, and collaborates with venture funds, business angels, government agencies and medical institutions to support portfolio companies through fundraising and strategic partnerships.

Bright Capital is a venture capital firm with a merchant venturing approach and a global reach. It invests in a broad range of breakthrough and disruptive technologies, including energy, cleantech, efficiency, water, and advanced materials, and also backs the telecom-media-technology sector through its Digital fund. The firm operates across multiple stages, from early to late and growth equity, maintaining a diversified global portfolio.

Prostor Capital is a Moscow-based venture capital firm established in 2011 by private investors, with co-founders including Leonid Reiman and Sergey Merkulov. It concentrates on profitable investments in Russian information technology and Internet companies at the stable growth stage (round A and above) with ready products and rapidly growing user bases. The firm targets tech-enabled companies with significant local or international sales potential, particularly in financial and advertising services, cloud technologies, innovative education, and digital medicine. The management team comprises Sergey Merkulov as managing partner, Alexey Solovyov as managing director, and Stanislav Kosorukov as investment director, who oversee strategy, operations, and deal evaluation. Prostor Capital has been recognized among leading Russian venture investors and maintains a portfolio of technology-driven companies.

Almaz Capital is an international venture capital firm investing in early-stage, capital-efficient technology companies. Headquartered in Silicon Valley, it serves as a bridge between Eastern European and former Soviet engineering talent and the U.S. market to help build global businesses. The firm targets high-growth sectors such as artificial intelligence, blockchain, data engineering, cybersecurity, industrial Internet of Things, and networking infrastructure. Its investors include Cisco, the European Bank for Reconstruction and Development, and the International Finance Corporation. Founded in 2008, Almaz Capital has backed more than 30 portfolio companies and nine exits to date.

Sistema SmartTech is the corporate venture arm of Sistema, based in Moscow, Russia. Founded in 2020, it invests in early-stage Russian technology companies and focuses on high-technology sectors such as digital products and services, transport, IT in medicine, biotechnology, and artificial intelligence, as well as education, logistics, and digital solutions in industry.

New Industry Ventures is a Moscow-based venture capital firm established by Gazprom Neft, Gazprombank, Russian Venture Company and VEB Innovations. It invests in technology startups operating in oil and gas, petrochemicals, energy, logistics, new materials and alternative energy. The firm focuses on technologies for exploration, production, processing, transportation and storage of hydrocarbons, as well as energy transmission and industrial infrastructure. It also backs digital products and Industry 4.0 solutions, resource and energy-saving technologies, and innovative projects that advance the Russian oil, gas and energy sectors and related industries.

Flint Capital is an international venture capital firm founded in 2013 and headquartered in Boston, Massachusetts. It backs early-stage technology companies across the United States, Europe, and Israel, with additional activity in Western Europe and Eastern Europe. The firm operates a cross-border approach, supporting Israeli and European ventures as they expand into the US market, and maintains offices in Palo Alto and Tel Aviv. Flint Capital targets a range of sectors including enterprise software, fintech, cybersecurity, health technologies, artificial intelligence, automation, consumer mobile applications, and marketplaces. Typical investments span from about 0.5 million to 10 million per company, covering seed to early growth rounds. The firm emphasizes a broad network of entrepreneurs and industry experts to source high-quality opportunities and help portfolio companies scale internationally.

Vesna Investment is a venture capital firm based in Moscow, Russia. Established in 2011, it provides financing to internet startups and seeks investments across information technology, telecom, consumer services, retail, education technology, mobile and consumer applications, communications and networking, data storage and management, internet infrastructure and services, and media sectors. After investment, Vesna Investment acts as an active partner, offering support and expertise to portfolio companies.

Mint Capital is a Moscow-based private equity firm founded in 2000. The firm has historically pursued early-stage and growth investments in Russia, with sector experience in business services, logistics, distribution and IT services.

ICU Ventures is the venture investment arm of ICU Group. Based in Kyiv, Ukraine, it was founded in 2006 and focuses on early‑stage technology companies with Eastern European roots. The firm invests across fintech, deep tech, mobility, and enterprise software, and also engages with opportunities in gaming and gambling. ICU Ventures provides capital, strategic support, and access to a broad network to help portfolio companies scale internationally.

S-Group Capital Management was a Moscow-based private investment firm that specialized in late-stage venture, mature and growth capital investments across information technology, clean energy and new energy solutions, material sciences, biotechnology, and tourism and leisure. The firm is no longer investing.

PIKvc is a venture capital firm focused on supporting early-stage founders and their teams. It aims to build a community, take thoroughly calculated risks, and care for its companies throughout their entire lifecycle.

FunCubator is the corporate venture arm of FunCorp, based in Limassol, Cyprus. Founded in 2017, it makes strategic investments in technology and digital entertainment, with a focus on communications services, software, augmented reality, virtual reality, artificial intelligence, and eSports in Eastern Europe.

