The Largest VC Firms in Russia

Partners Group is a global private markets firm with USD 174 billion in assets under management and c. 1,800 professionals across 23 offices worldwide. We seek to generate superior returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. As a committed, responsible investor, we aim to deliver lasting, positive impact for all our stakeholders. We provide an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. Partners Group has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN).

Silicon Valley Bank (SVB) is a specialized financial partner for the innovation economy, serving startups from pre-seed to IPO, as well as venture capital and private equity investors globally.

Novo Holdings A/S is the holding and investment company responsible for managing the assets of the Novo Nordisk Foundation, one of the world's largest enterprise foundations. Established in 1999, the company is headquartered in Copenhagen, Denmark, with offices in London, San Francisco, Boston, Singapore, and Shanghai. As of 2024, Novo Holdings manages total assets of DKK 1,060 billion (€142 billion). The company's primary objective is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. To achieve this, Novo Holdings invests in life science companies at all stages of development and manages a diversified portfolio that includes equities, bonds, real estate, infrastructure assets, and private equity investments. In 2024, Novo Holdings reported record total income and investment returns of DKK 60 billion (€8.0 billion), driven by strong performances from its investment portfolio and the Novo Group companies. A significant recent development was the completion of a $16.5 billion acquisition of Catalent, a contract drug manufacturer, in December 2024. This strategic move aims to bolster the production of Wegovy, a popular weight-loss drug, to meet increasing demand. Novo Holdings' investment areas include life science investments, capital investments, and planetary health investments, with a focus on regions such as North America, Europe, and Asia. The company's guiding principles emphasize high performance with respect and responsibility, an ambitious strategy focused on return-driven investments, and excellence in operations, including talent development and strong governance.

Shenzhen Capital Group Company, Ltd. (“SCGC”) is a venture capital firm (“VC”) in China. SCGC was originallyco-founded by the Shenzhen Municipal Government and a group of private partners in August 1999, SCGC is now a privately and independently managed VC. Since its establishment, SCGC’s venture capital investments have focused on cultivating domesticand international companies, helping to shape national brands, and promoting economic transformation and emerging industries. SCGC has registered capital of 5.42 billion RMB and total asset under management (“AUM”) of 346.36 billion RMB.SCGC primarily invests in innovative high-tech companies in emerging industries in their start-up, growth or pre-IPOstage. SCGC investments are extensive, including,but not limited to, investments in information technology (“IT”), internet, new media, healthcare, new energy, environment protection, chemical engineering, new material, advanced manufacturing, consumer goods, modern service, etc. As of February, 2020, SCGC is ranked the No.1 VC in Chinabased on the overall number of portfolio companies (1082), the total investment amount (49.3 billion RMB) and the number of portfolio companies that are listed on capital markets worldwide (160 companies listed in 16 different capital markets).

Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with approximately $20 billion in AUM as of 12/31/2024. Charlesbank focuses on management-led buyouts and growth capital financings, as well as opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. ---- Charlesbank’s principals have a long history of working together, a deep specialization in the middle market and a record of solid returns over multiple business cycles. We bring a flexible approach to the structure of each portfolio company investment and are comfortable working in scenarios that are complex or difficult to underwrite. For more information please visit: www.charlesbank.com. Disclaimer: The information on this page is for informational purposes only. Nothing on or within this page constitutes a solicitation, offer, recommendation or representation of suitability or endorsement of any security or investment or any product of Charlesbank or Charlesbank-managed funds. Charlesbank is not responsible for any content posted by third parties to this page.

LetterOne is an international investment business headquartered in Luxembourg. We invest our own capital in companies that we think have unrealised potential and where we believe our strategic involvement can improve their performance and build significant value. We are very selective about the sectors in which we invest. We only invest in sectors where we have developed deep industry expertise. As businesspeople we bring, sector experience, strategic expertise, and our own permanent capital, to those companies in which we choose to invest. We are long-term growth investors – with no fixed investment time horizons. We know that building a better performing business takes time and determination. People need energy, food retail, and technology. As demographics change, people are increasingly concerned about their health. They need energy to power homes and grow economies. Therefore, these sectors have longevity and opportunity. Many industries are in significant flux because of changes in society, demographics and technology. Companies around the world are transforming their operating models and deepening their relationships and knowledge of their consumers. Our vision is to build on our proven track record of successful investments to create one of the world's leading international investment businesses. We have successfully managed companies through volatile periods like these and will undoubtedly do so again. We are disciplined when it comes to the execution of strategy. We have an operational mindset. Our investments are focused on the Energy, Retail, Telecoms & Health sectors through our business units, L1 Energy, L1 Retail, L1 Technology and L1 Health. Our liquidity is managed by L1 Treasury.

