Almaz Capital – Russian Ties of Owner Exposed 

Almaz Capital is a global VC fund under the ownership of Alexander Galitsky. The company is facing threats of sanctions from the US as the leadership has strong ties with multiple sanctioned oligarchs of Russia. 

They have an office in Silicon Valley, US. It is located at 3274 Alpine Road, Portola Valley, CA 94028. 

Similarly, Almaz Capital has an office in Germany, Kurfürstendamm 70, 10709 Berlin, Germany. 

The company invests in early state, capital efficient technology firms. Almaz Capital focuses on tech companies in AI/ML, b2b software, Blockchain applications, cybersecurity, IoT and similar sectors. 

When the US announced sanctions against multiple Russian entities, the business partners of Almaz Capital began asking questions. 

almaz capital website

They wanted to be sure that their investment was safe and they weren’t exposed to any risk of sanctions. 

So, they turned their eyes towards the leader of Almaz Capital – Alexander Galitsky. 

However, Alexander claimed that the only reason his stakeholders were worried was the old name of the fund. Previously, the name of Almaz Capital was Almaz Capital Russia Fund I. 

Having the word “Russia ” in its name might have caused people to worry aout the company, claimed Alexander Galitsky. 

However, that’s not the truth. 

The reason why many of the stakeholders of Almaz Capital were worried about the company and its prospects of getting sanctioned is the professional history and ties of Alexander himself. 

Almaz Capital Owner is a Part of a Major Russian Government Program: The CRPT

The Center for Development of Advaned Technologies (CRPT) is an entity which falls directly under the supervision of the Russian government. 

alexander galitsky

(Source)

Furthermore, The CRPT develops technological products to help the Russian government. 

The Almaz Capital owner, Alexander Galitsky, is one of the key persons behind this operation. 

This enterprise handles one of the largest tech projects in Russia. Currently, it operates the “Honest Sign” labeling system which helps the Russian government combat smuggling of products. 

It has become a vital part of current Russian policy. 

Apart from Alexander Galitsky, the Almaz Capital owner, other notable people behind CRPT include Alisher Usmanov and the firm Rostech. 

However, many critics view the CRPT as a way for the oligarchs to make extra money as the project has constantly failed to serve its purpose. 

It’s worth noting that the CRPT is planning to invest $3 billion in the coming years to implement its “Honest Sign” across several industries.

Currently, its labeling system only works in the dairy industry. 

Other industries have already complained that they don’t need the CRPT’s labeling system in their sector as it would increase costs. 

Furthermore, even though the CRPT’s labeling system is already in the dairy industry, there have been multiple reports of uncertified products making their way to retail chains. 

So, it raises suspicion on where the billions of CRPT are going. It also raises suspicions on the Almaz Capital owner, Alexander Galitsky. 

The Almaz Capital Owner’s History of Working with Multiple Russian Oligarchs

Apart from The CRPT, Alexander Galitsky has a long history of working together with well-known Russian Oligarchs. 

These include the names of Petr Aven and Mikhail Fridman. 

Together with those two, the Almaz Capital owner was a board member of the Alfa-Bank. 

It’s worth noting that all three of the board members resigned from the board of Alfa-Bank after it received sanctions. 

While private funds usually keep themselves extremely secretive, the current war has caused many countries to change this notion. 

They want to know if any investors have ties with Russia. That’s why various VCs and funds have begun separating themselves from shady investors. 

However, Alexander Galitsky has been able to avoid much scrutiny. 

Why that is, I don’t know. But I know one thing, the Almaz Capital owner has several ties with the Russian oligarchs and it’s just a matter of time before people find out. 

Claims of Alexander Galitsky:

In my opinion, a big reason why the leader of Almaz Capital was able to deceive everyone is because of his various claims.

He doesn’t mention anywhere that he is a part of the Russian government’s CRPT program. 

I only found out about this through several news articles where his name appears alongside other oligarchs. 

almaz capital news

When you check out his bio on the website of Almaz Capital, you read about his past of running ELVIS+ and working at the Soviet Space Agency. 

almaz capital sanctions

However, there is no mention of his involvement in the various advisory boards of the Russian government. 

I believe Alexander Galitsky is trying his best to deceive other investors as well as government officials by hiding his ties with the Russian oligarchs. 

This information should be available to the relevant parties so they can make the necessary decisions. 

Conclusion

Currently, Almaz Capital has around $400 million worth of investments. They have invested in startups in Europe, US as well as Russia. 

I found it extremely suspicious how Alexander Galitsky tried to hide his professional past and connections with the Russian government. 

Hopefully, this information would reach the relevant parties in time. 

Apart from that, you should be wary of deceptive businesses and scammers. They can be detrimental to your financial as well as mental well being. 

For example, Iyer Vaidyanathan Narayan is an ex-banker who defrauded his clients for years to steal $50 million from them. 

Similarly, you have the case of Larry Benedict, a self-proclaimed finance guru running promotional ads with misleading claims to get more clients.

You should stay away from such businesses and individuals.

3.1Expert Score
Beware

Almaz Capital is a global VC fund and has made a ton of investments in Russian startups. Hwoever, the firm’s owner has several ties with Russian oligarchs and the Russian government. Hence, beware.

Trust
2.6
Experience
3.8
Professionalism
3.3
Ethics
2.6
Pros
  • None
Cons
  • Deceptive
  • Unreliable
  • Shady leadership
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