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

Internet Initiatives Development Fund is a Moscow-based venture capital firm founded in 2013 that supports early-stage technology startups across Russia and international markets, including the United States, Europe and Asia. The firm focuses on a broad range of sectors such as retail, virtual and augmented reality, cybersecurity, education technology, internet of things and hardware, digital health, agricultural technology, fintech, artificial intelligence and big data, software as a service and other corporate software, adtech, manufacturing, and blockchain. It also runs an acceleration program across Russia to help portfolio companies scale. Investment sizes typically range from RUB 2.1 million to RUB 324 million.

Russian Ventures, founded in 2008, is a venture capital firm based in Moscow, Russia. It focuses on investments in internet and technology companies across Russia.

Established in 2011, the Russian Direct Investment Fund is a sovereign wealth fund based in Moscow. With a reserved capital of $10 billion, it co-invests alongside global investors to facilitate direct investments in leading and promising Russian companies across various sectors.

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

The Untitled is a venture capital firm founded in 2011 that funds seed through growth-stage technology companies. It invests directly into company equity or loans and seeks projects with a finished product or working prototype and proven metrics at or near payback. The firm focuses on digital technologies, retail and marketplace platforms, advertising, and new retail formats, with activity across Eastern Europe and Russia as well as expanding presence in Western Europe. Its footprint includes headquarters in Riga, Latvia, with offices in Moscow and London, and it operates multiple investment programs that tailor capital to the stage, ranging from seed rounds to larger growth rounds while typically taking minority stakes. By supporting cross-border market entry and international scaling, The Untitled aims to back teams with clear traction and scalable business models.

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.

Ruvento Ventures is a Singapore-based venture capital and incubation firm that supports technology startups across early stages, including incubation and seed rounds. It focuses on AI, machine learning, Internet of Things, robotics, hardware, cleantech, and other disruptive technologies, as well as enabling technologies for web and mobile and sectors such as medical devices and data analytics. The firm pursues global investments with a regional tilt toward Southeast Asia and CIS markets, aiming to bring products to Asian markets including China, India, and Indonesia. Typical commitments range from tens of thousands to several hundred thousand dollars per project, with direct investments up to about 0.5 million and potential syndication to around 3 million. In its Singapore incubation program, it provides staged financing in two rounds: a proof-of-concept portion and a subsequent commercial-stage portion, totaling up to about 0.2 million. Ruvento operates from Singapore with additional offices in San Francisco and Shanghai, reflecting a global reach while maintaining a regional focus on Asia.

Established by Vnesheconombank in 2011, VEB Ventures focuses on investing in high-tech projects aligned with Russian government innovation programs. Its strategic goals include supporting domestic innovation infrastructure, facilitating advanced technology transfers, and promoting Russian innovations globally.

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

Established in 2008, Softline Venture Partners is a corporate venture fund that invests across various technologies such as Edtech, HRTech, Cybersecurity, Cloud Services, Big Data, Artificial Intelligence, and Internet of Things. The firm has invested approximately US$35 million in over 20 portfolio companies, with investments ranging from $300 thousand to $3 million per project.

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

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.

Founded in Russia in 2016, TealTech Capital is a venture capital firm that invests in innovative startups with a focus on modern management practices and platform solutions. It supports projects across various sectors including medicine, health, education, retail, robotics, and agriculture.

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

Skolkovo Foundation is a non-profit organization based in Moscow, Russia, established in 2010 to support startups and venture activity in five priority sectors: energy efficiency, strategic computer technologies, biomedicine, nuclear technologies, and space technologies. It develops and coordinates focused clusters and programs to advance innovations in information technologies, biomedical technologies, energy efficiency, and space and nuclear applications. The foundation oversees and coordinates activities at the Skolkovo Innovation Center, Technopark, Skolkovo Institute of Technology (Skoltech), and Skolkovo city to foster collaboration among startups, research institutions, and industry. It facilitates partnerships with global companies for research and development and aims to accelerate the commercialization of new products and technologies in its target domains. Established in 2010 and based in Moscow, the foundation focuses on driving technological progress and economic diversification through a coordinated ecosystem around its core clusters.

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

Inventure Partners is a Moscow-based venture capital firm founded in 2012 that provides equity backing to technology startups across seed through late stages. It targets online financial services, technology, marketing, digital media, mobile, internet software, B2B, and telecommunications, and invests in companies across Russia, the United States, the CIS, the United Kingdom, and other European markets. Typical commitments range from 0.5 million to 5 million dollars for enterprises valued between 1 and 50 million dollars. The firm usually takes a minority stake and a board seat, with an expected exit horizon of about five years, extendable by up to two years. It prefers opportunities with potential for an initial public offering within two to three years. Portfolio examples include Gett, American Well, and Busfor, illustrating involvement in on-demand services, telehealth, and transportation platforms.

