Authors: M.E. Konovalova, S.A. Zhironkin

Title of the article: Institutions of public-private partnership in the Russian venture capital industry and the effectiveness of their functioning

Year: 2025, Issue: 1, Pages: 35-44

Branch of knowledge: 5.2.1 Economics

Index UDK: 332.72

DOI: 10.26730/2587-5574-2025-1-35-44

Abstract: The article is devoted to the study of the issues of public-private partnership development in the venture market of Russia, which has been forming from the initial stage of market reforms, largely spontaneously. The need to improve the efficiency of venture market entities associated with the state is shown. The authors reveal the key patterns of formation and functioning of institutions that regulate and govern the activities of venture capital market participants. The purpose of the study: to determine the basic patterns of development of institutions of the Russian venture industry market, to substantiate the need to form a public-private partnership in Russian venture. The theoretical basis of the study is made up of works devoted to the issues of cooperation between the state and the business sector in the field of venture capital and increasing the efficiency of the public-private partnership mechanism. The authors analyzed the structure of asset allocation of Russian innovative development institutions, revealed the predominance of short-term financial investments in securities and placement of funds on deposits; while financial results are mainly declining. The article proves the necessity of improving the institutional environment that determines the development of the venture market in order to form the imperative of high-quality economic growth based on the implementation of innovations. The authors conclude that the institutions of innovative development in Russia are insufficiently effective.

Key words: venture funds capital institutions risk profitability venture industry venture investments startup

Receiving date: 25.02.2025

Approval date: 19.03.2025

Publication date: 07.05.2025

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