IN PARTNERSHIP WITH

Russian Venture Capital Market Overview 2015 Contents

Greeting 3

About RMG partners 4

Russia’s VC Market in Two-minute Rundown 5

Key Findings 6

VC Market Overview 7

Exits and Sizable Deals 8

Market Structure 9

Software / Internet - B2B 13

Software / Internet - B2C 14

Deals List 2015 15

Selected articles 32

Industry events H2 2016 45

Contacts 57

IN PARTNERSHIP WITH 2 Greeting

Looking back at the year 2015, we can’t but feel that we said bye to perhaps the worst year in the short but effervescent history of Russia’s VC market. On the one hand, the year brought a substantial sag in investment; on the other, it accentuated the reluctance on the part of portfolio holders to show a knee jerk reaction to the slump, hence a near-negligible number of exits. Investors had more than enough grounds for wariness, and even fear. The national currency shed most of its pre-crisis value; the oil prices experienced a giant nose-dive; the political standoff between Russia and the West showed no sign of easing; and on top of all that, it was uncertainty regarding the rules of the game and the government’s role in the VC market that weighed down on investors. Amid endless changes in budgetary priorities the Cabinet could have simply forgotten about the market. State investments shrank indeed. They moved to streamline—perhaps not across the board yet—the participation of corporates in the support of start- ups and their technologies. Viewing big business as a customer of domestic technology led to the launch of a new corporation-focused program within GenerationS, the largest acceleration initiative by RVC, Russia’s fund of funds for innovation. The most recent government decision compelling 90 biggest Russian state- owned companies to purchase high tech solutions from small and medium- sized businesses has fueled hopes for recovery to come, showing the key players that the regulators are not turning their back on the market even in the face of the current crisis. Bloomberg put Russia on its list of the world’s 15 most innovative countries in 2015, commending Russia for a multitude of high tech companies registered here. That means that Russia’s heading, at least quantitatively for now, for certain critical mass of bright minds supporting the national venture market. A quantitative increase in the number of tech-focused start-ups, if sustained, may—in agreement with a rule of physics—give rise to a major qualitative improvement of the technologies the start-ups develop. And this brings optimism as we look deeper into the year 2016, because it’s no secret that the quality of today’s pre-seed stage technologies out of Russia often falls short of investors’ expectations, forcing many angel investors to stay out biding their time. Many Russian start-up projects are plainly undervalued following the devaluation of the ruble, and project teams can’t but realize that technologies focused exclusively on the domestic market are just hopeless; and all this provides a strong enough foothold for the VC market to regain momentum. Yours sincerely, Arseniy Dabbakh Managing Partner at RMG Partners

IN PARTNERSHIP WITH 3 About RMG Partners

RMG Partners is an independent Russian investment company. In 20 years of work the Company has built an impeccable reputation among clients and professional market players as a reliable partner.

RMG Partners provides Russian and foreign companies with a wide range of services in the field of venture capital investments: - search for promising target assets; - capital raising, including government or private offerings; - search for strategic investors and support to M&A deals; - support for venture projects, including strategy development and steps to boost capital-raising potential; - recommendations on deal structure and financing methods. Analysis and discussion of deal terms and conditions, as well as due diligence.

RMG Partners is an active member of the National Association of Alternative Investors (NAURAN). NAURAN is a non-profit partnership created to draw attention to the market of direct and venture capital investments in Russia, to form a favorable legal environment, to assist in fund raising and promote the Russian investment market on the international scene.

Other members of NAURAN include:

IN PARTNERSHIP WITH 4 Russia’s VC Market in Two-minute Rundown

2015 Stats 2014 Stats Investment Average deal Investor Number of deals value, $Mio value, $Mio structure 128 32 0.3 Seed 274 169 0.3

101 79 1 Start-up 74 175 2

24 67 3 Growth 24 163 3

22 183 9 Expansion 30 249 9

3 4 2 Maturity 2 32 16

297 383 3 Total 436 788 1

4 11 Seed A B Exits 29 222 C+ Exit Number Value, $Mio

IN PARTNERSHIP WITH 5 Key Findings

4Q 2015 saw a disconcerting y-o-y decline of at least 50% in the number of deals, with the downward trend unchallenged for six straight quarters. Investment values were halved over the course of the year.

The lion’s share of investment in 2015 came to teams that develop Internet for B2C focused projects. On top of those, projects in e- commerce, followed by technologies for marketing and advertising, remained the second and third most attractive venture areas for investors, respectively. Biotech and industrial tech developments kept raising some red flags for the investor community.

Of all investor categories, private funds played first fiddle—although their contribution was not so weighty as before. The shrinking of the once deep investor pockets told primarily on seed-stage projects.

Following companies’ loss of value even in the dollar terms, many investors elected to stash away their plans for exits until better times. Nonetheless, some signs materialized over the year of a new trend for an increase in investor exits inside Russia.

The Russian government is likely to step up work to encourage the adoption of international best practices for pre-seed tech development, including the proof of concept model. There’s a chance for a more perceptible government move towards the institutionalization of the globally recognized proof of concept model in Russian universities.

At the seed and start-up stages, angel investors’ contribution even surpassed that in 2014; however, their overall role is still short of expectations.

IN PARTNERSHIP WITH 6 VC Market Overview

500 Investment value Number of deals $Mio, ex number of deals 150 134 116 400 129 101 90 97 101 109 100 300 101 110 90 86 73 200 385 43 53 5250 262 100 222 197 193 221 213 158 142 151 139 165 164 85 62 76 - 0 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 1q 2q 3q 4q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 Source: RMG partners As many expected, 2015 didn’t end up being a year of transaction quantity in venture investing. It didn’t turn out to be a year of investment quality, either. Against the backdrop of a 35% contraction in the number of deals (278 vs. 436 a year before, with the downward trend persisting for six straight quarters) we could see a 55% slump in the overall investment value. When comparing 4Q 2015 against 4Q 2014, we have to admit that the number of transactions was more than halved and the total investment value shriveled by an estimated 25%. If the former obviously was a trend that was solidifying over the 12 months, the latter clearly stands out to an analyst. The shrinking of the once deep investor pockets told primarily on seed-stage projects. The year 2015 put many developers to the backbreaking test; few of the projects ever lived to see their investors. Investment contracts dried up in numbers, shedding 50% of what the market had seen in 2014 and corroborating the trend that had first been noticed in early 2015. The project teams that had been spotted by investors received a pathetic 20% of the investment value other developers had raised a year before. The average investment amount barely changed from 2014. While at the growth and expansion stages a decline was clear but not devastating, the start-up stage saw a more considerable drop in investment value (with the average investment amount nearly halved); at the maturity stage, investments were downright negligible. That said, at the end of the day we can see the average investment amount unforeseeably doubled across the project stages—largely due to 4Q 2015 when the average investment actually skyrocketed by a stirring 22 times y-o-y. Of all investor categories, private funds played first fiddle—although their contribution was not so weighty as before, and they were virtually invisible at the maturity stage. The lion’s share of their investment in 2015 came to teams that develop Internet for B2C focused projects. On top of those, projects in e-commerce, followed by technologies for marketing and advertising, remained the second and third most attractive venture areas for investors, respectively.

IN PARTNERSHIP WITH 7 Exits and Sizable Deals

2015 Results Investments 1200 $Mio

1000

222 800

600

19 400

200

788 360 0 2014 2015 Base market Exits

Источник: RMG partners Exits from mature projects were rare—a trend we first saw quarters before. In fact, they were near-extinct compared to the previous year. The number of exits contracted by seven times, and the total amount of money investors walked away with was a dazzling 22 (!) times smaller than in 2014. As before, most of the exits we did see were guided by negative factors (e.g., to stop loss or dump an asset to a competitor) rather than the success of an investor’s strategies. Over the course of the year sporadic exits by Russian investment funds from western start-ups were announced in an effort to secure a positive ROI in a foreign currency. However, following companies’ loss of value even in the dollar terms, many investors elected to stash away their plans for exits until better times, in the hope of having the value reconsidered or an exchange rate adjusted enough to push dollar-denominated return to a level that would justify exit. For as long as the current situation persists, investors prefer keeping watch and ward. Analysts expect privately held and government-owned domestic companies to emerge as new strategic players that bet on start-up buyouts directly from the founders (especially in software development, advertising, media and e-commerce). These may include anything from Rostelecom and other telcos to mobile operators, to biomed distributors and biotech developers such as Invitro, to huge holding companies like AFK, and others. Already last year market experts caught sight of new developments inside Russia presaging a likely increase in investor exits to come.

IN PARTNERSHIP WITH 8 Market Structure: Stages

Venture deals dynamics for different stages of development

98

85

73 66 68 61

45 47 41 42 38 29 26 22 22 22 2221 17 18 15 14 14 13 10 10 10 10 1210 10 7 8 7 7 6 6 8 5 4 3 3 5 3 5 4 1 2 1 2 0 0 2 0

Seed Start-up Growth Expansion Maturity 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 Source: RMG partners 1Q 2015 2Q 2015 3Q 2015 4Q 2015 In our 3Q 2015 Report we dwelt upon the portents of a major structural crisis in relations between Russia’s institutional investors, including the so-called development institutions, and private business over the co-funding of early-stage projects. One of the reasons is a fundamental gap between the two in goal setting and the perception of the ways of achieving the goals. For private business, clear understanding of which market a given technology project may serve best, if at all, is the key criterion in making investment decisions; for the government, it’s a solid scientific component that determines a project’s merit. What the government routinely fails to take into account is a scientist’s inherent thirst for endless research. The activity of the Bortnik Fund, or FASIE, offers a good example. Researchers at universities—supposedly the largest source of new market-driven technology—found that 97% of projects that received grants from the Bortnik Fund under its START program are unable to raise co-funding from a private investor for the START-2 program extension. Private investors simply refuse to shell out their money to encourage infinite study of yet another “Higgs boson” with no market prospects whatsoever—in contrast to the Fund’s persistent support of ever-deepening fundamental research in a direction set by the researcher rather than the market. This results in one of Russia’s most influential government funds, which could become a perfect source of money for translational research on a developer’s path to technology commercialization, inadvertently abusing its own passion for science and unintentionally getting developers to diverge from a winning course of action and in so doing miss their potential investors.

IN PARTNERSHIP WITH 9 Market Structure: Stages

Project stages: Investor activity

300 $Mio 251.6 249 250 184.9 200 169.2 163.1 150

100 79 67 155 140 135 139 138 50 35.2 32 59 12 53 32 0 14 4 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015

Seed Start-up Growth Expansion Maturity Funds Govt funds Corporations Angel investors

Source: RMG partners It’s funds that kept the VC market afloat last year—broadly in line with expectations but perhaps a bit less vigorously than before. They supported the lion’s share of expansion projects, a stage where most of the risks associated with “adolescent ailments” in project development have already been removed, as well as start-up and growth stage projects. A slight increase in investment value from 2014 was only registered in expansion stage projects. At the earlier stages, private funds were not so energetic, curtailing their investment activity at the growth stage by 50%, at the start-up stage by 25%, and by a noticeable ten times at the seed stage. At maturity, they showed basically no sign of involvement at all. Government funds followed suit, leaving but a faint trace of presence across all the stages. Corporations stepped up involvement considerably, leaving footprints with limited but appreciable investment amounts at stages from seed through growth, and also at maturity. One of the drivers was a number of new open innovation tools RVC, Russia’s fund of funds for innovation, introduced last year to its three year old GenerationS acceleration program, thus substantially incentivizing industrial partners to jump in in search of young research teams capable of solving their pressing technology or business problems. Angel investors were also noticeable enough, especially at the expansion stage (in money terms, though, the part they played at this stage was much humbler than a year before). At the seed and start-up stages, angel investors’ contribution even surpassed that in 2014; however, their overall role is still short of expectations.

