Almaz Capital Investment Firm Overview

Almaz Capital is a venture capital firm that focuses on investing in technology companies in Russia and Eastern Europe.

The firm was founded in 2007 by Alexander Galitsky and is headquartered in Moscow, Russia.

Almaz Capital has a dedicated team of investment professionals with a strong track record of identifying and supporting successful startups.

Their investment strategy is to back talented entrepreneurs who are creating innovative products and services that have the potential to scale globally.

Alexander Galitsky founded Almaz Capital in 2008 with three partners: Charles Emmitt Ryan, Peter Loukianoff, and Pavel Bogdanov. He was joined by Geoffrey Baehr, a former General Partner at US Venture Partners, who became an advisor to the fund.

The idea for Almaz Capital was born out of a meeting between Galitsky and Cisco, which wanted to invest in Russian tech projects. This led to the creation of a venture fund with Cisco's capital.

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In 2011, Skype made a significant move by acquiring Qik, a video-sharing service. This acquisition was notable for its impact on the Russian investment fund Almaz Capital Partners, which sold its shares in Qik.

Skype's acquisition of Qik was a strategic move that allowed the company to expand its services. Among the sellers of Qik shares was Almaz Capital Partners, whose managing partner, Alexander Galitsky, publicly acknowledged the exit from the invested fund on Twitter.

The sale of Skype's stake in Qik was a profitable move, allowing the company to earn from the sale of its share in the company.

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In 2009, Almaz Capital could buy a 1-2% stake in Internet Search Investments, which owns more than 35% of Yandex.

The deal was close to completion, with a source indicating that negotiations were nearly finalized.

The value of Internet Search Investments can be roughly estimated as 35% of Yandex itself, which was estimated to be worth $1.1 billion at the time.

This means that 1-2% of Internet Search Investments would cost $3.8-7.7 million, according to Leonid Delitsyn of Finam.

Almaz Capital Partners promised to invest $8-9 million in Russian startups and working companies over a period of 5-7 years.

Buying a stake in Yandex's shareholder is a strategic step for Almaz Capital Partners, as it will help them acquire startups and support Yandex's growth.

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In 2017, Almaz Capital invested in NFWare, along with a number of other funds. This investment was a significant milestone for the company.

The total volume of investments from all investors in this round was $2 million. This injection of capital helped NFWare take its next steps.

Almaz Capital was one of the investors that participated in this funding round.

Alexander Galitsky was inspired to create his own technology investment fund by Cisco, a multinational technology company.

The company proposed the idea of creating a venture fund with their capital to invest in Russian projects in 2004, as part of their strategy to expand into new markets.

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This idea was sparked by Galitsky's experience as the president of the international event "Tech Tour" in Russia, where he presented promising regional startups to a pool of international investors.

The bridge-model, which was previously successfully implemented by Galitsky in his own technological companies, served as the foundation for the new fund.

Almaz Capital was founded in 2008 by Galitsky together with his partners Charles Ryan, Peter Loukianoff, and Pavel Bogdanov.

Geoffrey Baehr, a former General Partner at US Venture Partners, joined Almaz Capital as an advisor, bringing his experience and expertise to the table.

However, in 2011, a dispute arose between Galitsky and Loukianoff, leading to Loukianoff's departure from the company.

As a result, the planned Almaz Capital II fund was delayed and only established in 2013, with Baehr joining as a partner in the meantime.

Almaz Capital has invested over $300 million in over 50 companies since 2008. The fund's main co-investors include notable names like Andreessen Horowitz, Bessemer Ventures, and Google Ventures.

The fund's key portfolio companies include 3DLOOK, a mobile-based body scanning technology, and Acronis, a cybersecurity company that acquired Almaz Capital's portfolio company nScaled in 2014.

Almaz Capital typically invests in rounds with 3-4 participants, with RTP Ventures, Highland Capital Partners, and Runa Capital being common co-investors. The fund's typical investment range is $5-10 million.

Some notable investments by Almaz Capital include GridGain, a joint round with Sberbank and RTP Ventures, and GoodData, a round syndicated with Andreessen Horowitz and Intel Capital. The fund has also invested in DMarket, a platform for trading in-game items, and OneSoil, an agrotech startup.

Here are some of Almaz Capital's key portfolio companies:

Almaz Capital Fund I was backed in 2008 with a capital of $72 million, thanks in part to a $30 million investment from Cisco.

The fund's investors included UFG partners, who contributed more than $20 million. A year later, the European Bank for Reconstruction and Development (EBRD) joined in, investing around $20 million.

