$1.3B IPO at NASDAQ, 2011
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We have built reputations as professional, value-added investors and successful entrepreneurs. You’ll find we possess winning track-records and have held senior executive positions in the world’s leading technology companies, venture capital partnerships, and investment banking firms.
Alexander (Sasha) Galitsky is co-founder and managing partner of Almaz Capital. He is a well-known innovator, entrepreneur and investor in Russia, in the U.S. and in Europe. In June 2010, he was appointed as the Board Member of the Skolkovo Fund.
Alexander serves on the boards of Acumatica, AlterGeo, Jelastic, and Parallels.
Prior to co-founding Almaz Capital, Alexander formed the Information and Communications Technology investment practice at Russian Technologies (“RT”), one of the first venture capital funds in Russia. Alexander was involved in investment community from 2003 as the President of the first TechTour-2004 event in Russia. Prior to his investment career, he founded and led as CEO five successful companies in the software, communications, semiconductor, internet and security sectors, including Elvees, ELVIS+, Elvis Telekom, EzWim and TrustWorks Systems.
With ELVIS+, a company he founded in the fall of 1991, he pioneered the development and commercialization of WiFi and FW/VPN technologies in collaboration with Sun Microsystems. Alexander has also been an individual investor and advisory/board member for a number of companies, including EzWIM (acquired by TMT Ventures), Magnifire (now F5, Nasdaq: FFIV), Parallels, Start-Telecom; NavMaps (now TeleAtlas), Acronis, S-Terra and PGP Inc.(acquired by Semantec). In 1993, he negotiated the first overseas and direct investment ever made by Sun Microsystems.
Prior to becoming an entrepreneur, Alexander served as one of the top Technical Executive for the Soviet Space Agency and Defense Industry. During his tenure there (1979-1992), he was responsible for the design and implementation of satellite and spacecraft software, as well as computer and data communication systems. Alexander was the youngest national program leader for on-board computer systems and low-orbit data communication systems for the Soviet “Star Wars” response program. He has over 30 patents for numerous inventions, including parallel processing, WiFi and VPN Security technologies.
Forbse.ru named Alexander the top influencer on Russian IT and internet business in 2011. He was also nominated as the best European VC of the Decade by The Investor AllStars Awards 2012. Additionally, he was honored as the most influential person in the Russian IT and Internet industry, and named “Technology Pioneer” at the World Economic Forum in Davos in 2000. Alexander is the Chairman of Advisory Board of Russian Venture Company and a member of Innovation Committee of Rostelecom. Alexander earned a PhD in Computer Science from joint authority of Defense Research Institute and MIPT.
Geoffrey Baehr is a General Partner at Almaz Capital investing in areas ranging from security and networking to analytics and big data technologies.
He led the investment in Vyatta, which was acquired by Brocade in 2012, as well as GridGain and Cinarra, where he currently holds board seats.
From 2000-2012, Geoffrey was a General Partner and later Venture Partner at US Venture Partners in Silicon Valley. He remains an Advisor to USVP.
Geoffrey served from 1988-2000 as Chief Network Officer for Sun Microsystems responsible for technical and strategic network directions. During his tenure at Sun, he developed advanced technical products and, with his team, obtained more than one dozen patents.
Over the past several years, Geoffrey has worked as an advisor to the Skolkovo Foundation and is on the panel of reviewers for Computer science related proposal reviews.
He earned a BA in Biochemistry and Natural Sciences from Fordham University.
Pavel (Pasha) Bogdanov is a general partner at Almaz Capital. His interests span software, gaming, and the Internet. He led deal execution for Jelastic, Parallels, Acumatica, Alawar, and other Almaz companies. Pasha is currently on the boards of Alawar Entertainment, AlterGeo, and Flirtic. He helps portfolio companies with strategy, fundraising, and recruitment.
Pasha was the head of the company selection committee for the 2009 Russian Tech Tour. Prior to joining Almaz Capital, Pasha was a partner at Russian Technologies (RT), an early-stage venture capital fund in Moscow. At RT, he managed ten of its portfolio companies and also led an investment into CIP, the leading Russian 3D cartography operator.
In 2005, he was recruited to Sistema Telecom. As Investment Director, Pasha arranged $2 billion of debt and equity financings for a number of Sistema’s portfolio companies. He was a member of the IPO team for Comstar-UTS (LON: CMST) and participated in and led the acquisitions of several regional fixed-line operators. Pasha led Sistema’s investment into Wavecrest, a wholesale telephony operator in the UK, and later negotiated the sale of Wavecrest to MTT. He participated in the investment committees of Comstar-UTS and MTS (NYSE: MBT), and also developed Sistema’s WiMax strategy and its relationships with regulators outside of Russia, and participated in a telecommunications operator auction in Turkey.