X5 Retail Group is Russia's leading product retail company, operating under the brands Pyatorochka, Perekrestok, and Carousel. As of March 2020, it managed 16,658 stores nationwide, with a strong presence in Moscow, St. Petersburg, and European Russia.

Founded in 2019, Vershina Capital is a venture capital firm based in Nicosia, Cyprus. It invests in early-stage startups operating in innovative business models and growing markets, with a focus on online education (edtech), food technology (foodtech), e-commerce, and software as a service (SaaS) sectors.

European Bank for Reconstruction and Development finances projects and provides advisory services to the public and private sectors. It supports new ventures and expansion in existing companies through project financing, loans, and equity or quasi-equity investments, including equity funds and guarantees, and it partners with private entities to invest across sectors such as banking, energy, manufacturing, infrastructure, information technology, and services. The bank also helps publicly owned entities privatize and restructure municipal services and engages in policy reform dialogue and advisory services, along with trade finance and loan syndication. Founded in 1990 and headquartered in London, it operates across regions including Southeastern and Central Europe, the Baltic States, Eastern Europe and the Caucasus, Central Asia, and parts of the Middle East and Africa, aiming to foster market-oriented change and private sector development by mobilizing capital for sustainable investments. It has invested more than €130 billion in over 5,200 projects.

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

UFG Private Equity, established in 2005 and headquartered in Moscow, is a private equity firm focusing on growth capital and buyout investments in small to mid-sized companies across Russia and the CIS. It primarily targets companies in the financial services, healthcare, technology, consumer goods, and logistics sectors, with a specific focus on the Russian Federation, Ukraine, Belarus, and Kazakhstan. UFG typically invests between $15 million and $75 million, seeking a majority stake and aiming for a three to five-year exit. It also offers co-investment opportunities for larger deals.

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

Russian Venture Company is a state-owned investment organization based in Moscow, established in 2006. It functions as a fund of funds, investing in venture funds that back Russian technology companies and supporting the growth of innovative startups with high growth potential. Its activities focus on strengthening the Russian venture ecosystem and promoting opportunities in both domestic and international IT markets.

Established in 2008, VTB Capital is a Moscow-based investment banking firm offering a comprehensive range of services including trading operations, debt and equity placements, mergers and acquisitions, consulting, private equity, asset management, foreign exchange products, hedging strategies, global commodities, and industry-specific solutions for clients across various sectors.

Sistema SmartTech is an investment firm founded in 2020 and based in Moscow, Russia. As the corporate venture arm of Sistema, it specializes in early-stage investments in innovative Russian companies. The firm concentrates on high technology projects across various sectors, including IT in medicine, education, logistics, biotechnology, and artificial intelligence. Sistema SmartTech aims to support the development of digital solutions and products that enhance efficiency and effectiveness in these industries.

Bright Capital, established in 2010, is a global venture capital firm that invests in innovative, disruptive technology companies across various stages, from early to late-stage ventures and growth equity. With a unique merchant venturing approach, the firm has built a diverse portfolio spanning sectors such as energy, cleantech, efficiency, water, advanced materials, and TMT (telecom, media, technology).

Founded in 2016, Cabra.VC is a venture capital firm based in Limassol, Cyprus with additional offices in Moscow and Riga. It specializes in direct investments across growth stages, focusing on consumer, enterprise, technology, and software sectors, particularly SaaS, B2B, and subscription-based business models. The firm considers investments in India and the United States.

Kaspersky Lab is a global cybersecurity company renowned for its innovative products and technologies, including endpoint protection and threat management solutions. Headquartered in Moscow, Russia, with 30 regional offices worldwide, Kaspersky Lab is recognized as one of the largest privately held vendors of endpoint protection solutions. The company serves a diverse clientele, including consumers, small to medium-sized businesses, and large enterprises, offering comprehensive security services to combat sophisticated digital threats. Its advanced antivirus and internet security software are designed to protect various network types and sizes, safeguarding workstations, servers, and mobile devices from cyber attacks and malware. Co-founded by Eugene Kaspersky and Natalia Kaspersky in 1997, the firm employs over 2,500 personnel, including a significant number of research and development specialists, and provides security for more than 300 million users globally.

