In Russia, startups need angels, not bodyguards — and now they may get them

Several proven Russian entrepreneurs have formed what looks to be the first promising seed-stage venture capital firm in Russia, called Runa Capital.

This is a significant development for the country, even if the sums involved are relatively small: The firm announced this week it has already raised $30 million and plans to raise more. The news is encouraging because the fund will provide the advice traditional angel investors in Silicon Valley have provided over the years: like how to rent an office, who to hire, and how to pay them.

Last month, I wrote that if you’re hoping to invest in Russia, you may want to hire a bodyguard and lay low. Russia’s lack of a rule of law and scant experience with capitalism has tragically set it behind many other countries.