In 2002, Pasha joined KLA-Tencor, the leading semiconductor yield management company, as a Systems Design Engineer in Silicon Valley. Prior to KLA, he worked as a graduate research associate and post-doctoral fellow at Stanford University and Lawrence Berkeley National Lab (LBNL) at the University of California, Berkeley. His research was published in leading scientific journals, including Science, Nature, and Physical Review Letters. In 2003, he was part of the team that put together the first US-Russia Technology Symposium at Stanford, which brought together US and Russian venture capitalists and Russian technology companies.
Pasha earned a PhD from Stanford University, an MBA from INSEAD in Fontainebleau, France; and a BS from the Moscow Institute of Physics and Technology, Moscow, Russia.
Charlie Ryan is a general partner with Almaz Capital as well as chairman of UFG Asset Management and a senior advisor to Deutsche Bank AG.
His professional career combines top-level expertise and deep knowledge of both Russian and international markets, and began in 1989 with CS First Boston where he was a financial analyst. From 1991 to 1994, Charlie was an Associate and Principal Banker with the European Bank for Reconstruction and Development in London. In 1994, he co-founded United Financial Group (UFG), and as Chairman and CEO steered UFG to become one of Russia’s leading investment companies. In 1996 UFG also founded UFG Asset Management. In 2006 Deutsche Bank acquired 100% of UFG’s investment banking business, and Charlie Ryan was appointed Chief Country Officer and CEO of Deutsche Bank Group in Russia. UFG Asset Management remained independent. In August 2008, Charlie stepped down as CCO and CEO of Deutsche Bank in Russia and became Chairman of UFG Asset Management. While he remains Senior Advisor to Deutsche Bank AG, his primarily executive role is running UFG Asset Management, which today is one of the leading alternative Russia-focused asset managers with over $1.8 billion of assets in hedge funds, private equity and real estate investments. UFG Asset Management is a strategic partner of Almaz Capital.
In 1998, Charles initiated the New Technology Group within UFG, which sponsored an early-stage technology investment company called Ru-net Holdings whose investments include Yandex, the #1 search engine in Russian language markets, and Ozon, the “Amazon.com of Russia”.
He graduated with honors in Government from Harvard College.
Ross Hangebrauck is the Managing Director at Almaz Capital where he is adept at managing the complex nature of an international fund. He is a primary interface between limited partners, general partners, operations and the Silicon Valley-based venture capital community.
He also works with portfolio executives and entrepreneurs, many of whom have operations both in Silicon Valley as well as Russia or surrounding countries.
Most recently, Ross was an early investor in a computer vision software company, Hover Inc., and currently remains the Board Chairman.
Prior to joining Almaz, he spent six years as a start-up CEO. Before that, Ross was a financial advisor at Merrill Lynch managing financial portfolios and relationships.
While studying business at Chico State University, Ross joined the US Military and served as a Navy Seal working in various operational theaters around the world.
Daniil Stolyarov is the Investment Director at Almaz Capital, responsible for bridging Almaz partners and portfolio companies in Silicon Valley and Russia/CIS. Working with portfolio executives and entrepreneurs both in Russian and Silicon Valley, Daniil is focused on helping companies develop and successfully grow their operations and organizations across borders.
Daniil is a seasoned investment professional with over 10 years of experience in advising technology, media and communication companies in Russia and the Silicon Valley in the fields of corporate finance, mergers & acquisitions, strategic partnerships, public and private financings. Previously Daniil worked at Cowen and Company, Lehman Brothers, and Renaissance Capital.
Prior to his work in banking, Daniil co-founded and served as a board member of itour.ru, a Russia-based online travel company with operations in Russia and Ukraine.
He graduated from Finance Academy in Moscow and earned an MBA from Tuck School of Business at Dartmouth University.
Lyubov Simonova is a principal at Almaz Capital. She’s open to all entrepreneurs with ideas and companies that make technological business advancements in fields such as Internet advertising systems, platforms for e-commerce, new media, financial services, and cloud platforms for marketing and advertising services. She participates regularly as a speaker at major industry events in Russia and CIS.
Lyubov joined Almaz Capital Partners as a Principal in November 2010 to head the firm’s Internet practice for Russia/CIS. Prior to joining Almaz she was head of strategy and business development at Finam Investment Company, based in Moscow, and a project manager for eHouse Holding and Manifest, where she focused on developing the system of online advertising and on some of the first online advertising campaigns for the nascent Russian Internet market. Lyubov is recognized as one of the “leading ladies” of the Russian Internet and digital media industry. She was a member of council under the commission on the modernization and innovation development in the Russian State Duma in 2011-2012. In 2012 entered Top 10 power women in Russia.
