U.S. Russia Foundation

USRF is the legacy organization of the U.S. Russia Investment Fund (TUSRIF), which was established by the United States government in 1995 pursuant to the Support for East European Democracy Act (SEED) of 1989. It was the result of the merger of two funds established in 1993-1994: the $340-million Russian American Enterprise Fund (RAEF) and the $100-million Fund for Large Enterprises (FLEER). Most of the money came from the United States Agency for International Development (USAID).

Its main goal was to promote investments in Russia. It specialized in "early venture, mid venture, and growth capital investments in middle market companies", with a focus on the "media, retail, consumer goods, financial services, information technology, and telecommunication sectors". TUSRIF and Kohlberg Kravis Roberts & Company owned 51% of the Imperial Porcelain Factory until 1999, when it was nationalized by the Government of Russia.

In 2000, it established DeltaBank, the first bank to sell Visa credit cards in Russia. In October 2000, it became a majority shareholder of the European Bank for Reconstruction and Development. Meanwhile, they acquired JPMorgan Chase's banking license in 2000 and established DeltaCredit, the first bank to sell residential mortgages in Russia, in 2001.

By 2005, TUSRIF had invested $300 million in 44 Russian companies, including the aforementioned DeltaBank and DeltaCredit as well as two television networks. However, DeltaCredit was acquired by the Société Générale for $100 million that year. Meanwhile, TUSRIF also invested in small businesses, for example in Nizhny Novgorod.

TUSRIF was replaced by the U.S. Russia Foundation (USRF) in 2008. Three years later, in 2011, the disposal of $150 million from the fund was tabled by the United States Agency for International Development(USAID) and the United States Congress, on the recommendation from the Obama administration that half should go to the United States Department of the Treasury and half to support American values in Russia. By 2012, the Obama administration asked Congress to allocate only $50 million to support human rights non-profit organizations in Russia.

The establishment of the U.S Russia Foundation was announced by presidents George W. Bush and Vladimir Putin at the 32nd G8 summit in 2006. It was an outgrowth of The U.S. Russia Investment Fund. It was registered in the United States in 2008 and in Russia in 2009. From 2009 to 2015, USRF operated a Moscow office and established good working relationships with Russian government institutions, including the Ministry of Education, and partnerships with Russian Universities, foundations, and non-governmental organizations. USRF was a member of the Russian Donors Forum and an active participant in Russian international education programs. USRF supported numerous projects in Russia (including the very successful EURECA program established in 2010) by being a co-funder together with Russian institutions.

Beginning in 2013, USRF along with other Western organizations came under increasing attack by anti-western Russian organizations and media. By 2015, its CEO, Mark Pomar, was denied entry into Russia.[6] Meanwhile, the organization was declared "undesirable" by the 2015 Russian undesirable organizations law.[7][8] Indeed, the Office of the Prosecutor General of Russia, chaired by Yury Chaika, suggested it posed "a threat to the foundations of the constitutional system of the Russian Federation and the state‘s security."[6] The United States Department of State (USDS) responded by saying, "We reject the contention that the Foundation's activities constitute a threat to Russia's security. On the contrary, this designation is another deliberate step to further isolate the Russian people from the rest of the world.".[9] Nevertheless, the USRF continues its mission to strengthen relations between the United States and Russia and to promote the development of the private sector in the Russian Federation. The USRF is supporting various development programs that build Russian innovation, entrepreneurship, education, and scientific expertise.[10] After the closure of USRF headquarters in Moscow, the Foundation relocated to Washington, D.C. in 2015.

USRF is credited with creating, funding, and running the EURECA Program, a business-oriented university program for US and Russian students. This initiative, backed by American and Russian support, enhanced business and entrepreneurship curricula in Russian universities with the ultimate goal of promoting bilateral development of new technologies and emerging business endeavors.[11] The pilot program was with students from the University of Maryland, College Park and Lobachevsky State University and eventually developed into an official program initiative between ITMO Research University in St. Petersburg and UCLA, leading to the co-founding of the iDealMachine start-up.[12][13] With the Yegor Gaidar Foundation, it also ran the Gaidar Summer Leadership Program, whereby Russian students spent two weeks at Purdue University to learn about entrepreneurship and start-up companies,[14] and the Improving Economics Instruction, where Russian economists spent two weeks in American universities.[11] It also ran the Economics and Entrepreneurship Experts Forum Program, which encouraged scholarships between American and Russian researchers in economics and entrepreneurship, and the Legal Education Exchange Program, which aimed to share pedagogical methods among American and Russian university instructors.[11]