According to Dsight, despite the coronavirus pandemic and its negative impact on the business environment, the Russian venture capital market continues to develop. The number of transactions increased by 35 compared to 2019.
The largest number of deals happened in the second half of the year, after the first wave of COVID-19. The growth of deals was noticed at almost all stages, but the greatest activity was in startups at more mature stages (Startup and Growth).
The total investment amount fell from $869 million in 2019 to $702.8 million. Since 2019, the number of acceleration deals fell sharply by 55% to 35%. But it was offset by the increased activity of business angels, who, according to Dsight, made 64 investments in 2020 (against 37 transactions in 2019).
EdTech has become one of the most successful markets in the pandemic, both in Russia and around the world. Educational startups in Russia raised $119.1 million in 36 deals. One of the important trends in 2020 was the development of educational platforms focused on one segment. For example, startups like Skyeng, SkillFactory, and MEL Science focus on a specific area. Healthcare has become another industry that has received an incentive to develop. In 2020, this market has grown more than sevenfold.