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Sanctions halve Russian IT venture investment market | Technology News
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Sanctions halve Russian IT venture investment market

Published by
IntelliNews

As the Russian economy remains affected by Western sanctions, with no lifting of them in sight, the local IT venture segment took a major hit in 2023, almost halving in comparison to the previous year. Although in 2023 the number of deals struck in the Russian venture capital market was slightly up from the previous year, the total value of the deals continued to slump. Foreign investors have largely stayed away from Russia since the invasion of Ukraine in February 2022 and subsequent Western sanctions slapped on the country, while local investors have also been hesitant about pumping their ca…

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