Investor Relations & Capital Introduction Services Relating to Belarus

Belarus built one of Eastern Europe's most successful technology export sectors, and then lost roughly half of it in three years.

Exports from the country's technology park peaked at approximately US$3.2 billion in 2021 and fell to around US$1.8 billion by 2023, a decline of about 45%. Employment in the cluster fell nearly 30% from 2022, to roughly 56,000 people.

This page sets out the position accurately, including the part that determines everything else. Belarus is subject to Western sanctions following the political repression that began in 2020 and the country's role in Russia's invasion of Ukraine in 2022. Most international investors cannot deploy capital here, and any party considering engagement must obtain their own legal advice on the sanctions position applying to them. Global Capital Network does not advise on sanctions compliance.

What the Belarusian Technology Sector Actually Is

The capability was genuine and is worth understanding rather than dismissing.

Technology was among the few substantially liberalised sectors in an otherwise state-dominated economy. The technology park established outside Minsk became the centre of a software development and maintenance industry serving international clients, with more than 90% of its output produced for export. By 2021, computer services accounted for around 30% of the country's total exports, and technology contributed a meaningful share of national output.

Products developed there reached very large international audiences, including widely used messaging, imaging and mapping applications and a globally successful video game.

Approximately 1,000 companies remain resident in the park under preferential tax arrangements, and technology still represents over 30% of national service exports even after the contraction.

Officials report that departures broadly stopped during 2024, that some developers wish to return, and that companies affected by sanctions have redirected toward Asian markets. Park authorities reported export growth and an increase in resident companies during 2025, alongside unresolved difficulties concerning certain crypto-sector residents.

Those reports come from the institution itself and should be weighed accordingly.

Where the Accessible Opportunity Actually Sits

For most international investors, the practical answer is not Belarus. It is Belarusians.

The engineers who left did not stop working. Substantial Belarusian technical communities now operate from Poland, Lithuania, Georgia, Cyprus, the United Arab Emirates and elsewhere, frequently having relocated entire teams and re-established companies under new jurisdictions.

Those businesses are reachable, investable and carry the same technical depth that made the original sector successful. A company founded by Belarusian engineers and incorporated in Warsaw, Vilnius or Limassol presents an entirely different proposition from one operating inside Belarus, and the distinction is the one that matters commercially and legally.

GCN works with relocated Belarusian founders on that basis: connecting companies now established in accessible jurisdictions with European and international capital.

Fundraising Preparation for Relocated Founders

Founders who have relocated face a specific set of questions that founders elsewhere do not, and preparing for them is worth doing deliberately.

Corporate structure and jurisdiction will be examined closely. An investor will want clarity on where the company is incorporated, where its people are, where its revenue arises and whether any residual Belarusian connection creates exposure. Answering that clearly and early removes an obstacle that otherwise stalls conversations.

Team continuity is a genuine strength. A company that relocated an intact engineering team has preserved something valuable, and demonstrating that continuity is more persuasive than presenting the move as a disruption survived.

GCN works with founders on the substance beneath that: whether commercial evidence survives reference checks, whether unit economics hold at the scale being projected, and whether the financial model exposes its assumptions rather than concealing them.

Client relationships should be addressed honestly. Companies serving international clients before relocation may have retained them, changed them, or rebuilt entirely, and investors will want to understand which.

Engagement and Access

GCN convenes private investor sessions across the European jurisdictions where Belarusian technical communities have re-established, connecting founders with allocators in Warsaw, Vilnius, Riga, Nicosia, Berlin and London.

Our programming addresses where this capability is genuinely concentrated: enterprise software development, financial technology, mobile applications, and outsourced engineering services.

Online sessions extend reach to allocators across Europe, the Gulf and North America, structured for assessment rather than exposure, with follow-up routed only where genuine interest is signalled.

For Investors

The technical capability is real and was internationally validated over two decades.

The relocated community is accessible. Belarusian engineering teams now operating from European Union member states and other jurisdictions can be invested in through ordinary structures, subject to appropriate diligence.

Competition for that talent is limited relative to its quality, because the disruption has obscured what remains.

The constraints are absolute and must be treated as such. Belarus is subject to Western sanctions. Capital cannot be deployed into the country by most international investors, banking relationships are severely constrained, and the political and legal environment carries risk that no commercial assessment can offset. Any allocator considering exposure with any Belarusian connection requires specific legal advice on their own position before proceeding.

GCN provides curated dealflow filtered against stated criteria rather than general distribution, and does not present opportunities that we understand to be inaccessible to the investors receiving them.

Partner with Global Capital Network

For Belarusian founders who have relocated and are building from accessible jurisdictions, GCN provides investor relations infrastructure connecting your company with European and international capital, and works with you on presenting structure, team continuity and commercial evidence to investors who will examine all three carefully.

For investors interested in Belarusian technical capability, we can facilitate introductions to companies now established in jurisdictions where investment is straightforward, and we will say plainly when something is not.

To discuss your objectives, whether you are building from Warsaw, Vilnius, Limassol or elsewhere, our team is available to talk through how we can help.