Almaz Capital

Almaz Capital is a global venture capital fund that invests in early-stage, capital-efficient technology companies operating in high-growth sectors. The firm primarily targets disruptive deep tech within the B2B software space, with a keen interest in areas such as Artificial Intelligence (AI), Machine Learning (ML), blockchain applications, the Internet of Things (IoT), edge computing enablers, and cybersecurity. Their investment strategy is designed to bridge companies from emerging tech regions to the global marketplace, fostering their growth and international expansion.

Almaz Capital was founded in 2008 by Alexander Galitsky, Charles Emmitt Ryan, Peter Loukianoff, and Pavel Bogdanov. The firm was initially backed by Cisco Systems and the European Bank for Reconstruction and Development (EBRD) with the vision of connecting Eastern European startups, particularly those from the CIS and CEE regions, with the resources and network of Silicon Valley. This "bridge fund" model aimed to leverage engineering talent in Eastern Europe for global markets. Over time, the firm's geographical focus has evolved, shifting its European operations to Berlin in 2017 and ceasing investments with ties to Russia in 2014 and Belarus in 2020, while remaining committed to supporting Ukrainian startups.

Almaz Capital has built a diverse portfolio of approximately 50 companies, with over $300 million invested. Notable exits include Yandex (IPO NASDAQ), Qik (acquired by Skype), Sensity Systems (acquired by Verizon Communications), and Acumatica (acquired by EQT). Recent investments span various industries, including Business/Productivity Software (Moonshot AI, Platma, specter automation, Dabbl, MakeTime, Cinarra), Specialty Retail (Refurbed), Hardware (USound, Minut), Database Software (ClickHouse), and other technology areas like 3DLOOK (AI-first mobile body measuring), DMarket (NFT trading platform), and Mobalytics (gaming).

The Almaz Capital team comprises experienced general partners and operational staff with diverse backgrounds in investment, operations, enterprise software, telecom, security, networking, analytics, data technologies, fundraising, LP relations, and portfolio management. Key team members include Alexander Galitsky (Co-Founder and Managing Partner), Charles E. Ryan (General Partner focusing on later-stage companies and exit strategy), Aniruddha Nazare (General Partner based in Berlin with expertise in enterprise software and telecom), Geoffrey Baehr (General Partner with a deep technical focus on security, networking, analytics, and data technologies), and Pavel (Pasha) Bogdanov (General Partner based in Berlin, involved in fundraising and portfolio management). Michael Bastholt serves as Partner & COO, overseeing operational leadership and investor relations, while Russell Green is the Financial Controller. Daniil Stolyarov and Tanya Dadasheva also contribute as partners and managing directors, respectively.