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Moscow Seed Fund
Moscow Seed Fund is the venture investment vehicle of the Moscow city authorities. It has made 109 investments, including a Seed VC in Drone Solutions on...
Moscow Seed Fund
Moscow Seed Fund is the venture investment vehicle of the Moscow city authorities. It has made 109 investments, including a Seed VC in Drone Solutions on December 13, 2024. The fund has 6 portfolio exits, with Rerooms exiting on November 27, 2024.
General information
Firm type
Generalist
Year founded
2005
AUM
Undisclosed
Location
Region
Europe
Country
Russia
City
Moscow
Corporate office
Moscow, Russia
Principals
Alexey Kostrov
Executive Director
Sector focus
Frequently asked questions
How is the Moscow Seed Fund related to the Moscow city government?
The fund was created directly by the Department of Entrepreneurship and Innovative Development of Moscow and operates as its investment vehicle. It deploys city budget resources through a range of programs — grants, loans, and equity — rather than raising capital from limited partners. This makes it a hybrid of a public development agency and a venture investor.
Does the Moscow Seed Fund invest only in Moscow-based companies?
The fund's mandate targets technology entrepreneurship within the city of Moscow. Its programs are designed to keep innovative companies headquartered and scaling in the capital. While the geographic boundary is city-focused, the fund co-invests with partners whose reach extends across Russia.
What types of capital does the Moscow Seed Fund provide?
The fund structures its support across four instruments: grants to top accelerator graduates, concessional seed and pre-seed loans, direct equity investments for growth-stage companies, and pre-IPO bridge loans for firms listing on the Moscow Exchange. This allows it to support a company from ideation through its public-market debut.
Who co-invests alongside the Moscow Seed Fund?
Named co-investors include Softline Venture Partners, Altair Capital, Kama Flow, the Russian Direct Investment Fund (RDIF), and individual technology investor Sergei Solonin. These partnerships have been observed in deals such as Alytics (with Altair Capital), Refin.online (with Kama Flow), and Ubirator (with Sergei Solonin).
Does the Moscow Seed Fund disclose its portfolio publicly?
Yes. The fund maintains a public register of all companies that have received support across its active programs. This transparency requirement is unusual for a venture investor and reflects its status as a public-sector entity allocating city funds.
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