Acrobator Ventures is a venture capital firm based in Amsterdam, with activity in Kyiv and Tbilisi, that backs early-stage to growth-stage technology companies. The firm focuses on B2B and B2C software, artificial intelligence and machine learning, fintech, infrastructure, data, cybersecurity, and related sectors, often seeking to connect Eastern founders with Western markets such as the United States. It emphasizes support through founders networks, data access, and market reach, and pursues opportunities across Western and Eastern Europe, the United States, and CIS regions.

Tiger Global Management is an investment firm founded in 2001 by Charles (Chase) Coleman. It allocates capital across public and private markets worldwide, with a focus on technology-enabled growth opportunities. The firm pursues public equity strategies, including long/short and growth investments, and private equity across early- to late-stage companies in multiple industries, seeking high-quality growth opportunities and guiding portfolio companies through their lifecycle.

Underline Ventures is a venture capital firm based in Bucharest, Romania, founded in 2022. It backs startups across seed, early, and growth stages with a focus on Eastern Europe. The firm seeks opportunities in information technology, big data, e-commerce, the Internet of Things, software as a service, and telecommunications, media, and technology sectors. It partners with Eastern European founders pursuing global ambitions, providing capital at early stages (with typical checks around €500,000) and supporting portfolio companies as they scale. By combining seed-stage funding with hands-on support and access to a network of co-investors, Underline Ventures aims to help high-growth startups accelerate product development, market entry, and expansion across the region and beyond.

Global Finance is an independent investment firm founded in 1991 in Athens, Greece, and has been a pioneer of private equity and venture capital in Southeast Europe. Its operations include private equity fund management, real estate development, and advisory services, with equity investments in mid-market companies across sectors such as manufacturing, information technology, specialty retail, media and entertainment, healthcare, telecommunications, and services. The firm concentrates on opportunities in Greece and neighboring Southeast European markets and maintains a regional footprint with offices and activity in Sofia, Belgrade, Bucharest, and London. Typical investments are up to €40 million in Greece and up to €15 million for Eastern European ventures. Exit options include trade sales, initial public offerings, management buybacks, and sales to other investors. Global Finance aims to create value for investors and dynamic companies by supporting growth and improving operational performance in Southeast Europe.

RUSNANO is a Russian company founded in 2007 and based in Moscow that focuses on commercializing nanotechnology developments. It invests in high-tech and nanotechnology projects, seeking to create or modernize production facilities in Russia and to support the development of technologies across sectors such as semiconductors, optics, energy, biomedicine, and advanced materials. The firm pursues direct investments as well as fund-based investments and maintains an international footprint with offices in Menlo Park and Herzliya Pituach and a U.S. subsidiary, enabling collaboration with North American and global partners.

Fastlane Ventures is a venture capital firm founded in 2010 that focuses on developing, launching and promoting internet startups. It combines seed investing with hands-on operational involvement to help portfolio companies grow rapidly, particularly in consumer internet segments such as online retail, travel, relationship, health and recruitment. The firm provides strategic guidance, resources and governance support, aiming to move ventures from concept to launch quickly and toward exit within a few years. It collaborates with international investors to fund its portfolio and helps portfolio companies scale through hands-on execution and network access.

Revo Capital is a venture capital firm founded in 2013 and based in Istanbul, with additional offices in Tallinn and Amsterdam. It invests in early- and growth-stage technology companies across Turkey, Eastern Europe, and the Baltics, focusing on sectors including SaaS, enterprise software, AI and machine learning, big data, fintech, healthtech, cybersecurity, cloud solutions, marketing technology, e-commerce, energy, gaming, and related areas. The firm supports B2B, B2C and C2C business models and collaborates across regional networks to back companies from seed to growth stages.

AltaIR Capital is a San Francisco-based venture capital firm that invests in early and growth-stage startups across a range of sectors. The firm focuses on companies with disruptive ideas and strong growth potential, including productivity tools, future of work, software as a service, fintech, insurtech, artificial intelligence, and digital health. Its portfolio features key players in the startup ecosystem, including top incubator graduates and promising teams.

Swedfund is a government development finance institution based in Stockholm, with an office in Nairobi, established in 1979. It mobilizes capital and expertise for investments in private markets across Africa, Asia, Latin America and Eastern Europe, including direct investments and fund of funds activities. It finances a range of instruments, from equity to loans and other debt-like structures, and supports knowledge transfer and equipment upgrades, including depreciation loans to Swedish small and medium-sized enterprises. It pursues minority investments, typically in the range of 5 to 100 million SEK, with board seats and participation in investment committees, and aims for exits in five to ten years. It operates as a bilateral development financier within the European Development Finance Institutions network.

e2vc is a venture capital firm founded in 2015 and based in Amsterdam. The firm focuses on early-stage investments in European companies, with a regional remit centered on emerging Europe and a pipeline that connects Eastern Europe to the United States. It backs emerging European founders at the earliest stages and supports immigrant founders from emerging Europe in key markets such as San Francisco, New York, London and Berlin.

