Much has been made of the massive $51 billion Russia has spent on the Sochi Olympics, spurring allegations of corruption and indulgence by contractors, government employees and leaders alike. But this isn’t Russia’s first extravagant project. The country spent more than $20 billion to makeover its Far Eastern port of Vladivostok for the 2012 APEC Summit and expects to spend just as much for the 2018 World Cup. It seems Russia is betting on itself as it seeks to take a bigger place on the international stage. But are private equity and venture capital firms doing the same?
To learn more about PE and VC investing in Russia and to read an interview with a Moscow-based VC, click here.