When in 1980 the theatre was founded by Vladimir Malishitsky [ru], «Molodezhka» (as it is called among the fans) immediately became the place for meeting of progressive intellectuals and its performances turned to be reasons for debates on current issues.

He sees theatre's task as to enable the viewer to find correct answers to the turbulent questions of existence.

There is a highly-professional troupe in the theatre, since 1999 becoming bigger with graduated students from his acting-director's courses of Russian State Institute of Performing Arts.

Thus, the Theatre on the Fontanka became a unique ensemble – two theaters are located in the Izmailovo Garden [ru], which dates back to the 18th century.

There can be found such names as Dostoevsky, Shakespeare, Gozzi, Chekhov, Ostrovsky, Scribe, Molière, Bulgakov, Babel, Brecht.

Labeling the genre in the program of performance under its name, the theatre often departs from the usual formula, offering spectators options such as, for example, "nostalgia", "family history", "romantic metamorphosis", "an anthology of passion", "a vivid portrait of the play", "melodrama with quotations towards primitivism", and others.

To spread light by art, to give spectators moral strength and hope, that are so scarce in modern society."

In 1999, 2009 and 2014 the troupe was completed by new talents from the graduates of Russian State Institute of Performing Arts (The faculty led by Semen Spivak).