Prospects for the Development of Venture Capital as an Economic Institution in Post-Soviet Countries

The development of venture capital in the post-Soviet countries has features of its historical formation.This field of activity is relatively new in the region, although it has deep roots in the history of such developed economies as the United States, the European Space, and Japan.However, the relevance of the research lies in the study of this phenomenon in the region of Central Europe, Asia, and the Caucasus.The paper aims to assess the benefits, risks, and prospects associated with venture capital in the post-Soviet space.The methods and materials used in the study included statistical material processed with statistical programs (SPSS) and mathematical modeling of forecasting results; calculations of economic indicators (ROE, IRR) and the level and required size of venture capital for business development; and the consideration of hypothetical situational models and the level and number of innovations.The chaotic and unstable development of the economic state of the EECCA countries creates various contradictions.Nevertheless, the study confirms the need for venture capital as a driving factor in the development of these economies.This research also covered such categories as crowdfunding and angel investors at the initial stages, even before venture investment.The results of the study find practical applications in stimulating business organizations that, for various reasons, search for new business methods.Venture organizations encourage entrepreneurs to open new business units to solve existing problems in society and various spheres of its functioning.These also organizations motivate investors to promote innovative enterprises in the developing economies of the studied region.