Private Equity & Venture Capital in Russia 2014

Transcription

1 Private Equity & Venture Capital in Russia 2014

2 Contents 1. Market overview 2. Case study: E-Commerce 3. VC trends 2

3 LIST NAIMA National Alternative Investment Management Association, a non-profit partnership representing alternative investment firms and service providers committed to the growth of long-term capital in Russia OUR MEMBERS: NAIMA was set up in 2012 by leading PE and VC funds in Russia with the support of international law and consulting firms, and in close cooperation with international industry partners and associations. The objectives of the association are as follows: draw the attention of Russian institutional investors (pension funds, banks, insurance companies and development institutions) to the direct investment market; promote the Russian direct investment market internationally and ensure appropriate positioning for Russia among other emerging markets; create a more favorable legal environment for capital raising, deal structuring and project management by funds registered in Russia and other jurisdictions; establish professional standards of corporate governance, reporting and compliance for responsible investment, support for professional training and the creation of a certification system for specialists in alternative investments.

4 General features of funds Funds by asset class, in numbers Funds by type, in numbers real estate venture capital growth PE mezzanine VC distressed fund of funds There are 72 not active funds (closed or stopped)

5 General features of PE funds PE funds by LP, in numbers 7 4 Traditional (Private) Captive/ Family office (Private) State PPP PE funds by origin, in numbers PE funds by sector focus, in numbers Russian International Multi TMT Industial Infrustructure Other* *Natural resources, Finance, Agriculture, FMCG, Healthcare

6 General features of VC funds 11 VC funds by LP, in numbers Traditional (Private) Captive/ Family office (Private) Corporate Fund State PPP VC funds by origin, in numbers 8 VC funds by sector focus, in numbers Russian International Multi Healthcare / Biotech Software / Internet Industrial Other* *Cleantech, electronics/ robotics, infrustructure, Edtech, Fintech

7 11 months 2014 results Almost 94% of the deals were in IT Software/Internet B2C was the most popular segment with the share of 65% of VC Investments Most investors were Private or Corporate with the shares of 68% and 23% respectively Average deal size was $2.2m $607M invested 279 deals closed Software/Internet B2C $394m Software/Internet B2B $103m Other IT $44 m Computer Tech, hardware $28.4m Biotech $20m Industrial tech $16.4m Other Tech $1.2m Angel $7m Public $24m PPP $23m Corporate $140m Private $413m Source: RMG Partners

8 VC investments in software/internet Social Media Platform/Middleware 300 Enterprise management software Marketing/Advertising 250 Other B2C Internet services/software2 Other business software 200 Other B2B software Other B2C Internet services/software E-COMMERCE Search/Recommendations Content providers Education 50 0 Software/Internet B2C OTHER B2B SOFTWARE Software/Internet B2B E-commerce Source: RMG Partners

9 Russian VC investments (US$m) Total deal value Number of deals 0 1q q q q q q q q q q q Source: RMG Partners

10 The most active funds of 2014

11 Investment in the e-commerce segment: Still a high level in 2014 Total investment amount to exceed that of 2013 ($235 million) Main deals: $150 million from AFK Sistema and MTS $40 million from Anatoly Goncharov and other Russian investors $20 million from Ulmart $12 million from Vaizra Capital $7 million from EBRD and MCI $7 million from e.ventures, Global Founders Capital, Holtzbrinck Ventures + InVenture Partners. Undisclosed stake acquired by Naspers

12 The "invest-abroad" trend gets stronger The DST school: More and more Russian money is invested abroad; the trend accelerated in 2014 The trend is even followed by funds that were initially focusing on Russia / CIS Some funds now reject the Russia label and define themselves as purely global funds.

13 Western funds: From sanction-driven retreat to confirmed commitment to Russia Bessemer: New risks, but no stopping Intel Capital: Not involved in politics Mangrove: Still working in Russia Tiger Global Management: Withdrew from Wikimart EBRD embarrassed: To leave (Rusnano project) or not to leave (Webinar.ru)?

14 Russian venture capital market overview includes a rundown of Russia s venture capital market The primary goal of this report is to make Russia s innovative sector more alluring for both foreign and domestic investors and increase the efficiency of contacts between investors and innovative companies seeking financing. The main barrier to growth of Russia s venture capital market is the lack of objective information. Foreign and domestic investors do not have sufficient reliable data and analytical materials on innovative markets and projects in Russia. This slows down the search for investment targets, makes investment decisions more difficult, increases costs for project analysis and due diligence, and restricts the size of the pool of potential venture investors KEY PARAMETERS Volume: 20+ pages Languages: EN, RU Release: Each quarter / 4 issues per year Formats: Electronic Paper size: A4 Free subscription MAIN MEDIA & DISTRIBUTION PARTNERS RMG client database East-West Digital News (EWDN) subscribers database RMG online resources, RMG mobile application (EN, RUS) Partnership with Marchmont Innovation News, Moscow Seed Fund, Bargan News, NAIMA and others (EN, RUS). Media partners support offers active links on company web-site following the report location RMG Media database (EN, RUS) TARGET AUDIENCE Russian Venture Capital Market Overview is focused on International and Russian target audience: Investors: investment funds, Venture & Private Equity funds, banks, financial groups, family offices & other Venture entrepreneurs, startups Governmental and market development institutes Consultants and service providers on financial market Non-profit organizations and associations, state institutions, state controlling entities, stakeholders

15 THANK YOU FOR YOUR ATTENTION! Arseniy Dabbakh RMG Partners Adrien Henni EWDN.COM