IPOboard is Russia's first private equity and venture capital exchange connected to MICEX, the country's largest stock exchange. It allows small and medium businesses to raise capital from investors by facilitating the sale of private company shares. IPOboard provides easier access to financing for entrepreneurs and a way for venture capitalists to generate returns from investments. Target clients include new, growing companies seeking institutional investors and those with IPO ambitions. Basic requirements for listing include demonstrated market potential, a professional team, and at least 10% of shares available for sale.