Lyubov graduated from the Lomonosov Moscow Institute of Fine Chemical Technology with a BS in biotechnology and an MS in bioorganic chemistry.
Victor Osyka is an associate at Almaz Capital where he focuses on screening and due diligence of seed and early stage startups in the Almaz Capital Moscow office.
He joined the team after serving as an MBA intern in the Summer of 2011.
In 2009-2010 Victor was a co-founder of Re3Derm, a startup for commercialization of an after burn drug for the professional cosmetics market, where he was responsible for product management and business development. From 2006 to 2009 Victor worked as a management consultant at Deloitte and A.T. Kearney, helping CIS and global clients in industries from retail and FMCG to manufacturing and nuclear.
While at university, Victor co-founded the Business case club, as well as established the community Zanyatie.Ru, where more than two dozen Russian and foreign Forbes-level entrepreneurs, executives, and advisors held over 120 workshops for more than 700 students.
Victor earned his BA in Engineering from University of Printing Arts, an MA from Higher School of Economics and an MBA from the London Business School, where he was MSc07 scholar.
Irina Goryacheva is the general director of the Almaz Capital Moscow office. She is responsible for the Russian operations as well as the public relations and government relation functions of the firm.
Prior to joining Almaz, Irina served as the director of organizational development for the Evraziyskiy Group. She also ran a management consulting firm, Attracta, which she founded; and was an executive recruiter with Ward Howell International and H.Neumann Intenational, where she specialized in building finance and investment teams with C-level executives. As operations/program director, Irina also organized and managed several innovation, venture capital and technology events including Russian TechTour 2004 & 2009; Innovation Forum “Go, Russia!” 2010 and the VC Trip to Russia 2010.
She earned a M.S., Economics from the Russian Academy of Sciences and a B.S. in socio-economic geography from Lomonosov Moscow State University.
One of our responsibilities as venture investors is to help our portfolio companies achieve scale and success. Our advisors and extended team members share that commitment. They were specifically invited to join us, because they have played key operational roles in building businesses from the start-up phase to dominant market positions. Their role is to assist the Almaz investment team, and our entrepreneurs, with key industry contacts and strategic advice.
Alexander Andreev is an Entrepreneur in Residence at Almaz Capital.
Alexander is also the CEO of SoftJoys, one of the longest established Russian software development companies. He was an Associate Professor of Mathematics, working on wireless and DSP algorithms when, bitten by the entrepreneurial bug, he founded SoftJoys.
Later he co-founded SJ Labs, a company working on VoIP technologies for the international market. Under his leadership SJ Labs developed one of the first softphones in the world, which won many “Best Product” awards. It remains the best softphone in the market.
SJ Labs became world leader in VOIP software development and was sold to and is now a part of MagicJack Vocaltech (NSDQ:CALL).
Alexander is also a board member of several startups, including Kuznech and a co-founder of Excursia.
He has been a member of the Board of Russian Software Development Association, RUSSOFT, since 2000. Alexander graduated from St. Petersburg University with a degree in Physics.
Anatoly Gaverdovsky is an Entrepreneur in Residence at Almaz Capital. Anatoly is a serial high-tech entrepreneur and experienced international executive.
He is currently a CEO of Yam Labs. Anatoly started Yam Labs to solve the problem of ineffective meetings using modern cloud-based technologies. He has built the technology and raised VC funding to market the product in the US. Anatoly is also a founder of InvisibleCRM, a market leader in integration technology between Personal Information Managers (Microsoft Outlook and Lotus Notes) and Business Application, and VDI, a software development services company with development centers in Russia, Ukraine and Armenia (acquired by EPAM).
Anatoly holds an MS degree from Bauman Technical University in Moscow.
Jon Feiber is an advisor to Almaz Capital. He has been investing in early-stage technology companies for more than 20 years starting with Mohr Davidow Ventures (MDV), a leading venture capital firm, which he joined as a general partner in 1992.
He has substantial management, software engineering and product development experience as well as significant experience in the venture capital industry analyzing, investing in and serving on the boards of pioneering technology companies such as Brocade, Epigram, Ipsilon Networks, ONI Systems and Zip2. He currently holds board seats at Marble, Neon, Panasas, Proofpoint, and Sensity Systems.
Jon began his career as a software programmer for mainframe maker Amdahl Corp before holding various managerial positions at Sun Microsystems, which he left as a vice president.
