Venture funds created to invest in start-ups (start-up) – the investment attractive companies at an early stage of their development. That is, venture capital funds, having a large enough financial reserves (more tens of millions of dollars, sometimes billions of dollars), invest them in young companies with promising know-how or technology. Their favorite sectors for venture capital funds are the consumer sector, it (Information technology), biotechnology and other high-tech industry. Venture capital funds are, so to speak, of two types: captive venture capital funds and collective venture capital funds. Captive venture fund – corporate venture capital fund, which functions as the structure of a large company (usually a subsidiary) to the concentration of corporate capital to invest in innovative business. In the West, captive venture funds as an investment mechanism taken root since the 60-ies of xx century, many large corporations have their own venture funds. From working today in Russia, foreign venture capital funds are a captive Mint Capital, Oradell Capital, and others from the Russian venture capital funds to the captive are the following: "Russian Technologies" (holding of Alfa Group ")," System-Venture "(holding AFK" System ") and other collective venture capital funds are in the form of closed Mutual Funds (CUIT) and the major investor here is not large holding or corporation, as in the case of captive funds and private investors. As the initiators of collective venture capital funds may act as management companies and the state represented by the medt (Ministry of Economic Development and Trade).
The program for creating public-private venture funds, such funds have operate in several regions of Russia: in Moscow, Krasnoyarsk and Perm edge, in the Tomsk Region and Tatarstan. The State carries out 50% case funding in the formation of such funds, other funds come from private investors. Venture capital funds formed operating companies, are in particular: – "Golden Valley" directed by Management Company "Monomax" – "Investment Partnership" under the management, llc Management Company 'Professional investment' – Maxwell Strategic Investments managed by llc "Maxwell Asset Management '-' Venture Fund nicor – The first 'running zao Management company 'I-Man Capital' – 'Finam – Information Technologies' managed by llc "Management company Finam Management'. By the way, this fund has recently entered the stock market and became the first issuer in the sector of irk (Innovation and growing companies) on micex. Total control of the company controls about twenty-five venture capital funds. In conclusion I would like to note that today the Russian venture capital market shows rapid growth, despite a number of serious problems, which slow down its development. Moreover, according to analysts, in the coming years in Russia Venture Capital will trigger a boom in the venture capital industry.