Almaz Capital
Venture capitalPortola Valley · Series A–Series B
Also known as ALMAZ CAPITAL MANAGEMENT LTD.
Investment thesis
Transatlantic bridge connecting CEE/CIS deep-tech and B2B software teams to US/EU markets, leveraging co‑founder Alexander Galitsky’s cross‑border deep‑tech experience and offering structured US go‑to‑market and Western governance support.
Source: firm website, verified Aug 25, 2026.
What they invest in
from 28 of 32 portfolio companiesAI & Machine Learning ×13SaaS ×12Enterprise Software ×10Cloud Computing ×5Data & Infrastructure ×5Hardware ×5Consumer ×3E-commerce ×3
HQs:United States×10Germany×4Estonia×1Israel×1Latvia×1Sweden×1
Investments · 32 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 12020 · 12016 · 14 dated
Xometry operates an on-demand manufacturing marketplace connecting buyers—from startups to global enterprises—with a vetted global network of suppliers for precision components across prototyping and high-volume production.
Advanced ManufacturingB2B MarketplacesLogistics & Supply ChainGaithersburg, US
Randy Altschuler(Founder)in
BoardGeorge Hornig(Director)Laurence Zuriff(Executive Officer, Director, Promoter)John Deutch(Director)
Co-investorsBMW i VenturesCherry VenturesDell Technologies CapitalMaryland TEDCOPraxis Ventures Management, LlcTEDCO
FitXpress uses AI-powered computer vision to estimate body weight from images, enabling verification of self-reported data for BMI calculations in healthcare and wellness applications.
AI & Machine LearningConsumerHealthtechMedical Devices
Alex ArapovIvan MakeevVadim Rogovskiy
Co-investors500 Emerging Europe500 Global
Acronis provides a cloud-native platform for managed service providers (MSPs) offering cyber protection, data backup and recovery, endpoint security, and governed AI productivity services.
Cloud ComputingCybersecuritySaaSSchaffhausen
Thomas Michael Triplett(Director)Ravi Jacob(Director)Serguei Beloussov(Director)Ilya Zubarev(Director)Rene Bonvanie(Director)
Co-investorsCVC Asia Pacific (Japan) Kabushiki KaishaDelta-v CapitalLiquidity CapitalMillennium New HorizonsMillennium Technology Value PartnersNovaCapital+3 more
Alcatraz develops facial recognition technology for access control systems.
AI & Machine LearningCybersecurityEnterprise SoftwareHardwareMountain View, US
Vince Gaydarzhiev(Executive Officer, Director)Scott Macomber(Director)Raymond Stata(Director)Tina DAgostin(Executive Officer, Director)
Co-investorsBlackPeak CapitalCogito Capital PartnersGolden SeedsHCVCHemi Ventures, LlcRuvento Ventures Pte Ltd.
Areti Health provides an AI patient coordinator that engages, pre-screens, schedules, and follows up with patients across SMS, email, web, and voice in 22 languages to support clinical trial recruitment and enrollment.
AI & Machine LearningDigital HealthHealthtechHillsborough, US
Ilya Gluhovsky(Executive Officer, Director)Paul Neyman(Executive Officer, Director)
BoardRob Leclerc(Director)in
Co-investorsAgFunderPreface Ventures
Certivity is an AI-powered product compliance platform that converts regulations, standards, and internal documents into engineering-ready requirements, keeping them linked to source, traceable, and up to date.
AI & Machine LearningEnterprise SoftwareSaaSMunich, DE
Sami Vaaraniemi(Founder)
Co-investorsEarlybird Venture CapitalUVC Partners
Cinarra operates a privacy-first measurement and analytics platform that uses mobile and location data to connect digital ad campaigns with real-world consumer behavior.
AdTechData & InfrastructureMarketing Tech
Co-investorsSoftBank Group
DMarket is an online marketplace for buying, selling, and trading in-game skins and virtual items for games such as CS2, Team Fortress 2, and Rust.
E-commerceGamingMarketplacesSanta Monica, US
VOLODYMYR PANCHENKO(Executive Officer, Director)Tamara Slanova(Founder)inTAMARA SLANOVA(Director)
Co-investorsPantera Capital
GridGain provides an enterprise-grade in-memory computing platform built on Apache Ignite, enabling real-time data processing, analytics, and AI/ML workloads for mission-critical applications.
