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Russia's Venture Market Struggles as Angel Investment Plummets 80%

4/13/2026

40 4 Full Breakdown

Summary

Story summary

Russia's venture market faces significant challenges as angel investor activity drops nearly 80% in 2025.
Sergey Gayvoronsky, Investment Director of Kama Flow, urges startups to survive and maintain liquidity.
Private funds now lead investments, increasing their share from 28% to 58%.
Cash-out opportunities and low valuations hinder market development.
Industrial technologies and medicine are attracting more investor interest.

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Story summary

Russia's venture market faces significant challenges as angel investor activity drops nearly 80% in 2025.
Sergey Gayvoronsky, Investment Director of Kama Flow, urges startups to survive and maintain liquidity.
Private funds now lead investments, increasing their share from 28% to 58%.
Cash-out opportunities and low valuations hinder market development.
Industrial technologies and medicine are attracting more investor interest.