IN PARTNERSHIP WITH 10 Market Structure: Investors

Private funds dominated the market in 2015 $Mio, ex exits

Business- angels Biotech Strategic Indust. tech Other tech State Comp. equip

Funds Soft & Internet B2B Other IT PPP Soft & Internet B2C

- 50,00 100,00 150,00 200,00 250,00 300,00

What has yet to be addressed is the problem of a Average deal valueИсточник: by stages RMG partners missing link between the developer and the private investor. If in the U.S., for example, the 4Q2014 $Mio 4Q2015 importance of proof of concept at the pre-seed 136,5 stage has hardly ever been challenged over the past 20 years, in Russia proof of concept centers are still a rarity. When speaking to investors, 0.2 developers, in their majority, cannot use the 27,032,3 language of finance and market, and indulge in 1.418,5 136,2 6 their science talk instead—causing angel 0,3 0 investors to bow out of such talks. Projects that have gone through at least some initial stages of translational research (predominantly at university-based tech transfer centers) raise Source: RMG partners much fewer red flags, and angel syndications are VC investments by rounds, 2015 more widespread in an A funding round and up, $Mio where there’s no more doubt about projects’ Business-angel Strategic Fund State PPP business models. The “domestication” of the proof of concept model across Russian 120 universities and an alliance of PoC centers under 100 the umbrella of the already operational 80 International Proof of Concept Association 60 (IPOCA) with strong government backing (which 40 is currently on the table in the Russian Cabinet) 20 could carry the role of angel investors to new 0 heights and help funds home in on the most Seed A B C+ Exit commercially viable projects available. Source: RMG partners

IN PARTNERSHIP WITH 11 Market Structure: Segments

400 Venture investments by sector, 2015 13 Investments ex exits, $Mio 350 BiotechComp. equip. Enterprise 300 Other tech management

Indust. Other 250 tech IT 57 Other B2B 200 132 17 services Soft & 378 Marketing/Ads 22 Internet 150 Platforms B2C Soft & Internet B2B 62 100 Content providers 140 7 18 50 E-commerce

Other B2C 0 services

-50

Total NON-IT 22% IT 78%

Source: RMG partners

Investors’ enthrallment with the Internet has hardly changed. There was little in both B2C and B2B segments of the IT market which analysts could call “out of the ordinary.” In the former, the Soft & Internet and E-commerce segments leapfrogged all others in investments raised to take a supreme lead; and in the latter, Soft & Internet also ended up being the most appealing segment, followed by Marketing / Ads.

Biotech and industrial tech projects kept raising some red flags for the investor community due to their long investment horizons and an alarming lack of unambiguous rules of the game in a market dominated by the government. That said, venture capitalists didn’t skirt the industrial tech segment altogether last year, pumping a perceptible amount of money into it.

IN PARTNERSHIP WITH 12 Software & Internet B2B

Enterprise Enterprise management management systems systems 10.7% 34.3% Other B2B Other B2B solutions solutions 17.4% 16.7%

2015 Platform 2014 $131.9Mio 12.7% $148.4Mio Platform Marketing / ads 29.2% Other apps 43.5% for business Other apps for Marketing / ads 16.4% business 13.8% 5.2%

Value, $Mio Number Enterprise management systems Marketing / ads Other apps for business

21 37 8 32 18 6 44 19 15 5.2 14.15 57

2014 2015 2014 2015 2014 2015

Other B2B solutions Platform

27 23 31 18

37 5.3 1.3 1.6

2014 2015 2014 2015

IN PARTNERSHIP WITH 13 Software & Internet B2C

Other 11% Search / recommendation Other 1% Content providers 7% Finance 14% 6% Social media 16% 2015 2014 $122.5Mio $329.5Mio

E-commerce E-commerce 57% 50%

Value, $Mio Number

Content providers E-commerce Education 226

25

39 7 62 68 11 10 38 16 9

8 2014 2015 2014 2015 2014 2015

Gaming Search / recommendation Social media Other 26 24 35 7 4 6 30

3 2 2

0,73 11 19 17,64 17 0,13

2014 2015 2014 2015 2014 2015 2014 2015

IN PARTNERSHIP WITH 14 List of deals in 2015

IN PARTNERSHIP WITH 15 Deal Company Deal Investor Investment № Project Investor Value, Developme Sector Sub-sector Date Type Round $M nt Stage

Optoguard 1 Jan Nanotech Skolkovo Ppp 1.23 Seed Seed Industrial_tech Laser Tech TMT Investments, Run Software_internet Content 2 Jan Anews Capital, 101startup Private 2.7 Startup C+ _b2c Providers Software_internet Platform/Middl 3 Jan Dental Cloud Imperious Group Private 0.047 Seed Seed _b2b eware Other B2C Internet Starta Capital (0,03); Software_internet Services/Softw 4 Jan Geocv Moscow Seed Fund (0,062) Ppp 0.092 Seed Seed _b2c are Software_internet Search/Recom 5 Jan Pinxter Private Investors Private 0.5 Expansion A _b2c mendations Software_internet Other B2B 6 Jan Ros.Taxi Yandex Corporate 1.8 Expansion A _b2b Software Software_internet Other B2B 7 Jan Postgresql Anton Suschkevich Angel 5 Expansion A _b2b Software Software_internet 8 Jan Box2box Qiwi Corporate 0.5 Seed Seed _b2c E-commerce Software_internet E-commerce 9 Jan Rentmania Fasie Public 0.015 Startup Seed _b2c Buran Venture Capital, Software_internet 10 Feb Netology Group Inventure Partners Private 2.1 Growth A _b2c Education

Energy Exploration Technology, Other Industrial 11 Feb Arkadiy Zlobinskiy Fasie Public 0.015 Seed Seed Industrial_tech Tech

Med. Equipment Sterilizer, Sergey Medical 12 Feb Kavetskiy Fasie Public 0.015 Seed Seed Biotechnology Equipment Laser Cutting And Welding, Vitaliy 13 Feb Alekseenko Fasie Public 0.015 Seed Seed Iindustrial_tech Laser Tech Other B2C Internet Bicycle Security Fasie Software_internet Services/Softw 14 Feb System, Public 0.4 Seed Seed _b2c are

Big Data Analyzer Fasie Software_internet Other Business 15 Feb DIRECTUAL Public 0.4 Seed Seed _b2b Software

Virtual Reality Other_technologie Other_technolo 16 Feb Analyzer Fasie Public 0.4 Seed Seed s gies

Other_technologie Other_technolo 17 Feb Ficus Fasie Public 0.4 Seed Seed s gies

Software_internet Other B2B 18 Feb Rocketcallback Private Investor Angel 0.06 Startup A _b2b Software

IN PARTNERSHIP WITH 16 Deal Company Deal Investor Investme № Project Investor Value, Developme Sector Sub-sector Date Type nt Round Mln $ nt Stage

19 Feb Robocv I2BF Global Private 3 Expansion A Industrial_tech Robotics

Private 20 Feb Mamsy Ru-net, Baring 15 Expansion A Software_internet_b2c E-commerce Ashmanov And Private 21 Feb Wicron Partners 0.08 Startup Seed Industrial_tech Robotics Public 22 Feb Wicron Skolkovo Fund 0.08 Startup Seed Industrial_tech Robotics Venture Capital, Private 23 Feb Netologia Group Inventure Partners 2.1 Startup C+ Software_internet_b2c Education Other B2C Internet Vse Evakuatoryi Public Seed Seed Services/Softwar 24 Feb Rossii Fasie 0.02 Software_internet_b2c e Other B2C Internet Public Seed Services/Softwar 25 Feb Promoatlas Fasie 0.02 Startup Software_internet_b2c e Rostislav Kishenkov, Robot 26 Feb Tictag.Ru Food And Tech Angel 0.6 Startup Seed Software_internet_b2c E-commerce

Enterprise Management 27 Feb Mobilitylab It Private 3 Startup A Software_internet_b2b Software Alexandr Borodich, Bogdan Bagazh Iz Ruk V Yarovoi, Private Other B2B 28 Feb Ruki Investors Angel 0.2 Seed Seed Software_internet_b2b Software Stealthy 29 Feb Messenger Nikita Khalyavin Angel 0.0001 Seed Seed Software_internet_b2c Social Media

30 Feb Adaperio Rustam Baekenov Angel 0.03 Startup Seed Software_internet_b2c E-commerce Other B2C Internet Services/Softwar 31 Feb Getintent Altairvc Private 0.4 Growth Seed Software_internet_b2c e Alexandr 32 Feb Poblizosti.Pro Timoshenko Angel 0.2 Startup A Software_internet_b2c E-commerce Bogdan, Yarovoyi, Igor Yatrovoi, Igor Kaloshin, Ilya 33 Feb Lobster Mirochnik Angel 0.15 Startup Seed Software_internet_b2c Social Media Oleg 34 Feb Bigpicture Zakharchenko Angel 0.2 Growth Seed Software_internet_b2c Social Media Other B2C Internet IIDF, Microsoft Services/Softwar 35 Feb Аvtoplanshet Seed Fund Public 0.04 Startup Seed Software_internet_b2c e Other_technologi 36 Feb ASU Bankomatyi Iidf Public 0.022 Startup Seed Other_technologies es IIDF, Microsoft Other_technologi 37 Feb Afk Seed Fund Public 0.04 Startup Seed Other_technologies es IIDF, Microsoft Other_technologi 38 Feb Ndflka Seed Fund Public 0.04 Startup Seed Other_technologies es

IN PARTNERSHIP WITH 17 Deal Company Deal Investor Investme № Project Investor Value, Developm Sector Sub-sector Date Type nt Round Mln $ ent Stage

Software_internet_b 39 Feb Bez Pyili Iidf Public 0.022 Startup Seed 2c E-commerce Instruktor Po Software_internet_b 40 Feb Pokupke Kvartir Iidf Public 0.022 Startup Seed 2c E-commerce Software_internet_b Search/Recomm 41 Feb Moi Mechanik Iidf Public 0.022 Startup Seed 2c endations Other B2C Internet IIDF, Microsoft Software_internet_b Services/Softwar 42 Feb Teledacha Seed Fund Public 0.04 Startup Seed 2c e Other B2C Internet Software_internet_b Services/Softwar 43 Feb Yu-test Iidf Public 0.022 Startup Seed 2c e Software_internet_b Marketing/Advert 44 Feb Appfollow Iidf Public 0.022 Startup Seed 2b ising IIDF, Microsoft Software_internet_b 45 Feb Dreamroomer Seed Fund Public 0.04 Startup A 2c E-commerce Software_internet_b 46 Feb Happycart Iidf Public 0.022 Startup Seed 2c E-commerce IIDF, Microsoft Software_internet_b 47 Feb Petshotel Seed Fund Public 0.04 Startup Seed 2c E-commerce Software_internet_b 48 Feb Promarket Iidf Public 0.022 Startup Seed 2c E-commerce Software_internet_b Other B2B 49 Feb Scrut Iidf Public 0.022 Startup Seed 2b Software IIDF, Microsoft Software_internet_b Marketing/Advert 50 Feb Websemantics Seed Fund Public 0.04 Startup Seed 2b ising Software_internet_b 51 Feb Odarennyie Deti Iidf Public 0.022 Startup Seed 2c Social Media Software_internet_b Other Business 52 Feb Qubequ Iidf Public 0.022 Startup A 2b Software Software_internet_b Other B2B 53 Feb Pressindex Iidf Public 0.022 Startup Seed 2b Software Computer_technolo 54 Feb Strizh Iidf Public 0.022 Startup Seed gies_hardware Software_internet_b 55 Feb Rentcar Iidf Public 0.022 Startup Seed 2c E-commerce Software_internet_b Marketing/Advert 56 Feb Robolanding Iidf Public 0.022 Seed Seed 2b ising Software_internet_b 57 Feb Kartadoma Iidf Public 0.022 Startup Seed 2c E-commerce IIDF, Microsoft Software_internet_b Marketing/Advert 58 Feb Ceramarketing Seed Fund Public 0.04 Startup Seed 2b ising Software_internet_b 59 Feb Good Trade Iidf Public 0.022 Startup Seed 2c E-commerce IIDF, Microsoft Other_technolog 60 Feb Teslawatch Seed Fund Public 0.04 Startup Seed Other_technologies ies

IN PARTNERSHIP WITH 18 Dea Deal Company Investm l Investor № Project Investor Value, Developm ent Sector Sub-sector Dat Type Mln $ ent Stage Round e IIDF, Microsoft 61 Feb IIS Eldis Seed Fund Public 0.04 Startup Seed Other_technologies Other_technologies Chestnaya Software_internet_b 62 Feb Cena Iidf Public 0.022 Startup Seed 2b Marketing/Advertising MCI Management, Mangrove Capital Partners, ABRT Venture Fund, Software_internet_b 63 Mar Oktogo Ventech Private 5 Expansion C+ 2c E-commerce 64 Mar Ensol Founders Private 0.5 Startup A Industrial_tech Power Supply Tech Software_internet_b 65 Mar Promeo Private 0.018 Seed Seed 2c Social Media Software_internet_b Other B2C Internet 66 Mar Helpmed Private 1 Seed Seed 2c Services/Software

