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Venture Capital Financing as a Factor in Russia's Innovation Development

Author: Natalia K. Bekkalieva

Abstract:

The article discusses key problems of venture financing and its development under crisis conditions. It examines venture capital market in recent years and the issues of investment into various sectors. The paper proves the importance of investors’ involvement at different stages of the innovative development in accordance with the rounds of investment and lists the examples of venture funds established during crisis and projects of syndicated deals financed with these funds’ participation. The author looks at the problems of interaction between state funds supporting R&D and innovations, investors and financial intermediaries and holds a detailed analysis of the quantity and structure of investors. In addition, main factors behind further development of venture capital market in Russia are identified, most important problems of venture financing and directions for solving them in conditions of economic crisis to enhance Russia’s competitiveness in global market are specified.

Keywords: venture financing; venture fund; innovation; investment

For citation:

Bekkalieva N. K. Venchurnoe finansirovanie kak faktor innovatsionnogo razvitiya Rossii [Venture Capital Financing as a Factor in Russia's Innovation Development]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 3 (65), pp. 100–105.