Venture capital investments in Russian projects more than doubled year on year to $910.6 million in 2012, Vedomosti reported Thursday, citing a research by Russian Venture Company (RVC) and PricewaterhouseCoopers (PwC).
PwC representative Anton Abashkin said 201 venture capital deals were concluded last year. He added that the number of big deals had increased, compared with 2011. According to PwC, 160 funds invested money in Russian startups last year.
The research calculated investments of no more than $100 million made by angel investors, investment companies and venture capital funds.
According to the study, IT and Internet companies are what attract investors most of all. More than 70 percent of the investments were made into these two industries last year, according to Andrei Vvedensky, head of the projects and programs department at Russian Venture Company.
In absolute figures, e-commerce remains one of the most attractive sectors for investors, experts said.
This business is more understandable to investors than risky innovations, Vladislav Kochetkov, chairman of investment company Finam's board of directors, said in comments carried by Vedomosti.
He added that financial services would also experience significant growth in the future and attract significant investments.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
