Russian Private Equity and Venture Capital market is the largest in the Eastern Europe and Former Soviet Union (FSU). While there are some international firms and local firms backed by international institutional investors in Russia, the market is quite local with most of the funds are sourced domestically. Many of the largest local PE/VC firms are controlled by the government or Family Offices of Russian high-net-worth individuals (HNWI), which also act as Angels, including in international unicorns. Russian Internet Leaders, such as Yandex, Mail.Ru Group and Sberbank are very active investors, especially in the VC arena, hunting for the most attractive startups in promising areas of Internet and Technology sectors. All the major PE/VC firms in Russia are concentrated in Moscow. While top-tier global PE/VC investors may have some portfolio companies from Russia, usually they do not have an office there and the country is covered from London and other EMEA offices. With many Russian startups located in Silicon Valley, Europe and Israel, Russian Venture Capitalist also focus more on international markets and may have representative offices in California, London, Berlin, Tel Aviv and other prominent locations. Russian PE/VC/Angels invest in different sectors, such as Consumer Goods and Retail, Financial Institutions, Industrials, Healthcare, Energy, with Internet and Information Technology being the most popular lately. In terms of deal types, early-stage (seed, round A, round B) and growth capital are the most common in Russia.
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