He is a consulting Associate Professor at the Hasso Platner Institute of Design (d.school), Stanford University. Jon holds a distributed studies bachelor’s degree in computer science, mathematics, and astrophysics from the University of Colorado.
Dr. Ed Lu serves as an advisor to Almaz Capital. He also works with several entrepreneurial companies in Silicon Valley including Hover Inc. and Liquid Robotics.
He served as Program Manager for Advanced Projects at Google Inc. from 2007 to 2010. He was responsible for a diverse group of projects ranging from Google Street View imaging, book scanning technology, imaging for Google Maps/Earth, and energy projects including Google PowerMeter, an online tool for monitoring home energy usage.
Prior to Google, Ed served as a NASA Astronaut for 12 years. He flew the Space Shuttle twice, the Russian Soyuz, and a 6 month tour on the International Space Station. Altogether he logged over 206 days in space and an EVA (spacewalk) totaling 6 hours and 14 minutes. Dr. Lu flew as a mission specialist on STS-84 in 1997, as a payload commander and lead spacewalker on STS-106 in 2000, as flight engineer of Soyuz TMA-2, and served as NASA ISS science officer and flight engineer on ISS Expedition-7 in 2003.
Recognitions in his twelve year NASA career include NASA’s highest honor, the Distinguished Service Medal, as well as the NASA Exceptional Service Medal, Russian Medal of Merit for Spaceflight, Gagarin Medal, Fédération Aéronautique Internationale Komorov Medal, Beregovoy Medal and three (3) NASA Spaceflight medals.
Ed has also served as a scientific advisor to the White House and NASA on space technology and policy issues. He helped drive energy policy work for Google.org, the philanthropic arm of Google. In this role he testified before the US Congress on energy issues, and met with officials on both the Federal and State level to ensure that consumers are granted access to their own home energy use information. In addition, he has testified before both the US Senate and House of Representatives on aerospace issues. Ed recently served as a commissioner with the Center for Strategic and International Studies Commission on US/China Relations.
He received a PhD in Applied Physics from Stanford University and a Bachelor’s degree in Electrical Engineering from Cornell University.
Allan Martinson is an Advisor to Almaz Capital giving the firm a connection to the booming tech entrepreneurial scene in the Baltic states.
Allan currently manages MTVP, a leading VC fund in the Baltic states. During his career as an entrepreneur prior to MTVP, Allan launched, managed and exited several companies in the Baltic TMT sector, all of which became leaders in their respective industries. He was the founding CEO of Baltic News Service, which quickly became the dominant real-time news organization in the region after outcompeting and bankrupting its state-owned competitors. In 1998 Martinson joined MicroLink, the leading PC maker in the Baltics, and re-launched it as a fast-growing and diversified technology group, backed by four rounds of equity investments. As the CEO of MicroLink, Martinson orchestrated an aggressive M&A campaign to create the leading IT services and data communications group in all three of the Baltic countries. MicroLink
launched Delfi , the leading Baltic new media enterprise. Delfi was sold in the fourth year of its existence after reaching profitability. Allan was nominated for the Businessman of the Year in 2000 and got the Best Decision Award in 2004 for successfully executing the strategy of MicroLink.
Michael O’Flynn assists Almaz Capital in marketing and investor relations. He is a Managing Director and head of the Boston representative office of UFG Asset Management and UFG’s Global Head of Business Development. He is responsible for fundraising and partnerships across all asset classes (private equity, real estate, agriculture, and debt & equity marketable alternatives).
Michael has worked for United Financial Group (“UFG”) in several capacities throughout his career. He most recently rejoined UFG Asset Management in April 2009, after spending several years with Deutsche Bank following DB’s purchase of UFG’s investment banking operations. Michael was a partner at UFG’s investment bank, where he successfully built the firm’s consistently top-rated sales and trading franchise, first in Moscow and later in New York. Prior to that, he worked for Deutsche Bank in Tokyo for four years after he was redeployed from Deutsche’s Moscow office following the 1998 Russian financial crisis.
Michael graduated from Dartmouth College in 1991, and received an MBA from the University of North Carolina’s Kenan-Flagler Business School in 1998. He is also a Member of the Board of the U.S.-Russia Chamber of Commerce of New England.
Sergei Beloussov is now an advisor to Almaz Capital. Previously he was a Venture Partner in Almaz Fund I.
A successful self-made entrepreneur and business executive, he is the Chairman of Parallels, an Almaz portfolio company that has grown to become a worldwide leader in hosting and cloud service enablement and desktop virtualization. Under Sergei’s leadership, Parallels grew quickly to profitability and now holds the #1 market position with its innovative desktop virtualization. The company has sold more than 3 million copies and serves 9,000+ service providers and 10+ million end-user customers in 125 countries.
