Translation. Region: Russian Federation –
Source: Moscow Government – Moscow Government –
An important disclaimer is at the bottom of this article.
Applications for the "Path to IPO" program have begun in Moscow. It is operated by the Moscow Venture Fund, which brings together expert and financial resources to prepare the city's tech companies for IPO.
The course is being implemented with the support of the Moscow Innovation Cluster on a digital platform. and.MoscowIts main goal is to provide companies with the necessary skills to attract investment through a pre-IPO, IPO, or bond issue. Participants will have access to theoretical materials, in-person intensive courses, and individual consultations with mentors.
Lectures, business games and individual consultations
The first part of the program is a theoretical module delivered online. Upon registration, participants will have 150-day access to expert video lectures, as well as additional materials, checklists, and document templates. Participants will study the requirements and procedures for entering the public market, the regulatory aspects of securities placements, and gain knowledge of the basics of preparing for a pre-IPO, IPO, or bond issue. Upon completion of the module, they will be able to take a final test and receive an electronic certificate or advanced training certificate.
The second part is a two-day in-person intensive course. Participants will put their acquired knowledge into practice through business games that simulate the processes involved in going public. Company founders who have already completed this process will share their experiences. Participants will also have an excellent opportunity to network with key market players—representatives of the stock exchange, investment banks, and development institutions.
In the third part of the program, participants will receive mentoring support, including individual consultations with mentors and a simulation of fundraising (book building). Experts will help develop a plan for entering the public market. This is a unique opportunity to address challenging issues with experienced mentors and identify growth areas for development—from choosing a managing bank and the documents required for registering and issuing securities, to an effective IR and PR strategy, and the issuer's life after the IPO. At the final event, the most promising companies will present their plans and receive feedback from representatives of the exchange, development institutions, auditors, and investors.
Developing a custom plan for raising capital through a public offering allows you to determine the most optimal instrument for bringing your company to the stock exchange or over-the-counter market, accurately assess your available resources, and set specific deadlines for each milestone. This includes registering documents with the stock exchange (the company's prospectus), selecting a managing bank, conducting an audit, and preparing a compelling pitch to investors.
Additionally, the best graduates will be eligible for a preferential loan of up to 100 million rubles from the Moscow Venture Fund. The funds can be used to cover expenses in preparation for the securities placement.
Path to IPO Program
The "Path to IPO" program has already proven itself as a valuable tool for preparing businesses for going public. Since its launch in June 2024, four streams have been completed, bringing together 300 potential issuers, and over 120 representatives of Moscow companies have participated in the practical module. Two companies have completed a pre-IPO, one has placed bonds, five more participants are planning a pre-IPO within a year, and three organizations are considering an IPO within two years.
The program's primary audience is CEOs of large technology companies and senior managers responsible for finance, PR and IR strategy, and corporate governance, focused on attracting investment through the securities market. Software and research companies are the most active participants, and the pre-IPO round remains the most popular capital raising tool.
Legal entities and individual entrepreneurs registered on the platform can submit an application. and.Moscow.
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Moscow Venture Fund The Fund combines the expertise and best practices of the venture capital market to create effective support tools for technology businesses. It supports entrepreneurs at all stages of development—from project inception to public market entry—and also provides financial support. Three main programs are currently available: preferential targeted loans for project development, scaling, and IPO preparation. Since its inception, the Fund has supported over 180 companies totaling two billion rubles and helped attract over five billion rubles in investment.
Moscow Innovation Cluster The cluster facilitates the creation of conditions for the implementation of priority areas of scientific and technological development in the capital. This includes the development and implementation of innovative technologies, the promotion of scientific, technical, and industrial cooperation, and the effective interaction of all participants in Moscow's innovation ecosystem. The cluster includes organizations from 87 regions of Russia. Developers and representatives of high-tech businesses have access to over 50 digital services and services available in the city. The project is overseen by the Moscow City Council. Department of Entrepreneurship and Innovative Development.
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