67 Mar Cartpay Co. Fasie Public 0.018 Seed Seed Industrial_tech Other Industrial Tech

68 Mar Cartpay Co. Private 0.06 Seed Seed Industrial_tech Other Industrial Tech Digital Society Software_internet_b 69 Mar Socialkey Ads Laboratory Corporate 3.5 Seed Seed 2b Marketing/Advertising Software_internet_b 70 Mar Promobit Kamaflow Private 0.2 Seed Seed 2b Other B2B Software Software_internet_b 71 Mar Codeweb Skolkovo Public 0.33 Seed Seed 2b Other B2B Software Columbus Nova, Almaz Capital Partners, Simile, Venture Partners, LETA Capital, I2BF Global Software_internet_b 72 Mar Double Data Ventures Private 3.3 Startup A 2b Other B2B Software 2be.Lu Investment, Bogdan Software_internet_b 73 Mar Ticketscloud Yarovoiy Private 0.3 Seed Seed 2b Platform/Middleware Electronic Eco- Software_internet_b 74 Mar Herd innovations Corporate 0.414 Seed Seed 2b Other Business Software Software_internet_b 75 Mar Trucker Path Renren Corporate 1.5 Startup A 2c Search/Recommendations Doctornet.Pro, Alexander Vorobev, Vitaly Software_internet_b Other B2C Internet 76 Mar Wedvice Fridzon Private 0.042 Seed Seed 2c Services/Software Software_internet_b Other B2C Internet 77 Mar Life.Film Alexey Karlov Angel 0.02 Seed Seed 2c Services/Software Software_internet_b 78 Mar Smart Wi-fi Private 0.07 Seed Seed 2b Marketing/Advertising Software_internet_b 79 Mar Vseveda Fasie Public 0.018 Seed Seed 2c Search/Recommendations Software_internet_b 80 Mar Mobiforce Fasie Public 0.018 Seed Seed 2b Other Business Software

IN PARTNERSHIP WITH 19 Dea Deal Company l Investor Investme № Project Investor Value, Developme Sector Sub-sector Dat Type nt Round Mln $ nt Stage e Bloomberg Platform/Middlew 81 Mar Solomoto Capital Private 8 Startup A Software_internet_b2b are Baseride 82 Mar Technologies Incuvest Private 0.6 Seed Seed Other_it Other_it Platform/Middlew 83 Mar Installtracker Angel 1 Seed Seed Software_internet_b2b are

84 Mar Amsrus The Untitled Private 0.01 Seed Seed Software_internet_b2c Social Media Other Business 85 Mar Tutzhdut The Untitled Private 0.01 Seed Seed Software_internet_b2b Software Ediniy Medicinskiy Search/Recomm 86 Mar Portal Angel 0.3 Seed Seed Software_internet_b2c endations Chistaya Venture Fund Of Other Industrial 87 Mar Planeta Promsvyazbank Corporate 0.025 Seed Seed Industrial_tech Tech

Biofund RVK, Modernization And Technology RTM Development Diagnostics & 88 Mar Diagnostika Fund Ppp 0.717 Seed A Biotechnology Research Altair Capital, Other B2B 89 Mar Arcycle Almaz Capital Private 0.6 Seed Seed Software_internet_b2b Software Net Element Other B2B 90 Mar Payonline International Corporate 8.5 Mature Exit Software_internet_b2b Software New Cloud Other Business 91Apr Technologies* Anton Cheglakov Angel 9.5 Startup A Software_internet_b2b Software Other Business 92Apr Group-ib Iidf Public 4 Expansion A Software_internet_b2b Software Marketing/Adverti 93Apr Clickky Itech Capital Private 2 Startup A Software_internet_b2b sing Other B2C Internet Services/Softwar 94Apr Comindware Angel, Skolkovo Ppp 1.18 Startup A Software_internet_b2c e Stanislav 95Apr Flowwow Kotomkin Angel 0.08 Seed Seed Software_internet_b2c E-commerce

96Apr Babytask Vasily Voropaev Angel 0.06 Seed Seed Software_internet_b2c Social Media Life.Sreda, Moscow Seed 97Apr Scorista Fund Ppp 0.24 Startup Seed Software_internet_b2c Finance

98Apr Sapato Kupivip Corporate 1 Mature Exit Software_internet_b2c E-commerce

99Apr 2do2go Fasie Public 0.225 Seed Seed Software_internet_b2c Social Media Skolkovo, Ruslan Other Business 100Apr Wimark Systems Smelyanskiy Ppp 0.12 Seed Seed Software_internet_b2b Software Other_technologi 101Apr Digifabster Angels Angel 0.1 Seed Seed Other_technologies es 102Apr Roster Angels Angel 0.25 Seed Seed Software_internet_b2c Social Media

IN PARTNERSHIP WITH 20 Deal Company Invest Deal Investor № Project Investor Value, Development ment Sector Sub-sector Date Type Mln $ Stage Round

Alexander Other Business 103Apr Polystock Khripunov Angel 0.1 Seed Seed Software_internet_b2b Software Computers & Encom Smart Computer_technologies Computer 104Apr Panel Fasie Public 0.02 Seed Seed _hardware Systems 105Apr Little Gentrys Maxim Faldin Angel 2 Seed Seed Software_internet_b2c E-commerce Other B2C Internet Services/Softwar 106Apr Ibinom Andrey Afanasiev Angel 0.3 Startup Seed Software_internet_b2c e Moscow Seed Fund, Pavel 107Apr Yaclass Kovsharov Ppp 0.24 Startup Seed Software_internet_b2c Education Marketing/Advert 108Apr Mediasync Private Investors Private 0.2 Seed Seed Software_internet_b2b ising Moscow School Of Management Skolkovo, Fund Of 109Apr Visionlabs Nubar Afeyan Private 0.014 Seed Seed Industrial_tech Robotics Wimark Other B2B 110Apr Systems** Skolkovo Public 0.094 Seed Seed Software_internet_b2b Software ETB Catalytic Other Industrial 111Apr Technology** Skolkovo Public 0.376 Startup Seed Industrial_tech Tech Vdm- Other Industrial 112Apr technique** Skolkovo Public 0.466 Startup Seed Industrial_tech Tech

113Apr Linguatrip 500 Startups Private 0.100 Seed Seed Software_internet_b2c E-commerce Valley Venture 114May Lobster Mentors Private 0.033 Startup Seed Software_internet_b2c E-commerce 115May Touch Bank OTP Bank Plc Corporate 40 Seed A Software_internet_b2c Finance 116May Level.Travel Sergey Vatutin Angel 0.6 Startup Seed Software_internet_b2c E-commerce Other Business 117May Kribrum Skolkovo, Infowatch Ppp 1 Seed Seed Software_internet_b2b Software

118May Anybalance QIWI Venture Corporate 0.15 Seed Seed Software_internet_b2c Finance Search/Recomm 119May Dogsy Evgeny Gordeev Angel 0.04 Seed Seed Software_internet_b2c endations Oleg Seidak, Ilya Platform/Middlew 120May Blackmoonfg Perekopskiy Angel 1 Seed Seed Software_internet_b2b are Search/Recomm 121May Tapki.Com Angel 0.06 Seed Seed Software_internet_b2c endations Vestor.In, The Platform/Middlew 122May Gbooking Untitled, Altair Private 0.425 Startup Seed Software_internet_b2b are Platform/Middlew 123May Open Platform Sergey Vasiliev Angel 1 Seed Seed Software_internet_b2b are Search/Recomm 124May Parkapp Sun Capital Private 0.3 Seed Seed Software_internet_b2c endations

Emery Capital, 125May Moneyman Vadim Dymov Private 6 Expansion B Software_internet_b2c Finance

IN PARTNERSHIP WITH 21 Deal Company Investm Deal Investor № Project Investor Value, Developmen ent Sector Sub-sector Date Type Mln $ t Stage Round

Runa Capital, Social Discovery 126May Lingualeo Ventures Private 0.5 Growth B Software_internet_b2c Education Starta Capital, Dmitry Chaliy, Alexander Tarakanov, Alexey Medical 127May Healbe Girin Private 3.5 Growth A Biotechnology Equipment Other B2C Internet Services/Softw 128May Medviser Roman Abramovich Angel 0.5 Seed Seed Software_internet_b2c are Almaz Capital Other B2B 129May Smtdp Partners Private 0.03 Seed Seed Software_internet_b2b Software Search/Recom 130May Whofix Dmitry Sinkevich Private 0.008 Seed Seed Software_internet_b2c mendations Bonum Capital (Suleyman 131May Aizel Kerimov) Private 2.5 Startup A Software_internet_b2c E-commerce

132May Privet.Ru Ilya Perekopskiy Angel 0.3 Seed Seed Software_internet_b2c Social Media Communication Computer_technologies s, Networking 133May Realspeaker Startup Chile Public 0.032 Seed Seed _hardware & Storage Development Of Service For Making Online Appointments To Medical 134May Dentistry Fasie Angel 0.008 Seed Seed Biotechnology Equipment Development Of Developmental 135May Mobile Game Fasie Angel 0.008 Seed Seed Software_internet_b2c Gaming Development Of Device For Vein Diagnostics & 136May Visualisation Fasie Angel 0.008 Seed Seed Biotechnology Research Development Of Voice Mobile App Other B2C For People With Internet Speech Services/Softw 137May Disorders Fasie Angel 0.008 Seed Seed Software_internet_b2c are Other B2B 138May Amenity Fasie Angel 0.008 Seed Seed Software_internet_b2b Software Medical 139May 3d-stomprint Fasie Angel 0.008 Seed Seed Biotechnology Equipment Platform/Middle 140May Transporttv** Skolkovo Public 0.099 Seed Seed Software_internet_b2b ware

Other B2B 141May Relex** Skolkovo Public 0.634 Startup Seed Software_internet_b2b Software

Other Business 142Jun Ivideon Impulse VC Private 4 Expansion B Software_internet_b2b Software

IN PARTNERSHIP WITH 22 Deal Company Investm Deal Investor № Project Investor Value, Development ent Sector Sub-sector Date Type Mln $ Stage Round

ALTAIR CAPITAL, GVA LAUNCHGURUS, DEFTA Partners, Nest HK, Business Angels From Berkeley Angels, Keiretsu Forum And Marketing/A 143Jun 1world Online Others Private 2.5 Expansion A Software_internet_b2b dvertising Search/Rec ommendatio 144Jun Turbodealer IIDF, Microsoft Ppp 0.031 Seed Seed Software_internet_b2c ns

145Jun Technovizor IIDF, Microsoft Ppp 0.031 Seed Seed Other_it Other_it Other B2C Internet Services/So 146Jun Teamkey IIDF, Microsoft Ppp 0.031 Seed Seed Software_internet_b2c ftware Other B2B 147Jun Nitrosbase.Js IIDF, Microsoft Ppp 0.031 Seed Seed Software_internet_b2b Software Computers Computer_technologies & Computer 148Jun Inhome IIDF, Microsoft Ppp 0.031 Seed Seed _hardware Systems Other B2B 149Jun Cloudstats IIDF, Microsoft Ppp 0.031 Seed Seed Software_internet_b2b Software Enterprise Manageme 150Jun Dooglys IIDF, Microsoft Ppp 0.031 Seed Seed Software_internet_b2b nt Software

151Jun Bikedefend IIDF, Microsoft Ppp 0.031 Seed Seed Other_it Other_it I2BF Global Ventures, Eldar 152Jun Aeroxo Razroev, Skolkovo Ppp 1.091 Seed Seed Industrial_tech Robotics Marketing/A 153Jun Retailcrm Edison.Vc Private 0.6 Growth A Software_internet_b2b dvertising Medical 154Jun Test-lab (Khimservice) Skolkovo Public 0.91 Seed Seed Biotechnology Equipment

155Jun A2 Leasing System Iidf Ppp 0.02 Seed Seed Software_internet_b2b Finance Computer_technologies Mobile 156Jun Comfortway Iidf Ppp 0.02 Seed Seed _hardware Technology Search/Rec ommendatio 157Jun Iatra Iidf Ppp 0.02 Seed Seed Software_internet_b2c ns

158Jun Inwion Iidf Ppp 0.02 Seed Seed Other_it Other_it Marketing/A 159Jun Slidevision Iidf Ppp 0.02 Seed Seed Software_internet_b2b dvertising

Marketing/A 160Jun Supl.Biz Iidf Ppp 0.02 Seed Seed Software_internet_b2b dvertising

IN PARTNERSHIP WITH 23 Deal Company Deal Investor Investment № Project Investor Value, Developmen Sector Sub-sector Date Type Round Mln $ t Stage Software_internet_b 161Jun Tvil.Ru Iidf Ppp 0.02 Seed Seed 2c Finance Other B2C Internet Software_internet_b Services/Softwar 162Jun «Aksicredit» Iidf Ppp 0.02 Seed Seed 2c e Software_internet_b Marketing/Advert 163Jun «Advokat.Ru» Iidf Ppp 0.02 Seed Seed 2b ising Other B2C Internet Software_internet_b Services/Softwar 164Jun Beguchka Iidf Ppp 0.02 Seed Seed 2c e Software_internet_b Marketing/Advert 165Jun Courierra Iidf Ppp 0.02 Seed Seed 2b ising Other B2C Internet Software_internet_b Services/Softwar 166Jun Labrika Iidf Ppp 0.02 Seed Seed 2c e

