KAMA FLOW and NSU launch the third cohort of their venture investment course

The Faculty of Economics at Novosibirsk State University (NSU) has launched the third cohort of its elective course, “Venture Capital Mechanisms for Supporting Innovation,” delivered in partnership with KAMA FLOW. The programme introduces students to the venture capital market, tools for evaluating technology projects, and practical approaches to investment analysis.

The course combines theoretical foundations with practical sessions led by professionals with hands-on experience in the venture capital industry. The course is taught by Elena Obukhova, PhD in Economics and Associate Professor at the Department of Management at NSU’s Faculty of Economics. KAMA FLOW is represented by Pavel Okhonin, Partner at KAMA FLOW; investment managers Anna Labunets, Alexey Pavlyuchenko and Maria Korolkova; and investment analyst Karina Ruchkina.

As part of the course, students explore the structure and operating principles of venture capital funds, approaches to evaluating startups and high-tech markets, and methods for assessing the investment potential of projects. Particular emphasis is placed on applying theoretical knowledge in practice and analysing real-world cases drawn from KAMA FLOW’s experience.

An important part of the programme is exploring current technology markets and identifying promising investment opportunities. According to Elena Obukhova, the theoretical component is updated annually using the most relevant sources. One lecture that attracted particular interest focused on research into the robotics and artificial intelligence markets conducted by KAMA FLOW analysts from the perspective of a venture investor seeking the most promising market segments and growth opportunities.

Elena Obukhova also notes that such research is valuable not only to investors but to technology companies themselves. It helps startups position themselves more effectively, identify growth opportunities, and determine promising areas for attracting investment. In addition, the course encourages students to explore high-tech markets and methods for analysing innovative projects in greater depth, including through their term papers and graduation theses.

“At KAMA FLOW, we place great importance on collaboration with universities and the development of venture capital culture. The venture capital market remains a relatively closed field, so we believe it is important to act as a gateway for students: introducing them to the broader private investment industry, including the venture capital market, sharing practical experience, and showing them how working with technology projects actually works from the inside.

At the same time, we want the knowledge students gain from the course to be valuable not only to those planning a career in investment. Skills in financial modelling, market analysis, and company valuation are applicable across a wide range of industries and help develop a systematic approach to business.

Throughout the course, we aim to share not just established approaches and theoretical frameworks, but also the expertise and tools we have developed and use in our own work. Our lectures explore the private investment industry, including the venture capital market, through the lens of KAMA FLOW’s real-world experience. We share practical insights into market analysis and the evaluation of technology projects that are rarely covered in business textbooks,” said Pavel Okhonin, Partner at KAMA FLOW.

The joint educational initiative by KAMA FLOW and NSU’s Faculty of Economics gives students an opportunity to gain first-hand insight into the venture capital industry, develop skills in technology project analysis, and see how theoretical knowledge is applied in real-world investment practice.