Comment from Alex Chachava, managing partner of Leta Capital, on Russian venture capital trends.
The venture investment boom in Russia, which began four or five years ago, has contributed to a series of events including the rise of e-commerce, the Yandex and Mail.ru initial public offerings, increased government support of the venture capital industry, and the success of the Russian venture capital funds such as Almaz, Runet, and DST. Three years ago, Forbes magazine ranked businessman Alisher Usmanov as the richest person in Russia, attributing his wealth to his investments in Facebook, Twitter, and the Mail.ru Group. Thereafter, several other…