Open Cemetery (Otkrytoye Software_internet_b Marketing/Advert 167Jun Kladbische) Iidf Ppp 0.02 Seed Seed 2b ising Software_internet_b Marketing/Advert 168Jun Fitness-clubs.Pro Iidf Ppp 0.02 Seed Seed 2b ising Software_internet_b Marketing/Advert 169Jun Sponsorbureau #1 Iidf Ppp 0.02 Seed Seed 2b ising Software_internet_b 170Jun Teleport Iidf Ppp 0.02Seed Seed 2b Finance RMG Partners, Software_internet_b 171Jun Bookinna Ventureclub Private 0.2Startup Seed 2c E-commerce Other B2C Internet Software_internet_b Services/Softwar 172Jun Freee Socialbox Mikhail Klimarev Angel 0.046Seed Seed 2c e Software_internet_b Platform/Middlew 173Jun Onlinepatent** Skolkovo Public 0.092Seed Seed 2b are

174Jun Nfware** Skolkovo Public 0.092Seed Seed Other_it Other_it Digital Loyalty Software_internet_b Other B2B 175Jun System** Skolkovo Public 0.092Seed Seed 2b Software Satellites & 176Jun Megarad** Skolkovo Public 0.092Seed Seed Industrial_tech Space 3d Bioprinting Medical 177Jun Solutions** Skolkovo Public 0.358Seed Seed Biotechnology Equipment Other_technologi 178Jun Membrany - NC** Skolkovo Public 0.380Seed Seed Other_technologies es Other Industrial 179Jun Marineco** Skolkovo Public 0.516Seed Seed Industrial_tech Tech Software_internet_b Other B2B 180Jun Webkontrol** Skolkovo Public 0.092Seed Seed 2b Software

IN PARTNERSHIP WITH 24 Deal Company Deal Investor Investment № Project Investor Value, Developme Sector Sub-sector Date Type Round $M nt Stage

Human Stem Diagnostics & 181 Jul Cells Institute Fasie Public 0.21 Seed Seed Biotechnology Research

Other_technologie Other_technolog 182 Jul Creopop Haxasia Private 1.40 Startup A s ies

Altera Capital, Evgeny Software_internet 183 Jul Coursmous Medvednikov Private 0.85 Seed Seed _b2c Education

Software_internet Platform/Middle 184 Jul Cappasity Na Angel 0.10 Seed Seed _b2b ware Itech Capital, Techstars, Irish Angels, Sam Yagan, Software_internet 185 Jul Tradingview Steve Farsht Private 3.60 Startup A _b2c Social Media

Skolkovo, Private Software_internet Other B2B 186 Jul Group-ib Investor Ppp 0.18 Expansion B _b2b Software

Almaz Capital Partners, Software_internet Platform/Middle 187 Jul Cinarra Systems Siguler & Guff, Softbank Private 20.00 Expansion B _b2b ware

Software_internet Marketing/Advert 188 Jul Mobi Sharks Mikhail Maliy Angel 0.50 Seed Seed _b2b ising Baring Vostok Capital Partners, Almaz Capital Software_internet 189 Jul Carprice Partners Private 40.00 Growth B _b2c E-commerce

Software_internet 190 Jul Linguachat Na Angel 0.30 Seed Seed _b2c Education

Software_internet 191 Jul Jetsmarter Goldman Sachs, Twitter Corporate 20.00 Expansion B _b2c E-commerce

Kirill Podolskiy, Vladimir Software_internet Search/Recomm 192 Jul Myhomeday Silkin Angel 3.00 Startup A _b2c endations Guard Capital, Pavel Doctor Na Yunin, Stanislav Sazhin, Software_internet Search/Recomm 193 Jul Rabote Ilya Kupriyanov Private 2.50 Growth B _b2c endations

Other_technologie Other_technolog 194 Jul Inpulse Zelenograd Nanocenter Ppp 0.05 Seed Seed s ies

Software_internet Other Business 195 Jul Helgilab Skolkovo Ppp 0.50 Seed Seed _b2b Software

Emin Garaev, Private Software_internet 196 Jul Mambo24 Investors Private 1.20 Startup A _b2c E-commerce Other B2C Internet Software_internet Services/Softwar 197 Jul Concertwithme 500startups Private 0.20 Seed Seed _b2c e Software_internet Other Business 198 Jul Menuforyou Kamaflow Private 0.40 Seed Seed _b2b Software

IN PARTNERSHIP WITH 25 Deal Company Deal Investor Investme № Project Investor Value, Developmen Sector Sub-sector Date Type nt Round Mln $ t Stage 199 Jul Babytask Andrey Zinoviev Angel Growth A Software_internet_b2c E-commerce Vladimir Lupenko, Other B2B 200 Jul Aktivo Oskar Hartmann Angel 1.30 Seed Seed Software_internet_b2b Software Other B2B 201 Jul Immunocloud Skolkovo, EMC Public 0.09 Seed Seed Software_internet_b2b Software Other B2B 202 Jul Ibinom Skolkovo, EMC Public 0.09 Seed Seed Software_internet_b2b Software Diagnostics & 203 Jul Biosoft.Ru Skolkovo, EMC Public 0.09 Seed Seed Biotechnology Research Other B2B 204 Jul Brain Target Skolkovo, EMC Public 0.09 Seed Seed Software_internet_b2b Software Search For Allelic Diagnostics & 205 Jul Mutations Skolkovo, EMC Public 0.09 Seed Seed Biotechnology Research

206 Jul Chance2live Emc Public

207 Aug Liguatrips 500startups Angel 0.10 Seed Seed Software_internet_b2c Education Belki- Diagnostics & 208 Aug biotechnology Rosnano Public 0.00 Seed Seed Biotechnology Research Other B2C Internet Driveway Ervington Services/Softwar 209 Aug Software Investments Private 10.00 Growth A Software_internet_b2c e Photobank Content 210 Aug Lori Legion-media Corporate 0.42 Startup A Software_internet_b2c Providers Other B2C Internet Chernovetskyi Services/Softwar 211 Aug Kidio'z Investment Group Private Software_internet_b2c e Moscow Seed Fund, Oleg 212 Aug Takebus.Ru Evseenkov Ppp 0.05 Seed Seed Software_internet_b2c E-commerce Other B2C Internet Starta Capital, Services/Softwar 213 Aug Geocv Emery Capital Private 1.15 Startup A Software_internet_b2c e Other B2B 214 Aug Saas.Ru Lpgenerator Corporate 0.31 Startup Exit Software_internet_b2b Software SAIC Capital, Intel Capital, Alpine Technology Fund, Motorola Communications, Solutions Venture Computer_technologies Networking & 215 Aug Api.Ai Capital Private 3.00 Growth A _hardware Storage The Untitled, Platform/Middlew 216 Aug Junglejobs Impulse VC Private 0.50 Growth B Software_internet_b2b are Marketing/Adverti 217 Aug Data Machine Digital Mind Corporate Seed Seed Software_internet_b2b sing Platform/Middlew 218 Aug Axiomatika Microsoft Corporate Startup Seed Software_internet_b2b are Other Industrial 219 Aug Almalence Inc. Intel Capital Corporate Growth A Industrial_tech Tech Skolkovo, Sergey Satellites & 220 Aug Lin Industrial Burkatovskiy Ppp 0.16 Seed Seed Industrial_tech Space Microsoft Imagine 221 Aug Izhard Ovivo Cup Corporate 0.05 Seed Seed Software_internet_b2c Gaming

IN PARTNERSHIP WITH 26 Deal Company Deal Investor Investment № Project Investor Value, Developme Sector Sub-sector Date Type Round Mln $ nt Stage

Pomogatel Software_internet_b 222 Aug Cleaning** Pomogatel.Ru Corporate 0.01 Seed Seed 2c E-commerce Upsteks Other_technologi 223 Aug Labs Skolkovo Public 0.08 Seed Seed Other_technologies es Sensor Spin Technologi Other Industrial 224 Aug es Skolkovo Public 0.08 Seed Seed Industrial_tech Tech Center Of Scientific And Technical Developme 225 Aug nt Skolkovo Public 0.08 Seed Seed Industrial_tech Laser Tech Software_internet_b Marketing/Advert 226 Aug Mediasniper Dmitry Turkevich Angel Seed Seed 2b ising Inoventica Technologi Software_internet_b Other Business 227 Aug es Maksim Korobov Angel 0.76 Seed Seed 2b Software Grid Manageme Power Supply 228 Aug nt System Ural Federal University Public 0.00 Seed Seed Industrial_tech Tech

229 Aug Examus Ural Federal University Public 0.00 Seed Seed Other_it Other_it Communications, Computer_technologi Networking & 230 Aug Exepto XBT Holding S.A. Corporate 0.80 Seed Exit es_hardware Storage Orbimed, Sanofi- genzyme Bioventures, Ridgeback Capital Management, Osage University Partners, AJU IB Investment, Sphera Global Health 231 Sep Selecta Care Fund Private 38.00 Mature C+ Biotechnology Pharmaceuticals Software_internet_b Marketing/Advert 232 Sept Beaconka Fasie Public 0.14 Seed Seed 2b ising Software_internet_b Marketing/Advert 233 Sept Ro!Rs Calltouch (CT) Corporate 0.30 Seed Seed 2b ising Software_internet_b Search/Recomm 234 Sept Edadeal Yandex Corporate Mature C+ 2c endations Other Business 235 Sept Mobiliuz Ibm Corporate 0.12 Seed Seed Other_it Software Enterprise Software_internet_b Management 236 Sept Idealist Ibm Corporate 0.12 Seed Seed 2b Software Software_internet_b Other B2B 237 Sept Clevapi Ibm Corporate 0.12 Seed Seed 2b Software Software_internet_b Search/Recomm 238 Sept Pet-doctor Ibm Corporate 0.12 Seed Seed 2c endations Software_internet_b Other B2B 239 Sept Directual Ibm Corporate 0.12 Seed Seed 2b Software

IN PARTNERSHIP WITH Software_internet_b Marketing/Advert27 240 Sept Virool Flint Capital Private 5.00 Expansion A 2b ising Deal Company Deal Investor Investment № Project Investor Value, Developme Sector Sub-sector Date Type Round Mln $ nt Stage Central Factory Moscow Seed Of Ready Fund, Biofund Diagnostics & 241 Sept Environments RVK Public 0.18 Startup Seed Biotechnology Research Buran Venture Capital, Thomas Platform/Middlew 242 Sept Getintent Falk Private 1.00 Startup B Software_internet_b2b are Marketing/Advert 243 Sept Sociate 404 Group Private Seed Seed Software_internet_b2b ising Content 244 Sept Wp-media 404 Group Private Seed Seed Software_internet_b2c Providers Chernovetskyi 245 Sept Busfor Investment Group Private 1.00 Expansion B Software_internet_b2c E-commerce

246 Sept Technovizor* Microsoft Corporate 0.24 Seed Seed Other_it Other_it Search/Recomm 247 Sept Turbodealer* Microsoft Corporate 0.24 Seed Seed Software_internet_b2c endations Search/Recomm 248 Sept Prodai.Ru Na Private 0.45 Seed Seed Software_internet_b2c endations Advаnced 249 Sept Dental Cloud Microsoft Corporate 0.13 Seed Seed Other_it Other_it Search/Recomm 250 Sept Now (Seichas) Na Angel 0.01 Seed Seed Software_internet_b2c endations Content 251 Sept Yod Na Startup Exit Software_internet_b2c Providers 252 Sept Panda Money QIWI Venture Corporate 0.10 Startup Seed Software_internet_b2c Finance Moscow Seed Content 253 Sept Mix Upload Fund, Altair VC Ppp 0.02 Startup A Software_internet_b2c Providers Other_technologi 254 Sept Qiwi Post Integer Pl Corporate Growth Exit Other_technologies es 255 Sept Paybrain Na Private 0.01 Seed Seed Software_internet_b2c Social Media Platform/Middlew 256 Sept Navigine Ayr Private Startup A Software_internet_b2b are 257 Sept 7tons Studio GS Venture Corporate 0.20 Expansion A Software_internet_b2c Gaming Buran Venture Content 258 Sept Ivi.Ru Capital Private 3.50 Mature C+ Software_internet_b2c Providers Other B2C Internet Services/Softwar 259 Sept Life.Film Alexey Karlov Angel Startup Exit Software_internet_b2c e 260 Sept 2can & Ibox Na Private 3.00 Expansion C+ Software_internet_b2c Finance Inventure Partners, Saatchinvest, Force Over Mass Capital, Nikil Ritata, Lee Nadson, Richard Marketing/Advert 261 Sept Ometria Fattal Private 2.50 Seed Seed Software_internet_b2b ising Other_technologi 262 Sept Lapka Airbnb Corporate Startup Exit Other_technologies es GVA Launchgurus Platform/Middlew 263 Sept Apps4all Fund 1 Private 0.25 Expansion C+ Software_internet_b2b are 264 Sept Iridium Mobile Skolkovo Public 0.31 Seed Seed Other_it Other_it

