Geek Ventures Launches Second Fund to Empower Immigrant Founders and Fuel Innovation
Geek Ventures is making headlines with its recent move to raise Fund II, as indicated by a filing with the SEC. Founded in 2021 by Ihar Mahaniok, this venture capital firm is dedicated to supporting early-stage immigrant founders, addressing a significant gap in the investment landscape.
About Geek Ventures
Founded by Ihar Mahaniok, an immigrant from Belarus, Geek Ventures aims to reshape the venture ecosystem for immigrant entrepreneurs. Mahaniok has previously shared insights about the challenges faced by immigrants in accessing funding and resources within the tech industry. In his words, “Talent is equally distributed, but opportunity is not.”
Investment Focus and Strategy
Geek Ventures has successfully launched its inaugural fund, raising $23 million to support startups in various sectors. The firm emphasizes investments in:
- Software as a Service (SaaS)
- Hardware technology
- Deep tech innovations
Some notable investments include:
According to PitchBook, Geek Ventures has made over 60 investments to date, contributing significantly to the growth of innovative startups led by immigrant founders.
Fund II Details
The firm is currently in the process of raising Fund II, which does not have a specified target amount but has already secured $9 million thus far. The first sale related to this fund was registered on Monday, January 13.
Conclusion
As Geek Ventures continues to champion immigrant entrepreneurs, the firm’s efforts underscore the importance of creating equitable opportunities in the venture capital landscape