AI & Machine LearningData & InfrastructureEnterprise Software
Co-investorsR136 VenturesSilver Lake PartnersThe Perkins Fund
Hover transforms smartphone photos into interactive 3D models of homes and buildings for construction professionals, insurance experts, and homeowners to measure, design, and scope projects.
Construction TechHardwarePropTechSaaSSan Francisco, US
Adam J. Altman(Executive Officer, Director)Kevin Reilley(Executive Officer, Director)Adam J Altman(Executive Officer, Director)Charles Galford(Director)Aldo Manzini(Director)
BoardRoss Hangebrauck(Director)
Co-investorsAlsop Louie PartnersAmerican Family VenturesFinSight VenturesInventus Capital PartnersMenlo Ventures
Minut produces Internet of Things devices and software for managing shared properties such as multifamily housing and short-term rentals, helping operators monitor spaces and make decisions while protecting privacy.
Enterprise SoftwareIoTPropTechMalmö, SE
Nils Mattisson(Co-founder)Fredrik AhlbergMartin LööfNils Erik Mattisson(Founder)Marcus Ljungblad
BoardHampus Jakobsson(Director)
Co-investorsCuriosity VCKarma VenturesKOMPAS VCKPN Ventures
Co-investorsCabra VCRRE Ventures
Moonshot is a platform that automates optimization of eCommerce websites through continuous testing and improvement, reducing the need for large teams of designers, developers, and analysts.
AI & Machine LearningE-commerceSaaSTel Aviv, IL
Evyatar Segal(Founder)Sebastian Gebhart(Chief Revenue Officer)
Co-investorsGaruda VenturesMighty CapitalOceans Ventures
Co-investorsRheingau FoundersTDJ Pitango Ventures
Nomagic develops robots and automation systems to assist warehouse operators and managers with repetitive manual tasks.
AI & Machine LearningLogistics & Supply ChainRobotics
Kacper Nowicki(Founder & CEO)in
Co-investorsCapnamicCogito Capital PartnersDN CapitalEBRD Venture Capital Investment ProgrammeEvolution VC PartnersHoxton Ventures+4 more
Petcube makes internet-connected pet devices, starting with pet cameras, and operates a platform for curated pet products that use data analytics to provide insights into pet health and behavior.
AI & Machine LearningConsumerHardwareIoTSan Francisco, US
Yaroslav Azhnyuk(Founder/CEO)inAndriy Klen(Founder/Chief Design Officer)inAlex (Sasha) Neskin(Founder/CTO)in
Co-investors408 VenturesAVentures CapitalCabra VCICU VenturesY Combinator
Portside provides a software platform for business and general aviation, serving flight departments, charter operators and FBOs across 30+ countries.
Cloud ComputingEnterprise SoftwareSaaSTravel & HospitalityFoster City, US
ALEK STRYGIN(Executive Officer, Director)ALEK VERNITSKY(Executive Officer, Director)
BoardJOHN CURTIUS(Director)
Co-investorsJ17 CapitalRecall CapitalSAV (Scale Asia Ventures)Locus Ventures
Rasa builds a conversational AI platform that extends large language models with business logic, enabling enterprises to develop AI agents that handle high-volume interactions securely.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US
Alex Weidauer(Co-founder & Strategic Advisor)Tom Bocklisch(Principal Architect)
Co-investorsAccelBasis Set VenturesPayPal VenturesAndreessen HorowitzDig Ventures Management LimitedKickstart Innovation+4 more
Refurbed operates a marketplace for refurbished electronics, where devices are reconditioned through a multi-step process and sold to consumers as more environmentally sustainable alternatives to new products.
Circular EconomyE-commerceMarketplaces
Co-investorsC4 VenturesEvli Growth PartnersExpon CapitalSevenVentures
Sonarworks develops audio personalization technology and sound correction software for music creators, recording studios, and consumer listeners.
