Formula VC
Formula VC is a privately held venture capital firm founded in 2021 and headquartered in Yerevan, Armenia, that supports early-stage startups through their growth stages by deploying capital and providing access to a global network of founders, operators, and investors, with a stated focus on the Armenian tech ecosystem and an AI-heavy public portfolio.
- Company typePrivate
- Founded2021
- HeadquartersYerevan, Armenia
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Formula VC does
Formula VC is a privately held venture capital firm co-founded in 2021 by Grigor Hovhannisyan and Karen Vardanyan, headquartered at Formula Hub, Buenos Aires Park, in Yerevan, Armenia. The firm supports startups through their growth stages, with stated focus on the Armenian tech ecosystem — which it characterizes as producing $2.5B+ in annual tech output with 20%+ growth over 20 years and a Top 5 global ranking in unicorns per capita. Its value proposition is built on proprietary deal access through a global network that includes founders of decacorns and unicorns, multibillion-dollar VC partners, and executives from FAANG, Fortune 100, and multinational corporations, supplemented by an advisory board of senior operators including the Co-Founder/CTO of PicsArt and the CIO of Viva-MTS.
The firm's public portfolio spans 18 companies across AI infrastructure (Wirestock's multimodal AI data platform for MAG7/AI labs, natural language candidate sourcing, AI recruiting, AI health), AI-applied SaaS (AI-powered WordPress, email security, media kit builder, product management), and deep tech (quantum SaaS, AI-driven high-resolution imaging radar, VLEO satellite constellation, therapeutic healthcare robotics, solar O&M with digital twins). Formula VC's disclosed investment activity centers on a co-investment in Wirestock's $23 million Series A (May 2026) alongside Nava Ventures (lead), SBVP, and I2BF Global Ventures.
Formula VC's business model is conventional venture capital: deploying LP-backed capital into early-stage startups with the intent to generate returns through exits and carried interest, while charging management fees on assets under management. The firm does not disclose fund size, AUM, LP roster, or fee structure in available sources. Its operating geographies are listed as EMEA, and headcount is reported at 1-10 employees, indicating a lean emerging-manager structure. The firm's AI depth is concentrated in personnel rather than proprietary technology, anchored by Venture Partner Michal Valko, a tenured researcher with Google DeepMind Paris and Meta (Llama 3) experience.
Formula VC firmographics
Firmographics- Name
- Formula VC
- Legal name
- Formula VC
- Website
- https://formula.vc
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Formula VC is a privately held venture capital firm founded in 2021 and headquartered in Yerevan, Armenia, that supports early-stage startups through their growth stages by deploying capital and providing access to a global network of founders, operators, and investors, with a stated focus on the Armenian tech ecosystem and an AI-heavy public portfolio.
- Ownership category
- akta.pro rank
Formula VC industry classification
Industry- Product category
- Venture Capital
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industries
- Micro-VC & Angel Funds (FSANAAAI), Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where Formula VC is headquartered
LocationHeadquarters
- HQ city
- Yerevan
- HQ country
- Armenia
- HQ region
- Asia
Offices1 record
Markets served
Formula VC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Formula VC product offering
Product offeringCore offering
Formula VC is a private venture capital firm that invests capital in early-stage startups during their growth stages, connecting founders with a global network of decacorn and unicorn founders, VC partners, FAANG/Fortune 100 executives, and a multinational advisory board. The firm also provides strategic guidance, syndication opportunities, and access to international innovation ecosystems, with participation in rounds such as Wirestock's $23M Series A alongside Nava Ventures, SBVP, and I2BF Global Ventures.
Product overview
Formula VC is a venture capital firm that supports startups with its network and resources during growth stages. As an investor, Formula VC does not offer a distinct product or service offering in the traditional sense — its value proposition centers on providing capital, strategic guidance, and access to a global innovation network rather than a technology platform or SaaS product.
Differentiator
Problem solved
Functional benefit
Products and services
- Formula VC Early-Stage Growth Capital
Companies that use Formula VC
Customer profileIdeal customer profiles1 record
Formula VC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Formula VC partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights4 records
Formula VC competitors and assessment
Company assessmentRegional players
- Day One Capital: Early-stage venture fund investing in tech startups from emerging Europe. Comparable stage, regional focus, and emerging-markets thesis.
- HIVE Ventures: Early-stage VC active in the Caucasus/Eastern European region backing tech and AI startups. Comparable stage and emerging-markets VC profile.
- Flashpoint Venture Capital: Early- and growth-stage tech investor across Central and Eastern Europe with emerging-markets angle. Comparable regional early-stage mandate and tech thesis.
Broad incumbents
- Speedinvest: European early-stage VC with dedicated deep-tech and AI-focused funds. Larger incumbent competitor for AI and frontier-tech allocations.
- Runa Capital: Global early-stage tech VC with strong Eastern European roots and deep-tech orientation. Larger incumbent with overlapping thesis on cloud, AI, and frontier tech.
Direct peers
- Granatus Ventures: Armenia-focused early-stage VC firm backing tech startups. Most directly comparable peer given shared Armenian ecosystem focus, similar stage, and tech thesis overlap.
- SmartGateVC: Early-stage venture fund focused on Armenian and Armenian-origin founders globally. Directly comparable by ecosystem, stage, and founder target.
- BANA Angels: Armenia's first angel investor network, founded by Formula VC's co-founder Grigor Hovhannisyan. Closely related peer with overlapping portfolio, syndicate infrastructure, and team.
- Acrobator Ventures: Operator-led early-stage fund investing in Eastern European and Central Asian tech founders. Comparable stage, geography, and operator-investor angle.
Emerging players
- Big Story Ventures: Early-stage investor backing AI and frontier tech startups. Comparable stage and AI-forward portfolio orientation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Formula VC social profiles
Digital presenceFormula VC financial estimates
Financial estimateRevenue estimate
Valuation estimate
Formula VC leadership team
Management profileNumber of profiles
Profiles11 records
Formula VC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Formula VC M&A and investment
M&A and investmentM&A
Investments19 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Formula VC
What does Formula VC do?
Formula VC is a private venture capital firm that invests capital in early-stage startups during their growth stages, connecting founders with a global network of decacorn and unicorn founders, VC partners, FAANG/Fortune 100 executives, and a multinational advisory board. The firm also provides strategic guidance, syndication opportunities, and access to international innovation ecosystems, with participation in rounds such as Wirestock's $23M Series A alongside Nava Ventures, SBVP, and I2BF Global Ventures.
Is Formula VC a public or private company?
Formula VC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Formula VC founded?
Formula VC was founded in 2021. It employs 1 to 10 people.
Where is Formula VC based?
Formula VC is headquartered in Yerevan, Armenia, in the Asia region.
Who are Formula VC's main competitors?
Regional players on record are Day One Capital, HIVE Ventures and Flashpoint Venture Capital. Broad incumbents are Speedinvest and Runa Capital. Direct peers are Granatus Ventures, SmartGateVC, BANA Angels and Acrobator Ventures. Big Story Ventures is listed as an emerging player.
Does Formula VC have an API?
No public API is recorded for Formula VC.
What industry is Formula VC in?
Formula VC's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 525 and its SIC code is 6282.