TenOneTen Ventures is a Los Angeles-based venture capital firm that invests early in technical teams transforming major industries like healthcare, logistics, and manufacturing using AI and data.

Verdane is an independent investment firm specializing in growth equity investments in software, tech-enabled, and sustainable businesses across Europe. Established in 2003, Verdane has made over 400 investments, managing assets exceeding €8 billion. The firm operates from seven offices in London, Berlin, Munich, Oslo, Stockholm, Copenhagen, and Helsinki. Verdane focuses on two primary investment themes: digitalization and decarbonization. Within digitalization, the firm targets software, B2C products, and B2C services, while in decarbonization, it concentrates on energy transition and resource efficiency. In October 2024, Verdane raised €700 million for its second fund, Verdane Idun II, dedicated to companies aiding in the decarbonization of the economy. The firm has also been recognized for its commitment to sustainability, achieving B Corp certification in May 2023, reflecting its dedication to high standards of social and environmental performance. Verdane's portfolio includes notable companies such as Fashion Cloud, a B2B software solution for the fashion wholesale industry, which received a €25 million investment led by Verdane in December 2022. Additionally, Verdane partnered with Cleanwatts, a global clean tech and energy management software leader, to support its expansion and development.

Vertex is a global network of venture capital funds. The Vertex network of funds invests in early stage opportunities in technology through Vertex Ventures and healthcare through Vertex Ventures HC, and growth stage opportunities through Vertex Growth. Each of the Vertex Ventures funds in Israel, USA, China, and SEA & India operate independently, with separate local teams that raise and manage respective funds independently.Vertex Holdings is an anchor investor in each of the Vertex funds, namely: Vertex Ventures China, Vertex Ventures USA, Vertex Ventures Israel, Vertex Ventures SEA & India, Vertex Ventures HC, and Vertex Growth. Vertex Holdings is owned by Temasek Holdings.

Canaan is an early-stage venture capital firm that invests in visionaries with transformative ideas. While we love speedy success, we're acutely aware that greatness comes in many forms and at different times. That's why we're not afraid to break the mold to bring something spectacular to life. Our approach is personal. We don’t believe in a one-size-fits-all approach, but there are a few absolutes intrinsic to who we are and how we work. And these values weren’t contrived out of thin air, they’re hard earned over the past 30 years and counting. 01 High performance, low ego. The old adage “actions speak louder than words” rings true within Canaan’s walls, and in our interactions with companies out in the wild. Words like "understated" and "effective" are often used to describe our partners, and that’s fine by us. We’ll leave the bragging to the others. “Seasoned investors can be very arrogant, but Canaan is no BS, unassuming, and humble—no hysteria, no angst.” — Michael Gilman, CEO Arrakis 02 People are more than statistics. A diverse team means we bring varied perspectives to the table. And that table welcomes out-of-the-box thinking, spirited debate, and people from all walks of life. It’s our individual backgrounds and interests that inform our collective approach, which spans industries, generations, and coasts. In short, our diversity is who we are and what we do. 03 We ask for help, and so should you. We firmly believe that two heads are better than one. So while our investors thrive in 1:1 partnerships, our companies also have the support of the entire Canaan team whenever, wherever. Recruiting your executive team? We’ll mobilize our full network. Need operational advice to bring a product to market? We’ll connect you with the right partner or colleague. Our resources are yours. “Even if Canaan hadn’t funded us, just going through the process with them – the discussions we had and the questions they asked – already made us a better company. And that’s amazing.” — Julie Wainwright, CEO The RealReal 04 The Golden Rule still applies. We treat you like we treat ourselves—with respect, transparency, and honesty—even if it’s sometimes not what you want to hear. It’s this approach that makes our portfolio companies more like family, because we’re not afraid to get in the weeds and help solve big hairy problems. In fact, it’s what we live for. We’re acutely aware that our success hinges on your success, so we do what it takes. “We made big strategic shifts as a company and worked closely with Maha through all of them. Canaan is really smart about the way they get involved and how they support you through good times and bad.” — Kevin Chou, former CEO Kabam 05 We're in the know, not in the way. We’d be lying if we said we weren’t hands-on, but we also know when to step back and let you soar. Our goal is to add value to your process, and help you grow in ways you couldn’t alone. That’s why you’ll never see us booking meetings just to check a box or “see how are things are going.” We’ll already know, because that’s the kind of relationship we have with our companies. Balance, diversity and passion are at the core of who we are. Meet the hardworking people who defy convention, shatter glass ceilings, and take companies to the top — all with a unique style and a healthy dose of humor.