IN PARTNERSHIP WITH 28 Dea Deal Company l Investor Investment № Project Investor Value, Developme Sector Sub-sector Dat Type Round Mln $ nt Stage e

265 Oct Cossa Andrey Terekhov Angel 0,2Expansion B Software_internet_b2c Content Providers Oradell Capital, Platform/Middlewar 266 Oct Jazva Gor Nakhapetyan Funds 2Startup A Software_internet_b2b e Marketing/Advertisi 267 Oct Triggmine Бизнес-ангел Angel 0,3Growth A Software_internet_b2b ng Wcw-venture Other B2C Internet 268 Oct Hudway Glass Holding Funds 0,7Startup A Software_internet_b2c Services/Software Other B2C Internet 269 Oct Avtostekloff Business-angel Angel 0,15Startup A Software_internet_b2c Services/Software Maxfield Capital, Sun Capital, Alexander Menn Other Business 270 Oct Mercaux And Others Funds 0,8Startup A Software_internet_b2b Software

271 Oct Ibank Dmitry Kaminsky Angel 10Expansion B Software_internet_b2c Finance Platform/Middlewar 272 Oct Fynd Alexandr Mamut Corporate 0,3Startup Seed Software_internet_b2b e

273 Oct Krawlly Ibank Corporate 0,3Growth B Software_internet_b2c Finance Solix Biosistems 274 Oct Vostok Solix Algridients Corporate 5,000Startup Seed Biotechnology Pharmaceuticals Veneto, Informatsionnye 275 Oct Luciding Tekhnologii Corporate 0,017Startup Seed Industrial_tech Nanotech Business-angel, 276 Oct Mygenetics IIDF Ppp 0,040Growth B Biotechnology Healthcare

277 Oct Urbanobserver Cybernaut Funds 70,000 Expansion Seed Industrial_tech Satellites & Space Survival Russian 278 Oct App Enterprise Ireland State 0,055Seed Seed Software_internet_b2c Education

279 Oct Icard Enterprise Ireland State 0,055Seed Seed Software_internet_b2c Finance

280 Oct Smart Mafia Bogdan Yarovoy Angel 0,300Startup A Software_internet_b2c Gaming Ru-net, Baring Marketing/Advertisi 281 Oct 2gis Vostok Funds 40Expansion C+ Software_internet_b2b ng Business-angel, 282 Oct Mygenetics IIDF Angel 0,040Growth B Biotechnology Healthcare Biofund RVC, Moscow Seed 283 Oct Ekzoatlet Fund Funds 0, 229Startup A Biotechnology Medical Equipment Evgeniy Slobobodyanuk, 284 Oct Vitamins.Ru Marina Polskaya Angel 0,50 Startup B Software_internet_b2c E-commerce Almaty Tech Other B2C Internet 285 Oct Vaipoing Garden Funds 2,00 Growth A Software_internet_b2c Services/Software Almaty Tech Search/Recomme 286 Oct Entalapp Garden Funds 2,00 Growth B Software_internet_b2c ndations Search/Recomme 287 Oct Skypasser.Ru Funds 0,30 Startup A Software_internet_b2c ndations

IN PARTNERSHIP WITH 29 Deal Company Deal Investor Investment № Project Investor Value, Developme Sector Sub-sector Date Type Round Mln $ nt Stage

Enterprise Management 288 Nov Mirantis Russia Partners Funds 10,00Expansion C+ Software_internet_b2b Software

Search/Recomm 289 Nov Arenda Business-angel Angel 3,00 Startup A Software_internet_b2c endations

Search/Recomm 290 Nov Gettable Addventure Funds 1,00 Startup A Software_internet_b2c endations

Investor Club Skolkovo, 291 Nov Eduson.Tv Smarthub Angel Growth B Software_internet_b2c Education

Boris Ryabov, 292 Nov Elementaree Alexey Menn Angel 0,30 Startup A Software_internet_b2c E-commerce

VC Fund Of Other_technologi 293 Nov Cote D'azur Promsvyazbank Corporate 0,078Expansion B Other_technologies es

Mikhail Zak, Ivan Podfigurny,evgen 294 Nov Endurance iy Krivoschekov Angel 0,021Seed Seed Industrial_tech Laser Tech

295 Nov Avirton Business-angel Angel 1,000Seed Seed Software_internet_b2c Social Media Platform/Middlew 296Nov Legalspace Vasiliy Voropaev Angel 0,200Startup A Software_internet_b2b are Beautydiscountc 297Nov enter Business-angel Angel 0,041Expansion B Software_internet_b2c E-commerce Other_technologi 298Nov Tisk Na Spletu Konstantin Puppo Angel 1,200Startup A Other_technologies es

Other B2C Internet Services/Softwar 299Nov Jeapie Digital Future Funds 0,050Growth B Software_internet_b2c e

300Nov Shefmarket Addventure Funds 4,000Expansion B Software_internet_b2c E-commerce Computers & Undisclosed Computer_technologies_ Computer 301Dec Cappasity Angel Investors Angel 0,15Seed Seed hardware Systems

The Unitled Retail Search/Recomm 302Dec Radme.Ru Lab Funds 0,5Seed Seed Software_internet_b2c endations

Altair Capital, Smarthub, Dmitry Marketing/Adverti 303Dec Hiconversion Anchutkin Funds 0,50Growth Seed Software_internet_b2b sing

Beautydiscountc Starttrack 304Dec enter (Crowdfunding) Funds 0,007Seed Seed Software_internet_b2c E-commerce

IN PARTNERSHIP WITH 30 Deal Company Deal Investor Investment № Project Investor Value, Developm Sector Sub-sector Date Type Round Mln $ ent Stage Starttrack Platform/Middlewar 305Dec Polystock (Crowdfunding) Funds 0,014Seed Seed Software_internet_b2b e Other B2C Internet 306Dec Turbodealer Iidf State 0,211Startup Seed Software_internet_b2c Services/Software

307Dec Ekat Infrafund RVC State 0,500Startup B Industrial_tech Green Tech

308Dec Preggie Altair Capital Funds 1,0Startup Seed Software_internet_b2c Social Media

309Dec E-contenta Untitle Retail Lab Funds 0,25Startup A Software_internet_b2b Other B2B Software Nanopharma 310Dec Development Izvarinopharma Strategic 2,182Expansion B Biotechnology Pharmaceuticals Other B2C Internet 311Dec Ilean Business-angel Angel 0,022Startup Seed Software_internet_b2c Services/Software

Other Industrial 312Dec Eltechprogress Infrafund RVC State 0,500 Seed Seed Industrial_tech Tech Other Industrial 313 Dec Atm&c Infrafund RVC State 0,5Startup C+ Industrial_tech Tech Moscow Technological Other Industrial 314 Dec Any Walker Institute State 0,043Startup Seed Industrial_tech Tech Moscow Technological 315 Dec Nvr Institute State 0,086Startup Seed Software_internet_b2c Gaming Moscow Technological Institute, KSI 316 Dec Bitronics Ventures State 0,143Startup Seed Biotechnology Medical Equipment

IN PARTNERSHIP WITH 31 Select articles: The Russian venture scene in 2015

IN PARTNERSHIP WITH 32 Select articles: The Russian venture scene in 2015

In 2015, Russian funds continued to invest in international startups while the domestic venture market declined

By Adrien Henni, East-West Digital News / January 19, 2016

1. Russian funds continued to invest in Russian holding company which had thus far made international startups investments essentially in the Russian real estate and financial sectors — injected at least $20 million in foreign tech startups at the pre-IPO stage. The invest-abroad trend among funds with Russian backers or managers, which began several years Other internationally active Russian funds, or funds ago, continued or even accelerated in 2015. with Russian backers, included Almaz Capital, Altair, Bright Capital, LifeSreda, Maxfield While Russian investors initially targeted Capital, Runa Capital, TMT Investments, Vaizra essentially US startups, virtually all regions were Investments, and SBT Venture Capital, the venture concerned last year – fromIsrael,to South-East arm of Russia’s national savings bank Sberbank. Asia, to India, to Western Europe. Several of these funds initially aimed to invest in Among the largest deals announced in 2015 were Russia. They shifted their attention to the global the following: market as exit prospects on the Russian startup In January, Buran Capital contributed $8.5 scene became less obvious than a few years ago. million to a Shazam funding round. Serial entrepreneurs and business angel Pavel In July BitFury, a major Bitcoin Blockchain Cherkashin launched Vestor.in, an internationally- infrastructure provider and transaction processing oriented fund with a $30 million target. “We’re not company, secured $20 million in funding from going to invest in Russian startups anymore. There Russia’s iTech Capital, Georgian Co-Investment are no exits possibilities in this country, even if you Fund and DRW Venture Capital. build a successful business,” not to mention the legal, currency and political risks, he stated. In December, Target Global, an international venture fund with Russian backers, spent $13 Russian oligarchs also made notable moves on the million to acquire a 0.65% stake in US food international high tech scene. In April, Russian delivery startup Blue Apron. billionaire Roman Abramovich invested $15 million in Israeli startup Music Messenger. A few Target Global’s previous investments in the USA, months later, his company Ervington in June 2015, went to Prosper, a leading US peer- Investments led a $10 million funding round for to-peer lending marketplace. Target Global Driveway Software, a Silicon Valley telematics also took part in a $2 million round for Nestpick, a startup, and a $21 million round for Israeli startup German startup. Anyclip Media, among other deals.

IN PARTNERSHIP WITH 33 Select articles: The Russian venture scene in 2015

Two other Russian billionaires, Alisher Usmanov million or more” in Virtus.pro via its holding USM. and Ziyavudin Magomedov, invested significant Launched in 2003, this popular e-sports resource amounts in Uber, via their investment vehicles organizes multiplayer video game competitions, USM and Caspian VC, respectively. USM particularly between professional players. investment, which reportedly amounted to several That same month, 2GIS secured $40 million from dozens of million USD, was kept confidential until two major investment funds, Baring Vostok Capital early 2016, when it was revealed by the Russian Partners and Ru-Net. Launched in 1999, this media. Novisibirsk, Siberia-based company, is bold Meanwhile Yury Milner’s DST, which pioneered enough to compete with the mapping services of Russian tech investment abroad, launched its fifth Yandex and Google. It is now developing across fund in August 2015 without Russian money. three continents. Confirming that the Russian venture industry was 2. The domestic venture market far from agonizing, several venture funds launched in 2015. Among them were B2B Lab, focusing on declined in quantitative terms but saw B2B, and Primer Capital, which specializes some unexpected positive in medicine and biotech. Meanwhile, Dagestani developments oligarch Ziyavudin Magomedov announced his intention to invest “up to $300 million” in startups from Russia and other countries. His new fund, According to RMG Partners, the number of deals christened Caspian VC Partners (CVC), and investor exits decreased in 2015, essentially already invested in Uber, Uber China, Peek.com due to the shrinking of government investment. In and Hyperloop. the meantime, angel investors and crowdfunding Russian startups also received support from some platforms continued to develop. corporations, as exemplified in Moscow by the In early 2015, disconfirming the widespread view launch of IKEA’s startup accelerator, Intel’s IoT that Russian e-commerce market has lost any Lab, and a startup-oriented restaurant business appeal to venture investors, luxury fashion retailer school. Meanwhile, Qiwi Ventures, the investment Aizel.ru received a capital injection of €2.5 million, arm of Russian electronic payment the first tranche of an investment of up to €25 giant Qiwi, launched a new acceleration program, million over three years. The funds were provided chirstened ‘Universe 2.0.’ by asset management firm Bonum Capital. In July, after several quarters of decline of private investment, some optimism returned to the Russian venture market when CarPrice.ru, a major Russian online broker of used car, raised $40 million in a Series B funding round. The round was led by Baring Vostok Private Equity Fund V with the participation of Almaz Capital and other unnamed investors. Other important deals involved mature companies. In October, Russian billionaire Alisher Usmanov announced an investment of “$100

IN PARTNERSHIP WITH 34 Select articles: The Russian venture scene in 2015

Venture capitalists turn away from Russian e-commerce while offline retailers demonstrate renewed activity

By Adrien Henni, East-West Digital News / March 11, 2016

Last year saw paradoxical investment trends in “The market situation was very favorable at that Russia’s young e-commerce industry, with time,” recalls Alexandra Rasskazova, an advisor venture and private equity investment continuing to German-American fund e.Ventures, which to fall while a range of offline players started or invested in several Russian Internet companies, resumed online projects. including Sapato and Teamo.ru. “As many business models (e.g. Zappos) had not been On the venture side, investment reached historic applied yet to Russia, competition was relatively lows. According to RMG Partners’ preliminary low while Internet usage in the country and the estimates, just 42 deals were closed, totaling $137 population’s purchasing power were growing million — down from 68 deals and $390 million in steadily.” 2014. The decline was particularly notable in the segment of physical goods, with 15 deals reaching a mere $104 million, down from 36 deals ($319 million) during the previous year. The decrease in Unfavorable conditions investment amounts year-on-year is attributable Today’s conditions are radically different: “The partly to the depreciation of the Russian currency majority of successful western business models (approximately 62 rub. per USD in 2015 vs. 38 have been built – and those which have not yet rub. per USD in 2014). been tried are not that interesting to venture One may remember with nostalgia the period investors, i.e. are unlikely to generate $100 million between 2010 and 2014, when e-commerce in the or more in four or five years. Meanwhile, VCs tend broad sense was the major destination for venture to better understand the concrete challenges investment in Russia. The largest deals of these faced by e-commerce companies in Russia,” golden years, involving both foreign and domestic Rasskazova notes. investors, were the $130 million capital injection in In the field of physical e-commerce, developing a Lamoda in June 2013 and Ozon’s $150 million company requires a long period of time with round in the spring of 2014. substantial investment in infrastructure, while exit Such companies as KupiVIP and Wikimart also prospects are not obvious. received considerable amounts, exceeding or In the field of digital e-commerce, online nearing $100 million in total over for each of them marketing is expensive and the market is not that over these years. large. “Here Avito, which operates in a slightly different segment, is the exception rather than the rule,” Rasskazova says.

