On financing fast-growing technology companies in Russia

Sergey Gaivoronsky, Investment Director of KAMA FLOW, told Vedomosti about the main challenges and opportunities for the so-called ‘technogazelles’ - technology companies with growth of 20-50%+: ‘The problem of late-stage financing is particularly acute. There are only a few such funds, and they cannot meet the market's needs in full. Therefore, companies that have reached the scaling stage are forced to look for foreign investors or limit their growth due to the lack of funding’.

According to Sergey Gaivoronsky, venture capital remains the main source of funding. Grants are decreasing, at the same time crowdfunding platforms that can accumulate funds for participation in large investment rounds are becoming relevant.

Read more at: https://www.vedomosti.ru/technologies/trendsrub/articles/2025/03/17/1098488-tehnogazeli-i-mesta

Photo: Vedomosti