Bessemer Venture Partners (BVP) is a $4B venture capital firm that funds consumer, enterprise and healthcare startups around the world, from seed stage to growth. BVP funded the early stages of Pinterest, Blue Apron, Skype, Skybox Imaging, Twitch and Periscope and helped build 117 IPOs including Twilio, Yelp, LinkedIn, Shopify and Wix.

RUSNANO was established in March 2011 as an open joint-stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is chairman of the Executive Board of RUSNANO.Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies.Read more at http://www.rusnano.com

Baring Vostok Capital Partners Limited is a venture capital and private equity firm based in Russia. It invests on early venture, acquisitions, buy-outs, growth capital, later-stage, mid-market, and medium-sized enterprises that operate in sectors such as natural resource extraction, particularly oil and gas; competitive industrial companies that operate in local or export markets; mass media and telecommunications; utilities; construction materials; specialty manufacturing; real estate development; residential real estate development; internet; software; retail; and service management. Baring Vostok Capital Partners was founded in 1994 and is based in Moscow, Russia with additional offices in Limassol, Cyprus and Gernsi, Channel Islands.

Proterra is an alternative asset manager that makes investments across the food value chain from farm to fork. The firm, which spun out of Black River Asset Management — a wholly owned, independently managed division of Cargill — focuses on seven core investment verticals: Credit, Farmland, Growth Equity, Proterra Asia, Sustainable Agriculture, Asset-backed Strategies, and Real Estate. Headquartered in Minneapolis, the firm employs 66 professionals across four global offices: Minneapolis, Shanghai, Singapore and Sydney. For more information, visit https://www.proterrapartners.com/.

We follow a people-first, markets-second approach to investing. We primarily invest at the early stages of companies, with selective investments in companies at the later stage. We are currently investing out of our fifteenth early-stage fund, the $400 million Mayfield XV, and our first growth stage fund, the $125 million Mayfield Select.

Target Global is a pan-European technology investment firm headquartered in Berlin, Germany, with over €3 billion in assets under management. Established in 2012, the firm invests across all stages of a company's lifecycle, from pre-seed to pre-IPO. Target Global's portfolio includes notable companies such as Delivery Hero, Revolut, Auto1 Group, Copper, Rapyd, Wefox, Flink, and Cazoo. The firm's experienced team, many of whom have backgrounds as founders and operators, assists exceptional entrepreneurs in building leading companies targeting trillion-dollar markets. To date, Target Global has backed 15 unicorns, achieved 21 exits, and realized 7 IPOs. The firm operates offices in Berlin, London, Tel Aviv, and Barcelona.

500 Global is a venture capital firm with $2.3 billion in assets under management, investing in globally ambitious founders building fast-growing technology companies. The firm focuses on U.S. and global markets where innovation, capital, and ecosystems can propel startups and unlock long-term value. 500 Global has backed over 35 companies valued at $1 billion or more and more than 160 companies valued at over $100 million. The firm invests across sectors, geographies, and markets, leveraging its unique global networks and resources to unlock the potential of entrepreneurs and drive uncommon outcomes.

Abingworth is a transatlantic life sciences investment firm that partners with entrepreneurs to turn breakthrough science into medicine. Investing across all stages from seed to public companies, they focus on biopharma, therapeutics, medical devices, and diagnostics with offices in London, New York, and San Francisco.

