A foundry in St. Petersbourg, Russia.
A several bronze statues modeled by Vasily Grachev are known with this foundry mark.
It looks like it was a “Father & Sons” kind of foundry as there are three different markings known: F.N. Nikalaev. M.N. Nikolaev and N.F. Nikolaev.
Most likely, V. Grachev used this foundry in his last years of productivity. These bronzes are marked underneath with the dates of casting – 1889, 1898, 1899.
One of the bronzes is signed with N. Grachev, what may suggest Vasily had a grandson N (Nikolay?).