Sergei holds a B.S. in Physics, an M.S. in Physics and Electrical Engineering with High Honors, and a Ph.D. in Computer Science from the Moscow Institute of Physics and Technology.
Yuriy Fedorov serves as the CFO of Alawar, Almaz portfolio company, since 2010.
Before joining Alawar, Yuriy served as the CFO of Almaz, and was on the founding team of Almaz. Before Almaz, Yuriy served as CFO of Russian Technologies. He joined Russian Technologies in 2005 after a 10-year career in finance with HP. At HP, his responsibilities included corporate accounting and reporting, and overseeing HP financial departments in Russia, Ukraine, Kazakhstan and Azerbaijan. He was also responsible for assessment and coordination of investment initiatives throughout Russia.
Yuriy graduated with honors from the Academy of Finance under the Government of the Russian Federation. He earned Certified Public Accountant credentials in the United States.
Peter Loukianoff was a co-founder of Almaz I. He led Almaz investments in nScaled and Qik (acquired by Skype).
Prior to establishing Almaz, he was a partner at Alloy Ventures from 2001-2008. Before joining Alloy, he was on the founding teams of Autonomy, Inc. (US), a pioneer in Internet search, and Ubiquinet, Inc., a location-based services and software company.
He earned an MBA and BS Engineering from the University of California, Berkeley.
We strive to provide our entrepreneurs and investment partners with extraordinary insights and global market expertise. Beyond providing venture capital, we work tirelessly across multiple time zones, open doors to unparalleled talent and a global network of relationships, and help pave the way for our companies to succeed around the world. In addition to years of both operational and investing experience in Silicon Valley, Russia, the CIS, and Europe, we have experience in engineering, business development, operations, sales and marketing, management consulting, strategic planning and banking. We possess an unrivaled experience base and know what it takes to make a business work.
We invest in companies that have strong management teams, large market opportunities, and possess either a proprietary technology or some other defensible and sustainable competitive advantage.
Cloud ERP and financial software company
Developer, publisher and international distributor of casual games
Location-based social advertising service
Mobile Analytics Technologies
A social network that simplifies how people meet
Java and PHP Web Cloud Hosting
Disaster Recovery (Raas), Online Backup Cloud Storage
Virtualization and automation software
Consumer application for sharing mobile videos and enabling real-time video chat (acquired by Skype in 2011)
Advanced routing and security software (acquired by Brocade in 2012)
Russian language search engine and Internet portal (IPO, Nasdaq 2011)
3D mapping technology
Mobile POS terminal
Although we often work with an entrepreneur before anything has been committed to paper, at some point we will want to see a detailed business plan or presentation. A good business plan is more than a money-raising tool. It is also a working document that captures the essence of your company and accurately models the requirements for executing your strategy over time. When building the plan, it is crucial that you talk with your customers, evaluate your competitors, and complete a rigorous financial model based on available market data and reasonable assumptions.
Your business plan should describe:
Meeting and getting to know you and your team is a very important part of the evaluation process. Your team’s ability to clearly articulate and summarize the important issues in your plan will reflect their true understanding of the business and how well they will be able to sell your ideas to future employees, investors and customers.
Resources for Entrepreneurs
We invest in highly-motivated, bright and passionate entrepreneurs — based in Silicon Valley or from Russia and surrounding countries — developing proven technologies that will serve global markets. The companies will be incorporated in western jurisdictions. Our investment activities are focused in, but not limited to, the following areas:
The best way to ensure that your idea or company gets the attention it deserves is to approach us with a referral from someone we know and trust. It’s often helpful to surround yourself with people on your board, in senior management positions or in key advisory roles who have established track records of success and relevant industry experience.
We typically begin by reviewing an executive summary that describes your business, which should include a description of your product or service, the market (target customer, size of opportunity, etc.) the team and their relevant experience, and some high level financial projections.
Your executive summary will be evaluated by one of our partners. After we understand the underlying idea behind your company and whether it’s a good fit for our fund, we will invite you to show us a presentation with founders and key employees. Once we complete initial due diligence and review of your business plan, we will negotiate the price and terms of an investment and obtain conditional approval from our partnership based on the price and terms negotiated. We will then propose a non-binding term sheet. Once the term sheet is mutually accepted, definitive agreements will be drafted. Upon completion of definitive agreements and final due diligence (including personal reference checks), we can obtain final approval from our partnership, execute the definitive agreements, and transfer funds.
Learn more about our companies and their successes, and look for us at major industry events and conferences.