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IT Sector Accounted for 60% of the Total Amount of All Venture Capital Investments in Russia
16.12.2020 18:57
IT Sector Accounted for 60% of the Total Amount of All Venture Capital Investments in Russia

In 2019, the IT sector accounted for 60% of the total amount of all venture capital investments in Russia, Vedomosti reports with reference to the Accounts Chamber. A total of $ 124 million was invested last year.

      It is noted that the dominance of IT in the field of venture investments is not a global, but a local phenomenon, since in the whole world the indicator is only 40%. In Russia, it reaches 70% of funds with state participation. As noted by United Investors, this may be due to the low entry threshold: to launch an online project often requires less investment than to create a product in other industries. Entering the global market is also simplified due to the almost complete absence of customs and regulatory barriers.

Author: Anna Dorozhkina

Tags: Russian business Russian economy    

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