Russian venture investment market: current problems and solutions

Abstract

Sergei Nikolayevich Volodin - National Research University "Higher School of Economics".

E-mail: svolodin@hse.ru

Victoria S. Volkova - GVA Capital.

Email: vvolkova.me@gmail.com

The study presented in the article is devoted to topical problems of the Russian venture capital market. Despite the fact that this area has good governmental funding presence of large development institutions, it can not be called successful today. The authors aim was to characterize the current state of the venture market in Russia, identifying the most important issues and forming recommendations for overcoming these problems.Due to a lack of statistical data on the relatively young Russian venture market in-depth interviews with the experts were chosen as the main method of study. The data obtained by interviews allowed the authors to form a holistic view of the current situation in the venture capital market, determine and classify the main problems, as well as identify a number of areas of work on its further development.The study shows that today, the Russian venture investment market is in a difficult situation due to many reasons. They are associated with external factors relevant to the Russian economy as a whole and with a number of internal problems. Working on the latter can certainly contribute to the successful overcoming of the situation and reaching a new level of functioning of venture capital ecosystem. The insights obtained in the work may be useful to various participants of the Russian venture market, as well as to a wide range of professionals associated with it, and will provide a deeper understanding of the key problems and possible ways out of them.