PortfoLion Capital Partners is the corporate venture capital arm of OTP Bank, based in Budapest, Hungary, and focused on Central and Eastern Europe. It operates as a venture capital and growth equity investor, backing B2B and B2C technology-enabled companies from pre-seed to Series B, with a flexible fund approach. The firm targets a wide range of sectors, including information technology, fintech, healthcare, artificial intelligence, big data, e-commerce, ad tech, and life sciences, with portfolio companies across the Eastern Europe region. It has supported notable startups such as SEON, Novakid, Tresorit, Packhelp, and Starschema, reflecting its role in nurturing regional tech scaleups. PortfoLion manages about EUR 440 million in assets under management.

Founded in 2022, Caucasus Ventures is a venture capital firm based in Baku, Azerbaijan. It focuses on investing in pre-seed technology startups across the Caucasus region, Turkey, Eastern Europe, and Central Asia.

Established in 2018, BergTop VC is a venture capital firm headquartered in Luxembourg. It focuses on investing in early-stage, rapidly scalable B2B and B2B2C companies across Eastern Europe.

SmartWare.tech is a venture capital investor based in Hungary that specializes in hardware and IoT in the CEE region. Founded in 2016, it focuses on early-stage funding and support for hardware-enabled startups, providing pre-seed investments and hands-on help with MVPs, prototyping, customer development, business-model design, and fundraising readiness. Its approach combines investment with prototyping expertise, access to equipment, and business development support to help portfolio companies move from concept to market. The firm operates with backing from partner companies that supply resources, prototyping capabilities, and a broad professional network across multiple sites to support long-term growth. The emphasis areas include mobility, Industry 4.0, medical technologies, and broader hardware and IoT sectors across Eastern and Western Europe.

New Europe Ventures is a boutique venture capital firm founded in 2007 that concentrates on early-stage technology companies in Eastern Europe, including Poland. The firm targets sectors such as high technology, telecommunications, mobile services, internet and media, technology-based B2B services, medical devices, and nanotechnology. Profiles describe the firm as US-based or New York–based, reflecting cross-border activity, with a focus on seed and early-stage investments in the region.

ExtraVallis is a seed-stage global funding platform that connects investors with startups. Headquartered in Rancho Santa Fe, California, it provides global exposure and de-risked investment opportunities for startups, investors and partners, and supports early-stage technology companies with mentoring on leadership, market expansion, revenue models and team building. The company maintains a reliable pipeline of startups through standardized real-time data and established connections across Germany, Eastern and Central Europe and Scandinavia.

Change Ventures is a Tallinn-based venture capital firm founded in 2016 that focuses on technology companies, with a preference for B2B and SaaS businesses in Eastern Europe. It backs early-stage companies in Estonia, Latvia, Lithuania, and Baltic diaspora entrepreneurs building elsewhere, with typical checks ranging from around €100,000 to €750,000. The firm supports portfolio companies to reach product-market fit, raise subsequent rounds, and scale, leveraging a network of follow-on investors and partners.

Purple Ventures is a venture capital firm based in Brno, Czech Republic, founded in 2017, focusing on early-stage, purpose-driven technology startups with initial revenue and global ambitions, primarily supporting European companies including those in Germany and Eastern Europe, targeting software, edtech, e-commerce, and SaaS ventures and providing seed-to-early-stage capital to help startups scale internationally.

Founded in 2017, SmartGateVC is a venture capital firm specializing in seed investments for tech companies focused on artificial intelligence, cybersecurity, internet of things, and emerging computational biotech. Based primarily in California with additional reach into Massachusetts, NYC, Armenia, and wider Eastern Europe, the firm typically invests up to $0.1 million at the seed stage.

57 Stars is an independent asset manager and private equity and venture capital firm that pursues direct and fund-of-funds investments, including mezzanine opportunities. It focuses on investments outside the United States, particularly in emerging markets, and targets primary and secondary private equity partnerships as well as co-investments in select markets. The geographic scope includes India, China, Japan, Turkey, Africa, the Middle East, Australia, Eastern Europe, Israel, Brazil, and other regions across Latin America, pan-Africa, and pan-Asia. The firm typically makes investments ranging from $15 million to $50 million. Founded in 2005, 57 Stars is based in Washington, D.C., with additional offices in Singapore, Hong Kong, Munich, São Paulo, and San Diego.

Lemonade Stand is a venture capital firm based in Tallinn, Estonia, that concentrates on early-stage B2B technology investments. The firm targets founders from the Baltic and Eastern European regions and provides capital typically in the €25,000–€300,000 range to support teams, technology development, or early traction.