The first fund focused on finding promising projects within the CIS countries that could be in demand on the global market.

Almaz Capital II was established in 2013, raising around $200 million from its limited partners, with Cisco remaining a major investor.

This fund excluded Russia-originated companies from its new investments and expanded its geographic scope to cover some regions of Eastern Europe, in addition to the CIS countries.

EBRD was still the main investor in Almaz Fund's III, which had a capital of $191 million and closed in 2021, with European International Fund (EIF) also joining as a major investor.

The fund's geographical focus shifted towards Eastern European countries, although the CIS remained within its scope of interest.

Almaz Capital invests in various areas, including software, mobile, information technology, enterprise software, and cloud computing. The fund has a strong focus on these sectors, with a significant portion of its investments going towards companies in these areas.

The fund's geographic focus is primarily on the United States, with a significant presence in Silicon Valley. Almaz Capital also invests in Eastern European countries, particularly those with a strong tech industry.

Here are some of the specific areas where Almaz Capital has invested:

Investing in FinalPrice is a notable example of Almaz Capital's investment strategy. The fund co-invested in FinalPrice, an online travel service, alongside Sistema VC and OKS Group.

Almaz Capital has a history of investing in companies with global potential, as seen in their investment in NFWare, a virtualization network function developer. This investment was made in 2017, with a total volume of $2 million.

The fund's portfolio includes over 50 companies, with investments exceeding $300 million. Almaz Capital has a diverse range of investments, including startups and established companies.

Here are some key investments made by Almaz Capital:

In mid-April 2021, the agricultural industry startup OneSoil raised $5 million. This investment was a significant milestone for the company.

Almaz Capital and PortfoLion invested in OneSoil, with Alexandra Galitsky being a key figure in the deal.

In mid-September 2022, a significant investment was made in a Bulgarian developer of devices for entering premises. $25 million was invested in Alcatraz AI.

The A-series funding round was led by the Alexander Galitsky Almaz Capita Foundation.

Almaz Capital has been involved in several notable deals over the years. One of the most significant exits was the sale of Qik to Skype in 2011.

The fund's managing partner, Alexander Galitsky, confirmed this on his Twitter account. This was the first exit for Almaz Capital from its invested companies.

In the same year, Almaz Capital also earned from the IPO of Yandex. The fund's investment in Yandex proved to be a profitable one.

Here are some notable deals made by Almaz Capital:

Almaz Capital has a proven track record of successful investments. The fund has closed several deals that demonstrate its expertise in identifying and nurturing promising startups.

In 2016, shares in Sensation Systems were sold to Verizon Communications. This deal highlights the fund's ability to identify companies with strong growth potential.

Appscotch was another successful exit for Almaz Capital in 2016, as it was purchased by AppAnnie. This acquisition shows the fund's capacity to recognize and capitalize on emerging trends.

The fund's portfolio companies have also been acquired by larger players in the industry. For example, Odin was bought by Ingram Micro in 2015. This deal demonstrates the fund's ability to create value through strategic partnerships.

In addition to these acquisitions, some of the fund's portfolio companies have gone on to achieve significant milestones. For instance, Vyatta was acquired by Brocade in 2012. This deal showcases the fund's ability to identify companies with strong growth potential.

Here are some of the notable closed deals of Almaz Capital:

Almaz Capital's partners are a talented and experienced group of individuals who bring a wealth of knowledge and expertise to the table.

Alexander "Sasha" Galitsky is the founder and managing partner of Almaz Capital. He's a graduate of MIET, an inventor, and a pioneer in the fields of Wi-Fi and VPN technologies.

The team is rounded out by Charles Emmitt "Charlie" Ryan, a Harvard College alumnus who co-founded UFG and served as its president. He also held a senior advisory role at Deutsche Bank and was the CEO of its Russian division.

Jeffrey "Jeff" Baer is another key partner, bringing his experience as a top manager at Sun Microsystems and a venture partner at U.S. Venture Partners to the table. He's a graduate of Fordham University with a degree in biotechnology.

Pavel "Pasha" Bogdanov is a co-founder and general partner at Almaz Capital. He holds a degree from Moscow Physico-Technical Institute, a PhD from Stanford University, and an MBA from INSEAD.

Amit Rudra Nazare is the general partner in Berlin, with over 25 years of experience in investing and operating in the areas of corporate software, telecommunications, semiconductors, and medical devices. He's a graduate of Hannover University with a degree in biomaterials and holds an MBA from Harvard Business School.

Here's a brief rundown of the partners: