Russia's venture capital market to decuple in size to $40bn by 2030 due to pension money

Russia's venture capital market to decuple in size to $40bn by 2030 due to pension money

Russia's venture capital market is expected to decuple in size to RUB2.7 trillion ($40bn) by 2030 / bne IntelliNews

By bne IntelliNews December 19, 2018

Russia's venture capital market is expected to decuple in size to RUB2.7 trillion ($40bn) by 2030, according to the joint strategy of the Russian Venture Company (RVC) and the Ministry of Economic Development, Vedomosti daily said on December 19.

Achieving the ambitious goal would mean increasing the capitalisation of Russian VC funds 10-fold from 2017. The total amount of VC deals would have to jump 25-fold from RUB16.2bn to RUB410bn in 2030, according to the plan.

The RVC plans to bring corporate investors to the VC market, as well as the non-state pension funds (NPFs) that are currently being reformed and re-consolidated. These should become the anchor VC investors with 45% share by 2030. Together with tax rebates and state support this would add RUB960bn to the VC market by 2030. Private investors would bring up to RUB950bn.

The discrepancy between investing the "safe" pension money into risky VC projects will be reconciled by special regulations that would allow NPFs to participate in investment agreements and funds.

Number of projects competing for VC funding would also have to increase dramatically, 2-2.5-fold y/y to 40,000. The think-tanks and experts participating in the drafting of the strategy see this as realistic given current statistics on such parameters as tech graduates and new start-ups.

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