Lenta, established in 1993 and headquartered in Saint Petersburg, Russia, is one of the country's largest retail chains and the second-largest hypermarket chain. As of 2019, it operates 249 hypermarkets across 88 cities and 131 supermarkets in major regions, totaling approximately 1.2 million square meters of selling space. Lenta's stores, averaging 6,400 square meters, focus on a price-led hypermarket and supermarket format. The company employs around 27,800 people and serves over 5.3 million active loyalty cardholders, with approximately 90% of sales tied to the loyalty program. Lenta's product range includes household goods, daily necessities, food, and drinks, generating revenue through direct consumer sales. It supports its retail operations with four hypermarket and one supermarket distribution centers.

Svarog Capital Advisors is a prominent private equity firm based in Moscow, Russia, with a strong focus on investments across various sectors, including retail, fast-moving consumer goods, transport and logistics, telecommunications, financial services, IT and software, media, biotechnology, and alternative energy. Established in 2003 as the private equity arm of the Renova Group, the firm underwent a management buy-out in 2007, leading to its current name. With over $500 million in capital under management, Svarog Capital Advisors aims to provide equity financing to industry-leading companies that demonstrate exceptional growth potential and the capacity to deliver superior returns. The firm’s investment strategy emphasizes fostering growth through market expansion, geographic diversification, and the consolidation of fragmented markets, having successfully invested in 13 companies with an aggregate transaction value exceeding $460 million since its inception.

Prof-Media, founded in 1997, is the largest diversified media holding in Russia. It plays a significant role as a private investor in various sectors of the Russian media market. The company operates a national chain of multiplexes under the Cinema Park brand and holds a controlling stake in Central Partnership, a leading content production and distribution company. Prof-Media's television segment includes the national TV-network TV3, the entertainment and family-oriented channel 2x2, and musical channels MTV Russia and VH1 Russia. The company is also a major player in the radio industry, operating several FM stations, including Avtoradio, Energy, Humor FM, and Radio Alla. In print media, it owns the magazine publishing house Afisha, which produces various titles, including Afisha magazine and guidebooks. Additionally, Prof-Media's internet presence is highlighted by Rambler Media and Afisha.ru, the latter being Russia's leading entertainment portal. The company's diverse portfolio underscores its significant influence across multiple media platforms in the Russian market.

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

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

Founded in 1989, LANIT is Russia's leading IT group, offering a comprehensive range of IT services. As Russia's largest system integrator, it partners with over 250 global IT vendors and serves major clients across industries such as banking, oil & gas, manufacturing, and government.

Laminam SpA is an Italian manufacturer specializing in large-sized ceramic surfaces designed for various applications in architecture and interior design. Founded in 2001 and headquartered in Fiorano Modenese, the company produces a diverse range of products, including architectural surfaces and materials for flooring, wall tiling, and furniture. Its product offerings encompass several lines such as BLEND, CALCE, and LEGNO VENEZIA, catering to both indoor and outdoor settings. Laminam also provides consulting services for architectural design, focusing on interior spaces and building envelopes. The company operates additional locations in Milan and Moscow, along with a factory in Borgo Val di Taro, enhancing its presence in the market and facilitating its commitment to quality and innovation.

AYR Capital is an independent private equity and venture capital firm established in 2014 and based in Moscow, Russia. The firm primarily focuses on investments across Eastern and Western Europe, including Russia and the CIS, targeting sectors such as real estate, fast-moving consumer goods, oil and gas, energy, information technology, and manufacturing. AYR Capital also offers financial advisory services and provides debt financing to companies and projects with growth potential. With years of experience and a proven track record, AYR Capital emphasizes a unified approach to risk management and income generation. The firm places significant importance on building strong relationships with its investors and portfolio companies to enhance value creation and ensure high-quality service delivery.

Onexim Group is a prominent private investment firm based in Moscow, Russia, with a diversified portfolio spanning various sectors, including mining, financial services, real estate, media, utilities, and technology. The company focuses on making strategic investments in industries it believes will have significant global impact. By leveraging its expertise and market insights, Onexim Group aims to identify and capitalize on emerging opportunities across multiple sectors, contributing to its growth and that of its investment partners.

