Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Startup Investment Fund Launches

The state-founded Internet Initiatives Development Fund, specializing in hi-tech startups, has begun operations, fund director Kirill Varlamov announced Monday.

The fund plans to work for three years and invest 6 billion rubles ($184 million) in about 400 Russian startups, after which it will sell its stakes in the companies, Vedomosti reported.

Pre-seed projects, where there is little more than an idea, will qualify for investment of about $25,000, while seed projects, in which idea development is underway, could receive $250,000 to $300,000. The fund will also invest up to $3.5 million per project in those that are in later stages of development

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more