The Baring Vostok Private Equity Funds invest across a broad range of industries including oil and gas, consumer products, media and technology, telecommunications and financial services.

The firms founder Michael Calvey and five colleagues were arrested in February 2019 for allegedly defrauding Russian businessman Artem Avetisyan who is an associate of Putin and the FSB.

[2] Baring Vostok founded by Michael Calvey is best known for its early stage investment in Russian search engine, Yandex, acquiring a 35.7% stake in the business in 2000.

[10][11] At the time of the Yandex IPO, Baring Vostok is estimated to have generated value of approximately $4 billion, representing a return on its original $5 million investment in excess of 800x.

[12][13] Among Baring Vostok's other investments are Volga Gas,[14] Borjomi Mineral Water, Ozon.ru, Burren Energy, CTC Media, Centre of Financial Technologies, Enforta, ER-Telecom, 1C, Burren Energy, Novomet, Kaspi Bank, Orient Express Bank, Europlan, Novomet, Karo, Avito.ru, Tinkoff.ru, EMC and Golden Telecom,[10] Verticali and marketing platform "Mindbox".

With $205 million of investor commitments, Baring Vostok’s was the first foreign private equity fund raised in the aftermath of the 1998 Russian financial crisis.

[18] Following the buyout of the management company, in 2005, the Baring Vostok Private Equity Fund III was raised with total committed capital of $413 million.

[21] On 2 September 2019, the Russian Commercial Court of the Amur Region, Russia, ordered the seizure of the 41.6% share of equity in Vostochny Bank controlled by Baring Vostok.