Mary I granted the Muscovy Company its charter in 1555.
The company grew out of the Company of Merchant Adventurers to New Lands, formed by English merchants interested in finding a northern sea route to Asia. Richard Chancellor’s 1553 voyage reached the White Sea and opened contact with Muscovy, where he negotiated trading privileges at Ivan IV’s court. The venture was then reorganized and rechartered under Mary I in 1555.
The Muscovy Company became England’s first major chartered joint-stock company and held a long-lasting monopoly over English trade with Russia. It was more than a commercial enterprise: its representatives helped maintain diplomatic links between England and the Russian state, which lacked easy access to the Baltic Sea.
The answer is sometimes confused with Elizabeth I because Elizabeth later granted the company a monopoly charter connected with whaling in 1577. That was a later privilege, not the original 1555 rechartering. Victoria and Anne ruled centuries afterward and were not involved in the company’s foundation.