IN PARTNERSHIP WITH 35 Select articles: The Russian venture scene in 2015

Founded in 2007, this online classifieds platform was sold last year to international group Naspers at a $2.7 billion valuation. The current crisis has brought even more uncertainty to the market: “Even buying decisions of the population are hard to predict now,” Rasskazova notes. David Waroquier of Mangrove Capital Partners — which has invested in KupiVIP and Oktogo — sees the main challenge in “the lack of prospects for later stage investment and exit.” This is enough to deter most early-stage investors. The international tensions, which have been bubbling since the Ukrainian crisis started in 2014, “are not helping, of course,” notes Waroquier. “With very few exceptions, international investors have put their strategy in Russia on hold until the situation is finally settled.” “Western capital markets are completely closed to Russian companies for the moment,” confirms another international investor, who regards Ulmart’s IPO plans as “fantasies.” Russian investors themselves turned away from their domestic market, opting massively for international startups. Thus Ru-Net has made several investments in Indian and Turkish e- commerce companies. True, this Moscow-based fund has also invested in Russian online retail companies (such as Esky and TrendsBrands in 2013) — but much more modest amounts were involved. international investor, who regards Ulmart’s IPO plans as “fantasies.” Russian investors themselves turned away from their domestic market, opting massively for international startups. Thus Ru-Net has made several investments in Indian and Turkish e- commerce companies. True, this Moscow-based fund has also invested in Russian online retail companies (such as Esky and TrendsBrands in 2013) — but much more modest amounts were involved.

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A brighter future? offline sales has made it more difficult to keep developing their offline chain in a financially The situation is likely to improve in the future, sustainable way. As a result, these retailers have however, Rasskazova and Waroquier believe, as got more money and management resources e-commerce penetration rates will grow in Russia available for their e-commerce projects, and consumption will resume after the crisis. Ovchinnikov explains. While large Russian corporations might be more In certain non-food segments, however, the crisis willing to buy startups, foreign players will see the has led some players to refocus on their offline Russian market in a more favorable light as soon channel, which appears to be more competitive, as the tensions will ease. the expert notes. “From an e-commerce perspective, Russia Demonstrating nevertheless a solid faith in the remains a very attractive market. Most e- future, some omnichannel players continue to commerce big names in Russia have shown invest in giant fulfilment centers. In 2015 Leroy strong revenue progression in 2015, especially Merlin started building a 100,000 sq. those fulfilling elementary consumption needs like m. warehousing facility in Domodedovo – the retail and apparel,” notes Waroquier, largest retail distribution center in Russian history citing KupiVip’s 50% revenue growth and break and the largest retail warehouse deal in the world even last year. in 2015, according to Radius Group, the US Waroquier does not even rule out new investments company which is conducting the project. from his fund in the short term: “We are carefully Meanwhile, in late 2015, Ulmart opened a 25,500 monitoring how market conditions are developing, sq. m. fulfilment center in St. Petersburg. The and keep following up Russian startups, especially company plans to open two additional logistics those which target the global market. We are still centers in the near future in Mytishchi and very open to good investment opportunities.” Domodedovo on the outskirts of Moscow. No less than 30 logistics centers will be required to Offline retailers go online reach the company’s ambitious turnover target of Meanwhile, food and FMCG retailers are showing 300 to 500 billion rubles (from $4 billion to $6.8 renewed interest in developing online sales. “This billion at the current exchange rate), Ulmart’s is an impressive new wave,” says Data Insight co- chairman Dmitry Kostygin recently told the founder Boris Ovchinnikov, citing moves from a Russian media. range of important players. Recently, Perekrestok (X5 Group) hired a high-level e-commerce manager, while Magnit began testing online orders. Another retail chain, Lenta, could launch online sales as soon as this year. On its side, Okey is already promoting actively its e-commerce service, after a test period last year. ” By traffic levels, this site is already second after Utkonos,” the most established player in online groceries, notes Ovchinnikov. For several offline retailers, the stagnation of

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Naspers acquires controlling stake in Avito.ru in one of Europe’s largest startup exits

By Adrien Henni, East-West Digital News / October 23, 2015

Naspers announced today a $1.2 billion A Russo-Swedish success story transaction to become the largest shareholder in One of the most successful Internet companies in Russia’s leading online classifieds site Avito.ru — Russia, Avito was founded in 2007 by Swedish just weeks after the company aired its IPO plans. businessmen Filip Engelbert and Jonas After buying shares from existing shareholders, Nordlander. In 2011, Swedish investment company Naspers will increase its stake from 17.4% to Vostok Nafta Investment, one of its early 67.9% on a fully diluted basis. investors, called it the “real romance” of its Kinnevik is selling its entire 31% stake to the South portfolio. African giant for $846 million, and Accel Partner In May 2012, Avito.ru secured $75 million from and Northzone are also fully exiting the Baring Vostok Private Equity Fund IV and Accel business, Tech.eu has confirmed. The deal, Partners as well as from existing investors which values Avito at some $2.7 billion, is one of Kinnevik and Northzone. the largest European VC-backed company exits ever. In March 2013, Avito merged with its competitors Slando.ru and OLX.ru, creating the fifth most Naspers expects to “strengthen its position as popular Russian website and one of the world’s top global leader in online classifieds.” classifieds websites. As part of the deal, valued at “The Russian e-commerce market is expected to more than $570 million, Naspers — which owned grow significantly, with more people gaining online Slando.ru and OLX.ru — invested $50 million in access. Over time, ecommerce ratios should move cash into Avito in exchange for a stake in the new in line with other large countries,” said the group’s group. CEO Bob van Dijk. Over the past years, the company expanded into “We believe this deal is mutually beneficial, and, classifieds verticals and now is a leading player in from our perspective, we welcome Naspers’s very five verticals: General Goods, Auto, Real Estate long-term view on Russia and especially on Avito”, (including Domofond.ru), Jobs and Services. says Filip Engelbert, CEO and co-founder of Avito, The platform kept growing amid the crisis that hit who will retain his position. the Russian economy in 2014-2015. The transaction is still subject to approval by the competent South African authorities. The acquisition may initially be funded from Naspers’s existing cash resources and debt facilities, but the group stated that it is “currently evaluating suitable long-term funding alternatives” to avoid “increasing its existing debt profile in the medium term.”

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The company reported revenues of $76.5 million valued at $158.73 million, according to the for full year 2014, up 76% from the previous year, financial reports of one of its shareholders. with an EBITDA margin of 50.6%, Naspers TNS estimated Avito.ru’s monthly traffic at 25.7 announced. In the second quarter of this year, million Russian users between 12 and 64 years of Avito’s revenue reached 1.57 billion rubles ($24 age in July 2015. More than 50% of Avito’s traffic million), up 47% in one year, Bloomberg reported. is now coming from mobile devices, compared to By comparison, Avito’s revenues amounted to just 32% at the beginning of 2014, according to $8.5 million in 2011. The company was then Naspers.

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Russian billionaire Alisher Usmanov invests “$100 million or more” in e-sports platform

By East-West Digital News / October 16, 2015

Yesterday USM, an investment company controlled established in 2012, include Metalloinvest, one of by Russian billionaire Alisher Usmanov, announced the largest global metals and mining companies, an investment of “$100 million or more” in MegaFon, a major telecommunications operator in Virtus.pro. Launched in 2003, this popular e-sports Russia, Mail.Ru Group, the Russian internet and resource organizes multiplayer video game social network leader, and UTH Russia, one of the competitions, particularly between professional country’s fastest-growing commercial TV players. broadcasters. USM is also a limited partner in the “E-sports are a unique proposition, uniting the DST funds, a prominent global Internet investor sports, media and the internet industries,” stated with stakes in Alibaba, JD.com, Xiaomi, Spotify, Ivan Streshinsky, a member of USM Holdings’ Airbnb, Zalando, Flipkart, ZocDoc and Klarna. board. Separately, Usmanov also owns the Kommersant “It is a fast-growing market, which has already publishing house, a leading business media generated huge interest around the world and company in Russia, and holds a stake in Arsenal Virtus.pro is the leader in the e-sports industry in Football Club. Russia,” he added. Usmanov is also famous for his support of fencing Covering dozens of disciplines, Virtus.pro claims to and football activities. He is the founder of the Arts, embrace “over fifty top sportsmen who have Science and Sports Charity Foundation. managed to capture gold at top competitions,” and Another Russian oligarch actively investing in to attract more than 2 million unique users monthly. startups is Roman Abramovich, who is The investment will be used by Virtus.pro to launch a shareholder of Moscow-based venture fund new tournaments, support new games, create Impulse VC as well as of several tech companies in media channels and build new esports arenas, Israel, California and the UK. according to Anton Cherepennikov, co-owner.

From metals, to technology, to sports An Uzbek-born business magnate, Usmanov is Russia’s richest man and the world’s 58th richest person, with a fortune of $14.7 billion, according to a Forbes estimate in January 2015. The assets of USM, his holding company

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CarPrice.ru raises $40 million to develop online used car brokerage in Russia and beyond

By East-West Digital News / July 24, 2015

Yesterday CarPrice.ru, a major Russian online 2015. broker of used car, announced that it raised $40 CarPrice has been the first Russian company to million in a Series B funding round – a develop such a C2B business model, which is considerable amount in the context of contraction similar to that of We Buy Any Car in the UK. of the Russian venture market. The round was led by Baring Vostok Private Equity Fund V with the “We have no direct local competitors since our participation of Almaz Capital and other unnamed model differs from [classifieds sites] auto.ru or investors. No details of the transaction have been avito.ru,” the company’s press service told East- disclosed. West Digital News. Coming just one year after site launch, the funding “Our technology has revolutionized the traditional will be used to expand further CarPrice’s business used car market. In developing a credible in new Russian regions, and increase car stock. alternative to traditional channels such as classifieds, we have increased significantly the “We also consider expansion to such new markets share of secondary deals in total second-hand car as Europe, Asia and South America,” the CarPrice transactions,” said CarPrice’s co-founder and press service told East-West Digital News. CEO Eduard Gurinovich. CarPrice provides car buyers with free online CarPrice was co-founded in June 2014 by valuation in a matter of seconds. Its online bidding Gurinovich and Oskar Hartmann, the German process involves more than 1,000 dealers from entrepreneur who successfully launched across Russia. After these dealers determine the KupiVip.ru in 2008, with the participation of best competitive price and complete the auction, Alexander Danilov and Artem Bolshakov. the sellers receive payment in CarPrice outlets. After receiving seed-stage funding from Hartmann CarPrice.ru has asserted itself as a major online ad Fastlane Ventures, a Moscow-based startup broker and auctioneer for second-hand cars with incubator, CarPrice raised $2 million from Almaz more than 20 locations including Moscow, St. Capital, Fastlane Ventures, e.ventures and other Petersburg and the regions. claims to have funds in October 2014. become a top five Russian used car seller. Helped by the recently a collapse of the new car market, CarPrice intends to increase total monthly auctions from 4,000 currently to 10,000 until the end of

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Local search and city navigation service 2GIS secures $40 million to expand in Russia and internationally

By East-West Digital News / November 4, 2015

Bold enough to compete with the mapping services From Moscow, to Prague, to Santiago of Yandex and Google, 2GIS, a Novisibirsk, de Chile Siberia-based company, has raised $40 million from two major investment funds, Baring Vostok With its accurate 3D city maps, the 2GIS service Capital Partners and Ru-Net. allows one to look for organizations and services, and find directions for cars and public transport. Launched in 1999 and now developing across The service may be used completely offline. three continents, 2GIS (pronounce “double giss”) is one of the least known but most remarkable 2GIS is currently available in more than 280 cities Russian technological firms. The deal, in which the in 8 countries, primarily in Russia, but also in two funds received a minority stake, comes as Kazakhstan, Ukraine, Cyprus, Italy, UAE, the the first equity financing round for 2GIS. Czech Republic and as far as Chile, where the service launched last year. The company claims a “Our company has come to a new development global audience of more than 41 million monthly stage. This funding will allow us to promote the users, including 14 million using the service via service more actively in the European part of partnering sites. Russia, open branches abroad in addition to the existing franchise network, and develop new Thirty-eight thousand companies from a variety of products,” stated 2GIS President Vera Garmash. industries advertise through the platform. “In many cases, our service is the most effective channel to “2GIS has created a unique product, which attract local customers,” says the company, whose includes detailed and up-to-date maps, and an all- advertising revenues exceeded 4 billion rubles in encompassing database about city venues. Also 2014 (nearly $105 million at the average exchange impressing is the number of 2GIS users who make rate). frequent use of the web and mobile interfaces,” said Elena Ivashentseva, senior partner at Baring In 2011, 2GIS launched Flamp.ru, a consumer Vostok. review website which now covers nearly 100 Russian cities, including Moscow, and attracts 3 “By focusing on quality and integrity of its data, million unique users monthly. Flamp.ru features 2GIS has been able to build one the largest 1.33 million reviews, which are reviewed and consumer Internet services,” added Ru-Net commented officially by more than 32,000 founder and industry veteran Leonid Boguslavsky. companies, claims the company. Baring Vostok and Ru-Net are among the most In 2013, Mashable included 2GIS in its list of established Russian investment funds, with Russia’s “20 hottest startups.” investments in Ozon and Yandex at the very early stages. Ru-Net’s move is all the more remarkable that this fund now tends to invest abroad rather than in Russia.

