Objectives of this Paper:
This Policy Paper on Venture Capital has as its general objective “to compile and present relevant information on the present practice and future perspective of venture capital as a tool for SME finance in the Russian Federation.”
In order to derive pragmatic significance from the Paper, the specific objective is “to make recommendations, based on field investigations and document studies and on what stakeholders in this financing instrument have contributed on the basis of their involvement, whether theoretical, political or practical.”
For Russian SMEs, access to bank finance and other sources is very poor to non-existent, making venture capital a key-funding source for growth. SMEs owe this to a lack of collateral and the absence of both a historical track record and a well-presented business plan.
The paper describes the current situation with venture capital in Russia, both on the supply and demand side, outlines the key players and issues, legislation, provides examples of the best practice of venture capital activities in EU countries.
Table of contents:
Approach of this paper
For a systematic approach to achieving both the general and specific objectives of this Policy Paper, this paper approaches the following issues:
A. The issue of venture capital (chapter II)
B. The current status of venture capital in the Russian Federation (chapter III)
C. Building the supply side of venture capital in Russia (chapter IV)
D. Building the demand side of venture capital in Russia (chapter V)
E. Legislation pertaining to venture capital (chapter VI)