Russian investors need protection mechanisms to show interest in venture funds

During the second day of Technoprom-2019, participants of the Siberian Venture Fair continued to discuss the development of the Russian venture capital market.

“Why is the Bortnik Fund still the one and only well-operating grant fund? This situation is due to the fact that other venture funds are prevented from growing because of a cash-out (an investor’s right to sell its share at the project start) prohibition in our country”, said Deputy General Director of Academpark Levan Tatunashvili.

According to Mr. Tatunashvili, the venture business is very risky, therefore investors need protection mechanisms.

“In order to engage investors in startups, a legal framework on protection of minority rights is necessary both for investors and technology creators. Now, they can be vague till the project completion”, noted Levan Tatunashvili.

According to Mr. Tatunashvili, the Bortnik Fund manages to survive in the market because it acts as a grant support fund but not as an investor who requires a payback.


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