AI & Machine LearningConsumerCreator EconomyHardwareSaaSRiga, LV
Martins PopelisHelmuts BemsInguna Kronberga(Executive Officer)
BoardGeoffrey Baehr(Director)Kristjan Laanemaa(Director)in
Co-investorsKarma VenturesPerot JainSpecialist VCPractica CapitalSuperAngelTrind Ventures
Specter automation is a ConTech startup that builds software for digitizing construction sites, designed together with construction site users such as site managers and foremen.
Construction TechPropTechSaaSCologne, DE
Max Gier(Founder)in
Co-investorsLBBW Venture Capital GmbHTechVision Fonds
StarWind Software builds hyperconverged infrastructure (HCI) products, offering both hardware appliances and storage virtualization software such as StarWind Virtual SAN that pools flash and disk storage to replace traditional SAN/NAS/DAS hardware.
Cloud ComputingData & InfrastructureEnterprise Software
Co-investorsAVentures Capital
Workerbase offers a connected worker platform for manufacturing that digitizes shopfloor work, delivers guided digital work instructions, orchestrates tasks by worker skill, and connects to factory systems and machines.
Advanced ManufacturingAI & Machine LearningFuture of WorkSaaSMunich, DE
Thorsten Krueger(Founder)inNorman Hartmann(Founding team member)in
Co-investorsBayern KapitalPoint Nine
Xolo provides business setup, invoicing, accounting, taxation, and compliance software for solo entrepreneurs and freelancers across multiple countries.
Enterprise SoftwareFintechFuture of WorkLegalTechSaaSTartu, EE
Allan Martinson(CEO)
Co-investorsKarma VenturesMetaplanetSpecialist VCThorgate VenturesVendep Capital
Yazen offers a weight-loss programme that combines medical treatments, including weight-loss medication, with personalised support from doctors, coaches, psychologists, dietitians, and personal trainers.
Digital HealthHealthtechWellness & Fitness
Co-investorsEvli Growth PartnersLuminar Ventures
ZEDEDA provides a platform for deploying, orchestrating, and securing edge AI models, agents, and autonomous workloads across distributed sites such as factory floors, field sites, retail stores, and shipping vessels.
AI & Machine LearningCloud ComputingEnterprise SoftwareIoTSan Jose, US
Said Ouissal(Executive Officer, Director)in
BoardLisa Edwards(Director)inBilal Zuberi(Director)inJuan Muldoon(Director)inKevin DeNuccio(Director)Steve Mullaney(Director)
Co-investorsAlpha Wave GlobalEnergize CapitalLux CapitalProsperity7 VenturesSmith Point CapitalChevron Technology Ventures+2 more
Exits · 1
IPOs and acquisitions across the tracked portfolioXometryNASDAQ: XMTR
Portfolio news
latest coverage across their companiesXometry · simplywall.st · Jul 16, 2026

HOVER · ad-hoc-news.de · Jul 15, 2026
Zededa · datacenterdynamics.com · May 7, 2026
Alcatraz AI · biometricupdate.com · Apr 3, 2026
Rasa · rasa-legal.com · Mar 10, 2026
Frequently asked questions
- What stage does Almaz Capital invest at?
- Almaz Capital invests at the Series A, Series B stages.
- What sectors does Almaz Capital focus on?
- Almaz Capital focuses on Deep Tech, Enterprise Software, SaaS.
- Where is Almaz Capital located?
- Almaz Capital is headquartered in Portola Valley, US.
- Does Almaz Capital lead rounds?
- Almaz Capital typically participates in rounds rather than leading them.
Co-investors · 8
Karma Ventures is a European venture capital firm investing in deep-tech software startups at late seed and Series A stages.
AVentures Capital is a venture capital firm rooted in the Ukrainian tech ecosystem, backing IT, internet, media, and enterprise software startups. Note: the page is an unofficial fan site created by portfolio company founders.
Foundry invests in early-stage startups and venture funds across multiple sectors. The firm builds a portfolio-based network connecting portfolio companies with other investors and entrepreneurs.
G2 Venture Partners is a venture capital firm that invests in technology companies at their inflection points to help transform traditional industries toward sustainability.
Keyhorse Capital is a seed and early-stage venture capital firm that invests in high-growth, technology-enabled startups based in or willing to relocate to Kentucky.
Firms observed investing alongside Almaz Capital, from public investor directories. Shared companies are the overlap with Almaz Capital's recorded portfolio.
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