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IKEA Russia launches startup accelerator

By East-West Digital News / December 8, 2015

Ikea Russia calls for developers, programmers, western-style accelerator in Moscow, will provide business experts, retail specialists, designers and education courses as well as seed funding. marketers to participate in its “Mega Accelerator.” “We are glad to share our knowledge and The project — the first of its kind in Russia — aims experience with MEGA Accelerator, providing the to “search and realize innovative ideas to enhance best toolkit to make their ideas a success,” stated customer experience in MEGA shopping malls and Zamir Shukhov, Director at GVA LaunchGurus. beyond,” the company stated. This project is not the first incursion of the Swedish Owned, developed and managed by Ikea, group into the startup playground. As early as MEGA is a leading chain of shopping centers 2008, Ikea announced a $50 million investment in across Russia. These malls attract some 275 green tech startups, and joined the Cleantech million visitors each year, according to the Scandinavia initiative. In 2013, the Swedish group. group sponsored Flat6Labs Jeddah, the first The application process for the accelerator opened startup accelerator in Saudi Arabia. Just weeks yesterday, December 7, on a dedicated website, ago, Ikea launched a research hub and and will close in January. In March 2016, the exhibition space in Copenhagen “to explore the selected teams will be invited to test and develop future of home design.” their ideas in the accelerator with the support of mentors. Each selected team will receive 350,000 rubles (a little more than $5,000 at the current exchange rate) while the winner, who will be announced in June 2016, will get 3.5 million rubles (approximately $50,000). Ikea will offer the necessary resources and “a creative office space” in Moscow for the startups to develop their ideas while GVA LaunchGurus, a

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Swedish and Russian business- men team up to invest in Iranian digital assets

By East-West Digital News / March 21, 2016

Two Russian businessmen — former Qiwi Sarava is also a shareholder of Café Bazaar, shareholder and Parus Capital President Andrey Iran’s main Android marketplace, the Swedish Muravyev and Parus Capital Managing Partner company told East-West Digital News. Boris Sinegubko — invested last year “several In addition, Pomegranate owns directly stakes in million US dollars” in three Iranian Internet Carvanro, Iran’s first online ride-sharing service, companies. and in Griffon Capital, a newly formed Iran- These include DigiKala, Iran’s largest e-commerce focused investment and advisory boutique. company, as well as leading classifieds sites Divar and Sheypoor. The investment was revealed earlier this month by Russian business daily From $150 million to $4 billion? Kommersant, which referred to exchanges with Digikala — which means ‘digital products’ in Farsi Sinegubko. — was founded in 2005 by twin brothers Hamid The Russian money was invested via and Said Mohammadi. As reported by Forbes last Pomegranate Investment, a Swedish company year, the site initially focused only on electronics, founded in 2014 by Vostock New Ventures CEO but it then expanded into everyday items, like Per Brilioth to invest in Iran. Among home appliances, books, media, personal care Pomegranate’s other shareholders are Jonas items, toys, gadgets, perfume, even tools. Nordlander and Filip Engelbert, the co-founders of The site made the news in 2014, when World the leading Russian online classifieds platform, Startup Report estimated its value at $150 million. Avito. Currently Digikala could be valued at “less than Following a pre-IPO private placement earlier this $400 million,” Kommersant wrote, citing month, Pomegranate presents itself as “the only exchanges with unnamed investment funds, and publicly accessible investment holding with direct be worth “up to $4 billion” in four to five years. access to the Iranian market, giving a stake in high Another foreign player active in the Iranian tech quality consumer tech growth, which is scene is Rocket Internet. However, the German unprecedented globally.” investor’s initiatives in this country have not been Pomegranate’s main holding is Sarava, of which it so successful so far, Iranian online publication owns 9.6%. Sarava claims to be Iran’s leading Financial Tribune noted recently. investment company investing in the Internet sector with a 51% stake in Digikala as well as stakes in Divar and Sheypoor.

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Russian investors put over $13 million in US grocery delivery service Blue Apron

By Adrien Henni, East-West Digital News / December 16, 2015

Target Global, an international venture fund with A global investment story Russian backers, has spent $13 million to acquire Launched in 2013, Target Global (previously a 0.65% stake in US food delivery startup Blue known as Target Ventures) exemplifies Apron. The transaction remained under the radars the globalization of Russian venture capital until it was revealed earlier this month by the investment. The fund’s latest investment in the fund’s managing partner Mike Lobanov in an USA, in June 2015, went to Prosper, a leading interview with Russian business daily Vedomosti. US peer-to-peer lending marketplace. In 2014 the Lobanov did not specify whether the money went fund took part in Delivery Hero’s $88 million Series to the startup in a capital increase operation, or to E round, and led a €20 million round for buy Blue Apron shares from an existing international cruise booking portal Dreamlines. The shareholder. fund successfully exited from Fyber, a Berlin- Another Russian investor also acquired a stake in based mobile ad solution publisher which Blue Apron, said Lobanov. He disclosed neither was acquired by South Korea’s RTNS Media in the identity of this second investor nor the related October 2014. transaction details. Blue Apron’s press service Most recently, Target Global took part in a $2 declined to answer Vedomosti’s inquiry. million round for Nestpick, another German The two Russian funds had to compete hard with startup. other VCs to buy the Blue Apron shares, Lobanov The fund’s portfolio also includes such Russian conceded. startups as Eventbrite clone TimePad, online This past June, a bevy of prominent US funds took retailer Babadu.ru and online confectionary shop part is the startup’s latest round of financing. Blue MixVille.ru. Apron secured no less than $135 million at a Target Global, which claims over $300 million in nearly $2 billion valuation. assets under management, operates from In late 2014 Instacart, another grocery delivery its offices in San Francisco, Berlin and Moscow. Its startup, closed a $210 million investment at a backers are “private Russian individuals who wish similar valuation. to invest in [western markets] in order to diversify their investment portfolio,” said Lobanov in a In Russia, Blue Apron copycat ChefMarket.ru was previous exchange with East-West Digital News. valued at a modest $25 million when it raised $5 million last month. But its founder Sergey Ashin None of these LPs are connected to Russian targets a $1 billion valuation “in five to seven government circles, or targeted by the western years.” sanctions, Lobanov specified in interviews with Russian media.

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IN PARTNERSHIP WITH 50 Calendar of Events: February

EVENT CITY DATE ORGANIZER START YOUR BUSINESS WITH MINIMAL COST MOSCOW 9 FEB MOSCOW SMALL BUSINESS STARTUP TOUR NOVOSIBIRSK 9-10 FEB ROSNANO, FASIE LIFT CONFERENCE 2.016 GENEVA 10 -12 FEB LIFT EVENTS HEAD RESEARCH AND TESTING ROBOTICS CENTRE THE ROBOTIZATION OF THE OF THE MINISTRY OF ARMED FORCES OF THE DEFENSE OF THE RUSSIAN RUSSIAN FEDERATION MOSCOW REGION 10 FEB FEDERATION TECHNOLOGY INITIATIVE OF AGENCY FOR STRATEGIC ENERGY NET MOSCOW 11 FEB INITIATIVES THE DEVELOPMENT OF MODERN ELECTRONICS IN TERMS OF MASS SAINT-PETERSBURG PRODUCTION. HOW? WHAT? TECHNOPARK, LLC ASK HOW MUCH? ST. PETERSBURG 11 FEB LABORATORIA" DRONE HACK MOSCOW 12 -14 FEB HSE.LAB THE MIDDLE EAST: RUNNING BUSINESS IN THE OIL AND GAS SECTOR MOSCOW 12 FEB SKOLCOVO FUND SPIE (INTERNATIONAL SOCIETY FOR OPTICAL SPIE PHOTONICS WEST 2.016 SAN FRANCISCO 13 -18 FEB ENGINEERING) ULCAMP.WINTER ULIANOVSK 13 FEB ITECH.GROUP,DIGITAL ZONE TEDXPOKROVKAST // DARE TO DREAM MOSCOW 13 FEB TEDXPOKROVKAST SPIE (INTERNATIONAL SOCIETY FOR OPTICAL SPIE PHOTONICS WEST 2016 SAN FRANCISCO 13-18 FEB ENGINEERING) HACKDESIGN DAY CHELYABINSK 14 FEB LLC POLYUS DOSTUPA STARTUP TOUR CHELYABINSK 15 -16 FEB SCOLKOVO, ROSNANO, FASIE NETWORK DEVICE IN INNOVATION ECONOMY: WORLD TRENDS AND RUSSIAN REALITIES MOSCOW 15 FEB RVC RUSSIAN ASSOCIATION OF DIGITAL-COMMUNICATIONS IN COMMUNICATION DIRECTORS RUSSIA – 2016 MOSCOW 16 FEB AND CORPORATE PUBLISHING

NANOTECHNOLOGY IN NABEREZHNYE INDUSTRY – 2016 CHELNY 16-18 FEB EXPO-KAMA

STARTUP TOUR MAGNITOGORS 17 FEB SCOLKOVO, ROSNANO, FASIE BIT–2016 KIEV 17 FEB CIS EVENTS GROUP COMPOSIT-EXPO 2016 MOSCOW 17 FEB MIR-EXPO

IN PARTNERSHIP WITH 51 Calendar of Events: February

EVENT CITY DATE ORGANIZER CHAMBER OF COMMERCE AND INDUSTRY OF THE RUSSIAN FEDERATION, RUSSIAN-CROATIAN CROATIAN ECONOMIC ECONOMIC FORUM MOSCOW 17 FEB CHAMBER OPEN DAY IN IIDF MOSCOW 18 FEB IIDF NATIONAL AWARD IN THE FIELD OF PUBLIC RELATIONS SILVER RAY MOSCOW 18-19 FEB DEVELOPMENT "SILVER RAY" KRASNOYARSK ECONOMIC FORUM – 2016 KRASNOYARSK 18-20 FEB KRASNODARR GOVERNMENT CONSULTATION AND ASSISTANCE IN PREPARATION OF APPLICATIONS FOR GRANTS. MOSCOW 19 FEB BUSINESS-INCUBATOR HSE,HSE NIZHNY NOVGOROD, PROTOTYPING CENTER OF THE HIGHER SCHOOL OF STARTUP OF THE YEAR 2015 MOSCOW 19 FEB ECONOMICS CAMPUS–2016 KAZAN 20 -21 FEB DIGITAL AGENCY SODA AR&VR HACKATHON SPB 2016 ST. PETERSBURG 20-21 FEB AR&VR ASSOCIATION GOTO HACK MOSCOW 20-22 FEB GOTO CAMP STARTUP BOOTCAMP GVA LAUNCHGURUS MOSCOW 21-22 FEB GVA LAUNCHGURUS MOBILE WORLD COGRESS BARCELONA 22 FEB GSM ASSOCIATION IST INTERNATIONAL SCHOOL. METHODS OF SOFTWARE DEVELOPMENT INNOPOLIS 22-26 FEB INNOPOLIS UNIVERSITY