Evolution Equity Partners is an international venture capital firm specializing in cybersecurity investments. Led by technology entrepreneurs with extensive experience in building software companies globally, the firm leverages its deep operational, technical, product development, and go-to-market expertise to support entrepreneurs in creating market-leading cybersecurity solutions. Evolution Equity Partners invests across multiple stages, from seed to growth, partnering with exceptional entrepreneurs to build and scale innovative cybersecurity companies. Their portfolio includes notable companies such as Security Scorecard, Arctic Wolf, Talon, Quantexa, Pentera, and Snyk. The firm is committed to providing unparalleled resources and insights, offering an operating playbook to effectively guide cybersecurity startups from inception to IPO. This includes equipping companies with the knowledge, tools, and strategies necessary to drive performance and achieve success in the competitive cybersecurity landscape.

Finstar Financial group is an international private equity and investment advisory firm with around USD$2 billion of assets under management (AUM). The company is headed by Oleg Boyko and has a diversified investment footprint in more than 30 countries. Finstar’s investment professionals target opportunities in Europe, the US, Asia, Latin America and the CIS. The group is strongly focused on the fintech sector and has been highly successful historically in banking and financial services, IT, real estate, FMCG retail, media, and entertainment sectors. Finstar has a proven track record of 25 years of operational excellence in startups, turnarounds, joint ventures and mergers & acquisitions.

Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global. Our Early Stage Funds are based in the US, Europe, Asia, and Brazil, and invest locally. Our San Francisco-based Growth Fund invests globally from Series B and beyond, working in collaboration with our Early Stage Teams. The sizes and locations of these funds make it possible for us to see local trends up close, identify winning founders, and lead rounds at every stage. Sonos, The RealReal, Creditas, Sorare, Pismo, AppFolio, goPuff, Acorns, Farfetch, Segment, Bumble and Yeahka are among the stars in Headline’s world.

Russia-China Investment Fund (RCIF) is a private equity fund established jointly by RDIF and CIC in October 2011 to stimulate the bilateral investment and generate strong risk-adjusted return for investors, taking advantage of rapid development of economic cooperation,fast growing trade, and the increasing purchasing power of the middle class in Russia and China.The fund received $2 billion in commitments from RDIF and CIC in equal share, with up to $2 billion expected to be raised from international institutional investors.In June 2012,CEOs of RDIF and CIC, in the presence of Russian and Chinese presidents, signed official documents to set up the Russia-China Investment Fund;In March 2013, RCIF signed an MoU with VEB, RDIF and CIC, and launched operations.

Founded in 1989, SCF Partners (“SCF”) provides equity capital and strategic growth assistance to build leading energy service and equipment companies that operate throughout the world. The firm is headquartered in Houston, Texas and has additional offices in Calgary, Singapore and Aberdeen. SCF currently oversees approximately $2 billion under management and has built more than 70 platform services companies, completing over 340 growth acquisitions, through partnerships with energy services and equipment entrepreneurs.

Octopus Ventures, part of Octopus Group, is one of the largest and most active venture capital investors in the UK and Europe. We’re on a mission to invest in the people, ideas and industries that will change the world.We back entrepreneurs ─ from the first cheque their business receives, right through to IPO. We manage £1.8bn and are investing in more than 200 businesses, focusing on the companies solving three of the world’s biggest problems: those building a sustainable planet, empowering people, and revitalising healthcare.We know what it takes to build a successful business. We support founders through our strong teams, sector expertise and deep networks, using our people and talent to help them build a better tomorrow.

Established in 1998, during the Asian Financial Crisis to invest distressed debt opportunities in Asia, ADM Capital has a strong track record in identifying and investing in stressed and dysfunctional markets, providing funding in the absence of traditional financing from FIs and markets. As economies across the region rebounded, the firm transitioned from a distressed strategy, and ADM Capital now focuses on privately financing growth and special situations opportunities across Asia Pacific via a senior secured lending approach; structuring its investments with contractual return, downside protection, and equity upside where appropriate - thereby generating stable, predictable and attractive risk adjusted returns for investors. With 20 years'​ investment experience, ADM Capital has strong proprietary networks that drive self-generated deal flow, and is regarded as a trusted lender in the marketplace. The ADM Capital Foundation was established in 2006. ADM Capital's consistent performance demonstrates that strong returns need not be at the cost of a responsible and holistic investment approach.