Fundraising Fox

Almaz Capital

Venture capital

Portola Valley · Series A–Series B

Also known as ALMAZ CAPITAL MANAGEMENT LTD.

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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.

Invests inDeep TechEnterprise SoftwareSaaSGlobalPortola Valley

Source: firm website, verified Aug 3, 2026.

Stage
Series A–Series B
HQ
Portola Valley, US
Leads rounds
Follows
Instruments
Equity
Founded
2008
Private fund assets
$65.6M
VC funds
2
Tracked investments
32

What they invest in

from 23 of 32 portfolio companies

AI & Machine Learning ×11SaaS ×10Enterprise Software ×8Hardware ×5Data & Infrastructure ×4PropTech ×3Advanced Manufacturing ×2Cloud Computing ×2

HQs:United States×7Germany×2Estonia×1Latvia×1Sweden×1

Investments · 32 tracked

founders shown can be your intro path
Xometryxometry.cominNASDAQ: XMTR

Xometry provides an instant quoting platform for precision manufacturing components, serving startups through global enterprises from prototype to high-volume production.

Advanced ManufacturingB2B MarketplacesEnterprise SoftwareGaithersburg, US

Randolph Altschuler(Executive Officer, Director, Promoter)George Hornig(Director)John Deutch(Director)Laurence Zuriff(Executive Officer, Director, Promoter)

3Dlook3dlook.mein𝕏

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 LearningHealthtechMedical Devices

Acronisacronis.comin𝕏
Acumaticaacumatica.comin𝕏

Acumatica provides all-in-one cloud ERP software with industry-specific solutions covering business workflows, dashboards, reporting, and mobile access.

Cloud ComputingEnterprise SoftwareSaaS

Alawaralawar.comin𝕏

Alawar develops and publishes video games for PC and consoles, with titles including the Beholder series, Necrosmith, and Wall World.

Gaming

Alcatraz AIalcatraz.ai

Alcatraz develops facial recognition technology for access control systems.

AI & Machine LearningCybersecurityEnterprise SoftwareHardwareMountain View, US

Scott Macomber(Director)Raymond Stata(Director)Vince Gaydarzhiev(Executive Officer, Director)Tina DAgostin(Executive Officer, Director)

Aretihealtharetihealth.com

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 HealthHealthtech

Certivitycertivity.ioin
Cinarracinarra.com

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

Dmarketdmarket.com𝕏

A marketplace for buying, selling, and trading in-game skins and cosmetic items from games like CS2, Team Fortress 2, and Rust.

GamingMarketplacesSanta Monica, US

VOLODYMYR PANCHENKO(Executive Officer, Director)TAMARA SLANOVA(Director)

Finalpricefinalprice.com
Gooddatagooddata.comin𝕏

GoodData is an analytics platform that provides a governed semantic layer to power AI-enabled, agentic, and embedded decision-making, delivering dashboards, conversational insights, and agents inside products.

AI & Machine LearningData & InfrastructureSaaS

GridGaingridgain.comin𝕏

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

HOVERhover.toin

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

Kevin Reilley(Executive Officer, Director)Ross Hangebrauck(Director)Adam J. Altman(Executive Officer, Director)Kevin Compton(Director)Stewart Alsop(Director)

Minutminut.comin𝕏

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)Marcus LjungbladFredrik AhlbergMartin LööfHampus Jakobsson(Director)Tommi Uhari(Director)

Mobalyticsmobalytics.gg
Moonshot Aimoonshot-ai.comin

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-commerceSaaS

Sebastian Gebhart(Chief Revenue Officer)

Neptuneneptune.ai
Nomagicnomagic.aiin𝕏

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

Petcubepetcube.comin𝕏

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

Portsideportside.co

Portside offers a suite of cloud-based software applications for business aviation, providing flight departments with data integration and analytics across their operations.

Cloud ComputingEnterprise SoftwareSaaS

Rasarasa.comin𝕏

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)

Refurbedrefurbed.dein𝕏

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

Sonarworkssonarworks.com

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)

specter automationspecter-automation.comin

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

StarWind Softwarestarwindsoftware.com
Usoundusound.comin𝕏

USound develops MEMS speakers and audio modules that deliver wideband sound and add ultrasonic AI biosensing capabilities, enabling sensor-free in-ear heart rate, HRV, and health monitoring as well as gesture sensing and indoor localization.

Deep TechHardwareSemiconductors

Virtuozzovirtuozzo.com
Workerbaseworkerbase.comin

Workerbase is a no-code platform for manufacturing shopfloors where operations teams describe processes in plain language and AI assembles tested modular components into worker apps for tasks like quality inspection, machine alarms, and order management.

Advanced ManufacturingAI & Machine LearningSaaS

Xoloxolo.ioin𝕏

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)

Yazenyazen.com
Zededazededa.comin𝕏

San Jose, US

Said Ouissal(Executive Officer, Director)Kevin DeNuccio(Director)Lisa Edwards(Director)Bilal Zuberi(Director)Steve Mullaney(Director)Juan Muldoon(Director)

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

Karma Ventures is a European venture capital firm that backs deep-tech software startups at late seed and Series A stages, contributing capital and operational experience to founders with early traction and global ambition.

$1M – $5.4M
Cabra VC

Cabra VC is a venture investor backing high-growth technology companies with a follow-on strategy across multiple stages and global markets.

Both backed · 2
PetcubeMobalytics
AVentures Capital

AVentures Capital is a Ukrainian venture capital firm investing in technology companies, primarily Ukrainian-founded startups spanning IT, software, and internet sectors. This particular site is an unofficial fan page built by the firm's portfolio founders as a tribute.

Both backed · 2
PetcubeStarWind Software
Foundry Group

Foundry Group is a venture capital firm that describes its approach as network-driven investing. It maintains offices in New York and Boulder, Colorado.

G2 Venture Partners

G2 Venture Partners is a venture capital firm that invests in technology companies at their inflection points to help transform traditional industries toward sustainability.

$15M – $25M
Keyhorse Capital

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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