Gemcorp Capital is a private equity firm specializing in debt, hybrid, and equity investments. The firm primarily invests in the financial services, natural resources, infrastructure, and sovereign sectors. It typically invests in emerging economies with focus on Africa, Eastern Europe, Middle East, Emerging Asia, and Latin America. The firm invests through its own funds and through co‑investment in debt, private equity, and hybrid transactions. Founded on September 22, 2014, it is based in London, United Kingdom, with additional offices in Luanda, Angola; Moscow, Russia; Genève, Switzerland; and Dubai, United Arab Emirates.

MaxiPost LLC is a courier service provider based in Moscow, Russia, specializing in the delivery of goods for online stores. Established in 2000, the company offers a comprehensive range of services, including parcel delivery, order tracing and tracking, and parcel insurance. Additionally, MaxiPost provides warehousing, storage, and sorting of orders. The company also facilitates money transfers to online stores and offers support services such as a hotline, integration solutions, SMS notifications, reporting, and the reception of goods from suppliers. As of October 2020, MaxiPost operates as a subsidiary of Sovmortrans ZAO, with branches throughout Russia.

CEECAT Capital is a private equity firm focused on investments in Emerging Europe, Central Asia, Turkey, Kazakhstan, and other select markets. It targets companies with EBITDA of EUR2 million or above and equity requirements between EUR10 million to EUR30 million across various sectors including Manufacturing, Food Processing, Consumer Goods, Business Services, Energy/Infrastructure, Telecommunications, Media and Technology, Transport and Logistics, and Healthcare.

Established in 2019, MTS StartUp Hub is an accelerator based in Moscow, Russia. It focuses on early-stage investments across sectors such as FinTech, IoT, cloud services, sharing economy, ad tech, big data, machine learning, cybersecurity, entertainment, travel, consumer apps, and ed-tech.

URALCHEM Holding P.L.C. is a prominent producer of nitrogen and phosphate fertilizers, based in Moscow, Russia. As the largest manufacturer of ammonium nitrate in the country and the second largest producer of ammonia and nitrogen fertilizers, URALCHEM operates facilities capable of producing over 2.9 million tonnes of ammonia, 2.9 million tonnes of ammonium nitrate, 1.2 million tonnes of urea, and 0.8 million tonnes of phosphate and compound fertilizers annually. The company's key assets include various production branches located in Kirovo-Chepetsk, Berezniki, and Voskresensk, as well as trading operations in countries such as Latvia and Brazil. URALCHEM capitalizes on the rising demand for mineral fertilizers, particularly in BRIC nations and Southeast Asia, and focuses on developing innovative fertilizers tailored to specific markets. Its production relies primarily on natural gas sourced through long-term contracts with major suppliers, ensuring a stable supply of raw materials for its operations.

Gazprombank, established in 1990 and headquartered in Moscow, is the third largest bank in Russia. It offers a wide range of services, including corporate banking, personal banking, investment banking, and depositary services. The bank engages in securities trading, foreign exchange operations, and precious metals trading, in addition to providing clearing and settlement services. Gazprombank has a robust distribution network with 43 branches and over 260 banking outlets across Russia. It also holds ownership interests in three other Russian banks and has a presence in Belarus, Armenia, and Switzerland through stakes in local banks. Furthermore, Gazprombank operates representative offices in Mongolia, China, and India. The bank is also notable for its acquisition of Gazprom Media in 2005, a major media holding in Russia.

Rocket10 is a mobile marketing agency based in Moscow, Russia, with over eight years of experience in the industry. The company specializes in developing and implementing app promotion strategies across major advertising platforms and social media. Rocket10 offers a comprehensive range of services, including mobile media planning and celebrity endorsements, aimed at helping clients achieve their growth objectives through performance-based user acquisition solutions. The agency has earned the trust of significant developers and brands, including Uber, Farfetch, PUBG, Shein, inDriver, and Joom, underscoring its reputation and expertise in mobile and social media marketing.

Arbat Capital is an investment advisory and asset management firm founded in 2007 and based in Moscow, Russia. The firm specializes in working with private investors, offering a variety of investment opportunities worldwide. Arbat Capital provides a comprehensive range of consulting services, including currency investment strategies, precious metals strategies, and liquid assets strategies. Additionally, the firm offers investment advisory services tailored for hedge funds, along with consulting on investment and investment return analysis.

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

Yandex is a Russian internet company that operates the largest search engine in Russia. It provides swift search results and other standard services, including transportation services, navigation products, and mobile applications powered by machine learning.

Established in 2013, Impulse VC is a venture capital firm headquartered in Moscow, Russia. It invests in seed to series A-stage companies across various sectors, with a primary focus on adtech, B2B SaaS, proptech, and marketplaces.