OPEN DAY IN SCHUNK BRACKENHEIM 23 FEB STARTUP GRIND MOSCOW 23-24 FEB GOOGLE WINTER SCHOOL "MODERN BIOLOGY & BIOTECHNOLOGY OF THE FUTURE — 2016" MOSCOW REGION 23-27 FEB FUTURE BIOTECH INSIDE 3D PRINTING DUSSELDORF 24-25 FEB RISING MEDIA MEETING OF THE SKOLKOVO CLUB OF BUSINESS ANGELS MOSCOW 26 FEB SCBA HARVEST 4.0 IN KRASNODAR KRASNODAR 26-28 FEB IIDF MINISTRY OF INDUSTRY AND TRADE AND INDUSTRIAL 29 FEB – TRADE OF THE RUSSIAN DIALOGUE: RUSSIA-JAPAN TOKIO 1 MAR FEDERATION

IN PARTNERSHIP WITH 52 Calendar of Events: March

EVENT CITY DATE ORGANIZER

STARTUP SAUNA, REGIONAL STARTUP SAUNA IN SAMARA SAMARA 4 MAR INNOVATION CENTER

WASTE MANAGEMENT SYMPOSIA PHOENIX 5 -10 MAR

19TH SELECTION IN BUSINESS- INCUBATOR IT–PARK NABEREZHNYE CHELNY 5-6 MAR NABEREZHNYE CHELNY IT-PARK SATELLITE 2.016 WASHINGTON 7 MAR CONSUMER ELECTRONICS CES 2.016 LAS VEGAS ASSOCIATION(CEA) AR CONFERENCE MOSCOW 10 MAR SMILE EXPO

GVA LAUNCHGURUS,MOSCOW SMALL BUSINESS, STARTUP EXPO EВРАЗИЯ 2016 MOSCOW 10-11 MAR NEWTONEW,SYNCCLOUD STARTUP TOUR KRASNODAR 14 -15 MAR SKOLKOVO, ROSNANO, IIDF

11-TH INTERNATIONAL EXHIBITION "PHOTONICS. WORLD OF LASERS AND OPTICS" EXPOCENTER, LASER MOSCOW 14 -17 MAR ASSOCIATION

MEETING OF SCBA (SKOLKOVO CLUB OF BUSINESS ANGELS) IN THE FRAMEWORK OF ALL- RUSSIAN STARTUP TOUR KRASNODAR 14 MAR SCBA LASER WORLD OF PHOTONICS CHINA 2.016 SHANGHAI 15 -17 MAR INVESTORS' FORUM GENEVA 16-17 MAR EVCA STARTUP TOUR TAGANROG 17 -18 MAR SKOLKOVO, ROSNANO, IIDF BUSINESS INCUBATOR HSE, HSE STARTUP OF THE YEAR 2015 MOSCOW 19 MAR NIZHNY NOVGOROD STARTUP TOUR TULA 24 -24 MAR SKOLKOVO, ROSNANO, IIDF

MEETING OF SCBA (SKOLKOVO CLUB OF BUSINESS ANGELS) IN THE FRAMEWORK OF ALL- RUSSIAN STARTUP TOUR TULA 24 MAR SCBA BUSINESS INCUBATOR HSE, HSE STARTUP OF THE YEAR 2015 MOSCOW 19 MAR NIZHNY NOVGOROD STARTUP TOUR TULA 24 -24 MAR SKOLKOVO, ROSNANO, IIDF STARTUP TOUR ALMATY 30 -31 MAR SKOLKOVO, ROSNANO, IIDF

IN PARTNERSHIP WITH 53 Calendar of Events: April

EVENT CITY DATE ORGANIZER STARTUP SCHOOL IN NORTH- AGENCY FOR INNOVATION WEST FEDERAL DISTRICT VOLOGDA 1-3 APR DEVELOPMENT LEGAL COURSE FOR VENTURE INVESTORS MOSCOW 1-2 APR VENTURECLUB PHARMA'S COOL MOSCOW 1 APR SKOLKOVO FUND KEMEROVO STATE TASTE IT KEMEROVO 2-3 APR UNIVERSITY WIRE DUSSELDORF DUSSELDORF 4 APR III INTERNATIONAL TECHNOLOGY FORUM "INNOVATIONS. TECHNOLOGY. PRODUCTION" RYBINSK 4 APR SATURN, RSUAT SPIE PHOTONICS EUROPE 2016 BRUSSELS 5 APR

AGENCY FOR STRATEGIC INFOSPAСE MOSCOW 5 APR PROGRAMS FINANCIAL UNIVERSITY ANNUAL RUSSIAN UNDER THE GOVERNMENT CONFERENCE "LOGISTICS OF OF THE RUSSIAN THE ROCKET AND SPACE FEDERATION, LLC "JUST INDUSTRY" SPACELOG -2016 LOGISTICS" MOSCOW 6 APR CLUB OF FRIENDS OF SKOLKOVO FOUNDATION IN THE FAR EAST": "RESULTS AND FUTURE PLANS" VLADIVOSTOK 6 APR SKOLKOVO FUND MINISTRY OF INDUSTRY AND NEW TECHNOLOGIES OF THE REPUBLIC OF KAZAKHSTAN, STATE CORPORATION ON ATOMIC KAZATOMEXPO 2016 ASTANA 7 APR ENERGY "ROSATOM"

SKOLKOVO FUND STARTUP TOUR MINSK 7-8 APR VOLGA FEDERAL MEDICAL 3D INNOVATIONS IN MEDICINE RESEARCH CENTRE, AND PHARMACOLOGY NIZHNIY NOVGOROD 8 APR CLUSTER "SKOLKOVO"

HACKATHON CYBER GARDEN TAGANROG THE IT #3 TAGANROG 8-10 APR COMMUNITY

"SCIENCE VS LIFE: FAR EAST" VLADIVOSTOK 10-13 APR OPUS

CLEANTECH FORUM EUROPE LION 11-13 APR

IN PARTNERSHIP WITH 54 Calendar of Events: April

EVENT CITY DATE ORGANIZER RUSSIAN CONFERENCE "INNOVATIVE PROCUREMENT" MOSCOW 11 APR SINAPS-MSK

NEW ELECTRONICS–2016 MOSCOW 13-15 APR CJS CHIP EXPO «ROBOFEST-2016» MOSCOW 12-15 APR VOLNOE DELO FUND INTERNATIONAL EXHIBITION "ANALITIKA EXPO" MOSCOW 12 APR ITE MOSCOW RUSSIAN ASSOCIATION FOR RUSSIAN INTERNET FORUM ELECTRONIC "RIF+KIB 2016" MOSCOW 13-15 APR COMMUNICATIONS (RAEC) MEETING OF SCBA IN THE FRAMEWORK OF RUSSIAN STARTUP TOUR KALININGRAD 14 APR SKOLKOVO FUND

GLOBAL TECHNOLOGY TRENDS MOSCOW 14 APR RVC

CONFERENCE "STARTUP IDEA" SKOLKOVO FUND, MOSCOW REGION 15 APR SOVZOND COMPANY INNOVATIVE ACHIEVEMENTS AND DEVELOPMENTS IN ONCOLOGY" 15 APR MSU

GIS-FORUM — III MOSCOW REGION 15 APR SOVZOND COMPANY

BIOMEDICAL HOLDING NEWTRITION 2016 MOSCOW 15-16 APR "ATLAS"

STARTUP PERM 16-17 APR KAZAN IT- PARK COMMERCIAL LAW REGULATION OF INNOVATION ACTIVITY MOSCOW 18-19 APR LLC ASERGROUP

BIOLOGY - SCIENCE OF 21ST PUSHCHINO RESEARCH CENTURY CENTER , LLC CENTER OF PUSCHINO 18-22 APR PRE-CLINICAL TRIALS

STARTUP TOUR

TOGLIATTI 18-19 APR SKOLKOVO FUND

IN PARTNERSHIP WITH 55 Calendar of Events: April

EVENT CITY DATE ORGANIZER

SECURITY & COUNTER TERROR EXPO SCTX LONDON 19 APR SCTX CISCO NETWORKING HACKATHON CISCO EKATERINBURG 20-22 APR ACADEMY STARTUP TOUR SARATOV 21-22 APR SKOLKOVO FUND SAP MOSCOW FORUM MOSCOW 21 APR

ROBOSECTOR 2016 MOSCOW 21 APR AVITON TTD: TECHNOLOGY FOR LIFE INGRIA BUSINESS 2016 ST. PETERSBURG 21 APR INCUBATOR INNOVATION ECOSYSTEM: UNIVERSITIES AND RESEARCH ORGANIZATIONS IN 2016" MOSCOW 21-22 APR MISIS, RVC

SAP MOSCOW FORUM KRASNOGORSK 21 APR SAP CIS

INNOVATION. HACK THE PERM NATIONAL RESEARCH WORLD PERM 22-24 APR POLYTECHNIC UNIVERSITY

INTERRA, MST DIGITAL STACHKA–2016 ULIANOVSK 22-23 APR AGENCY, SIMTECH

VLADIK STARTUP DAY VLADIVOSTOK 23 APR IIDF ST. PETERSBURG STATE CHEMICAL- YOUNG PHARMACY – PHARMACEUTICAL POTENTIAL FUTURE ST. PETERSBURG 25-26 APR ACADEMICAL RUSSIAN ASSOCIATION OF VENTURE INVESTMENT (RAVI), INVESTMENT AND VENTURE FUND OF THE KAZAN VENTURE FAIR KAZAN 25-26 APR REPUBLIC OF TATARSTAN

LADIES CODE. GIRLS IN IT MOSCOW 26 APR LLC APPTRACTOR

CONNECTED CAR SUMMIT

MOSCOW 28 APR SMILEEXPO

IN PARTNERSHIP WITH 56 Calendar of Events: May

EVENT CITY DATE ORGANIZER INTERNATIONAL EXHIBITION OF INFORMATION AND COMMUNICATION TECHNOLOGIES MOSCOW 10 MAY EXPOCENTER BUSINESS-MISSION OF RVC RVC, TRADE REPRESENTATION OF IN NEW DELHI NEW DELHI 10-13 MAY THE RUSSIAN FEDERATION IN INDIA NAVITECH 2016 MOSCOW 10 MAY EXPOCENTER SENSOR+TEST 2016 NUREMBERG 10 MAY AMA SERVICE GMBH ACCELERATION PROGRAM FOR INNOVATIVE IDEAS AND PROJECTS IN EARLY STAGES NOVOSIBIRSK STATE MEDICAL OF DEVELOPMENT "INITIUM" NOVOSIBIRSK 11-14 MAY UNIVERSITY AGENCY FOR STRATEGIC FORESIGHT FLEET 2016 SAMARA 15-19 MAY INITIATIVES RAPID ORLANDO 16 MAY SME ACCELERATION PROGRAM TECHNOPARK OF CHECHEN STATE "INNOVATION LEADER" GROZNIY 16-18 MAY UNIVERSITY STARTUP SCHOOL "FREGAT 19 MAY - 24 ACCELERATOR" SIMPHEROPOL JUN CRIMEAN IT-CLUSTER LLC ISKGROUP, ASSOCIATION OF OPERATORS AND DEVELOPERS OF MOSDRONEXPO 2016 KRASNOGORSK 19-20 MAY UNMANNED AIRCRAFT SYSTEMS ALLIANCE OF DEVELOPMENT OF FINANCIAL COMMUNICATIONS AND RUSSIAN IR–FORUM 2016 MOSCOW 19 MAY INVESTOR RELATIONS SKOLKOVO ROBOTICS CONFERENCE 2016 SKOLKOVO 20 MAY SKOLKOVO FUND INOTEX 2016 TEHRAN 22-25 MAY "PARDIS" TECHNOPARK INNO ROBO 2016 PARIS 24 MAY INNOECHO IATI BIOMED 2016 TEL AVIV 24-26 MAY KENES EXHIBITIONS METALWORKING 2016 MOSCOW 25 MAY EXPOCENTER EXPERIENCE OF THE INTEGRATED USE OF SPACE ACTIVITY IN INTERESTS OF RUSSIAN REGIONS" SKOLKOVO 25 MAY SKOLKOVO FUND 4S 2016 MALTA 30 MAY CHINA INTERNATIONAL MINING EXPO 2016 PEKING 30 MAY BEIJING HIVEN EXHIBITION CO., LTD

IST BRICS CONFERENCE ON PHOTONICS SKOLKOVO FUND, RUSSIAN SPACE SKOLKOVO 30 MAY SYSTEMS

IN PARTNERSHIP WITH 57 Calendar of Events: June

EVENT CITY DATE ORGANIZER

STARTUP TOUR MOSCOW 2 JUN SKOLKOVO FUND

MINISTRY OF HEALTH OF THE BIOMEDICINE-2016 RUSSIAN FEDERATION NOVOSIBIRSK 26 JUN- 1 JUL

II BUSINESS PLATFORM "RATIONAL PRODUCTION" MOSCOW 28-29 JUN LLC POLYUS DOSTUPA NEWSPACE 2016 SEATTLE 21 JUN SPACE FRONTIER

AUTOMATICA MUNICH 21 JUN

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