Almaz Capital was founded in 2008 by Alexander Galitsky, a former Soviet defense scientist who built and sold five technology companies - including ELVIS+, which partnered with Sun Microsystems on early Wi-Fi hardware - before turning to venture capital. Backed from inception by Cisco, EBRD, and IFC, the firm was built specifically to bridge Silicon Valley and Central/Eastern European deep tech, targeting AI/ML, IoT, cybersecurity, and enterprise software startups capable of scaling globally from origins in the CIS and Eastern Europe. That bridge-building produced real public and strategic outcomes including Yandex's NASDAQ IPO, Xometry's NASDAQ IPO, QIK's acquisition by Skype, Sensity Systems' acquisition by Verizon, and Acumatica's sale to EQT, with Almaz investing more than $300 million across three funds and 50-plus companies.
Yandex's NASDAQ IPO and Xometry's NASDAQ IPO - two of Almaz's clearest public-market outcomes, alongside QIK's acquisition by Skype, Sensity Systems' acquisition by Verizon, and Acumatica's sale to EQT