Almaz Capital
- Company typePrivate
- Founded2008
- HeadquartersPortola Valley, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Almaz Capital does
Almaz Capital is a private venture capital firm founded in 2008 by Alexander Galitsky, a Ukrainian-born, Dutch-citizen investor known for pioneering Wi-Fi and VPN technology in 1990s Russia. The firm operates as a cross-border bridge connecting Western investment capital with early- to growth-stage technology startups in Russia, Eastern Europe, and Central Europe, with offices in Portola Valley, California (headquarters) and Berlin, Germany. Its stated functional role is to provide venture capital funding and strategic support, including board participation, to technology companies in these emerging European markets that would otherwise face limited access to Western institutional capital. The firm has 11-50 employees and runs an investment platform whose revenue mechanics are tied to equity participation in portfolio companies and transaction-related economics rather than disclosed management fees or product pricing.
The firm's recent disclosed portfolio spans a wide range of sectors and geographies, including biometric authentication (Alcatraz, Cupertino/of Bulgarian origin, $100M+ raised cumulatively), AI-driven website optimization (Moonshot AI, New York), AI dubbing (Dubformer, Amsterdam), AI no-code automation (PLATMA, Kazakhstan), warehouse robotics (Nomagic, Warsaw, $44M round), RegTech (Certivity, Munich), AI creative analytics (Alison.ai, led by Almaz at $13.3M seed), and recommerce (refurbed, Austria, €50M). Almaz typically participates as a co-investor alongside tier-one institutional names such as Khosla Ventures, EBRD, the European Investment Bank, UVC Partners, Earlybird, Plug and Play, and EIF/InnovFin, which functions as the firm's primary channel into deal flow. Deal sourcing is reported to come through direct networking, referrals within the startup ecosystem, and the firm's European Startup Embassy initiative.
Almaz's go-to-market is relationship-driven rather than product-driven: it does not sell software or services, and pricing, fund terms, and management fees are not publicly disclosed. The firm does not have a mobile app, an API, or AI/ML products of its own. In 2026 Russian prosecutors filed a case seeking to designate Almaz Capital as extremist over alleged support for Ukraine and to seize founder assets, a regulatory development that introduces material jurisdictional risk to the firm's historical Russia/CEE investment thesis even as it continues to actively deploy into EU and Central Asian deals.
Almaz Capital firmographics
Firmographics- Name
- Almaz Capital
- Legal name
- Almaz Capital
- Website
- https://almazcapital.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Almaz Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)
- akta.pro secondary industries
- Early-Stage Venture Capital (Series A/B) (FSANAAAB), Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)
Keywords
Where Almaz Capital is headquartered
LocationHeadquarters
- HQ city
- Portola Valley
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Almaz Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Venture Capital Returns: Almaz Capital generates returns through equity investments in early to growth-stage technology startups across Russia, Eastern Europe, and Central Europe. The fund connects Western capital with startups in these regions, providing capital appreciation through exits via IPOs, acquisitions, or secondary sales.
Distribution channels1 record
Marketing channels2 records
Almaz Capital product offering
Product offeringCore offering
Almaz Capital is an early-stage venture capital firm that invests in information technology startups, connecting Western capital with founders in Russia, Eastern Europe, and Central Europe. The firm provides equity financing across seed to growth-stage rounds, often co-leading or participating with other investors, and supports portfolio companies with strategic guidance and board participation.
Differentiator
Problem solved
Functional benefit
Products and services
- Early-Stage Technology Venture Fund
- Strategic Portfolio Support
Companies that use Almaz Capital
Customer profileSegments1 record
Ideal customer profiles1 record
Almaz Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Almaz Capital partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights5 records
Almaz Capital competitors and assessment
Company assessmentDirect peers
- Earlybird Venture Capital: Berlin-based pan-European early-stage VC with technology and growth funds; directly comparable geography and stage focus, and a documented co-investor alongside Almaz in Certivity's Series A.
- Speedinvest: Vienna-headquartered early-stage European VC investing across fintech, deep tech, and digital health; overlapping CEE/DACH geography and stage, and a co-investor with Almaz in refurbed's €50M round.
- Credo Ventures: Prague-based early-stage VC focused on CEE and Central Europe founders building global tech companies; the closest direct geographic peer to Almaz's CEE specialization.
- UVC Partners: Munich-based early-stage VC investing in European deep tech and enterprise software; direct stage and geography overlap, and a co-lead investor with Almaz in Certivity.
- Target Global: Berlin/Israel-based early and growth-stage tech investor with pan-European footprint and AI/digital consumer focus; comparable stage, ticket size, and geographic remit to Almaz.
- Foresight Group: UK-listed investment manager with significant European venture and growth equity exposure; co-invested with Almaz in Alison.ai, making it a directly comparable pan-European VC peer.
- btov Partners: European early-stage VC with offices in Berlin, Munich, and St. Gallen investing across digital and deep tech; comparable stage and DACH/CEE geographic footprint.
Emerging players
- Hoxton Ventures: London-based early-stage fund backing European technology companies with secondary CEE exposure; comparable thesis (European tech out of non-London hubs) but smaller scale.
Broad incumbents
- Khosla Ventures: US-based mega-VC with broad early- and growth-stage tech exposure; a documented co-investor with Almaz in Nomagic's $44M round and the natural syndicate partner for any CEE breakout.
Others
- European Bank for Reconstruction and Development (EBRD) Venture Capital: Institutional investor deploying venture and growth capital across the EBRD region; co-invested with Almaz in Nomagic and Alcatraz, providing comparable regional capital-pool exposure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Almaz Capital social profiles
Digital presenceAlmaz Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Almaz Capital leadership team
Management profileNumber of profiles
Profiles3 records
Almaz Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Almaz Capital M&A and investment
M&A and investmentM&A
Investments106 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Almaz Capital
What does Almaz Capital do?
Almaz Capital is an early-stage venture capital firm that invests in information technology startups, connecting Western capital with founders in Russia, Eastern Europe, and Central Europe. The firm provides equity financing across seed to growth-stage rounds, often co-leading or participating with other investors, and supports portfolio companies with strategic guidance and board participation.
Is Almaz Capital a public or private company?
Almaz Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Almaz Capital founded?
Almaz Capital was founded in 2008. It employs 11 to 50 people.
Where is Almaz Capital based?
Almaz Capital is headquartered in Portola Valley, United States, in the North America region.
How does Almaz Capital make money?
One revenue line is on record: venture Capital Returns.
Who are Almaz Capital's main competitors?
Direct peers on record are Earlybird Venture Capital, Speedinvest, Credo Ventures, UVC Partners, Target Global, Foresight Group and btov Partners. Hoxton Ventures is listed as an emerging player. Khosla Ventures is listed as a broad incumbent. European Bank for Reconstruction and Development (EBRD) Venture Capital is listed as an others.
Does Almaz Capital have an API?
No public API is recorded for Almaz Capital.
What industry is Almaz Capital in?
Almaz Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAE, Geography-Focused Venture Capital (Regional/Emerging Markets), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 523940 and its SIC code is 6282.