Venture funds and investors from Armenia: who every startup founder should know

Armenia’s startup ecosystem is developing rapidly: angel investors and venture funds are emerging that not only provide capital but also help technology teams build growth strategies, enter international markets, and develop sustainable business models. Below is an overview of key players and funds every founder should know.

Venture funds

Granatus Ventures
One of the largest venture capital funds in Armenia, founded in 2013. It primarily invests in technology startups at the Seed and Series A stages, including IT, FinTech, HealthTech, and SaaS projects. The fund is actively involved in mentorship, supporting companies with scaling, international expansion, and strategic planning.

Armenia Capital Ventures
An early-stage fund focused on technology and social startups. ACV works with projects at the Pre-Seed and Seed stages, providing funding, strategic and product advisory support, and helping teams build strong core teams and attract international investment. The fund is actively involved in educational and networking initiatives, promoting Armenia’s startup ecosystem abroad.

Armenia Fund
A socially oriented fund that supports startups with significant social and environmental impact. It focuses on projects in sustainable development, agrotechnology, education, and healthcare. The fund provides early-stage capital, along with strategic advisory support, partnership development, and assistance with international market entry. Impact Armenia Fund collaborates with global organizations to attract investment and expertise for social ventures.

SmartGateVC
SmartGateVC builds a portfolio of startups at the intersection of science and entrepreneurship, investing in companies across healthcare, biotechnology, SaaS, cybersecurity, infrastructure, and AI. Since its founding in 2017, the firm has invested in more than 40 startups, including SuperAnnotate, Deep Origin, Third Law Molecular, Britive, and ActiveLoop. Many of these companies have gone on to raise follow-on funding from NVIDIA, Dell, Y Combinator, and other leading investors.

Formula VC
A venture capital fund that supports talented and innovative teams at the early stages of startup development. The fund provides access to its extensive network and resources, fostering company growth and helping startups become global leaders in their respective industries. It also actively collaborates with global investors, venture funds, and successful startup founders to create opportunities for joint growth and scalable expansion.

Investors

Igor Khalatian
An entrepreneur and venture investor with over 20 years of experience in IT and high technology. Founder and CEO of Ideal Match Inc., which develops innovative AI products including IrisDating.com and BestLOOK.ai. Earlier in his career, Igor founded LiveLOOK, which was later acquired by Oracle, where he subsequently served as Vice President of Development. He also co-founded STAN, an angel investor community uniting members of the Armenian diaspora to support technology startups worldwide.

Ashot Arzumanyan
Venture investor and partner at SmartGateVC. He co-founded the firm in 2017 and invests in startups at the intersection of science and entrepreneurship, with a focus on Physical AI, neurotechnology, and cybersecurity. He has led investments in more than 40 startups emerging from leading global research centers, many of which have secured funding from NVIDIA, Dell, and other major investors.

Амбарцум Кахкетсян
Venture investor and co-founder of SmartGateVC, investing in early-stage startups in the United States and Armenia. He has launched innovation hubs in Yerevan and Los Angeles, invested in more than 25 startups, and actively shares his expertise with entrepreneurs through webinars and educational programs.

Alla Pavlovna
A business development and strategic partnerships expert with extensive experience in finance, banking, e-commerce, and the fashion industry. Founder of the clothing brand Z.G.EST, advisor to CQ Impact Fund, and business advisor at C-QUADRAT Ampega Asset Management Armenia, where she focuses on strategy, marketing, product development, and market expansion. She actively supports sustainable entrepreneurship, social impact initiatives, and the international promotion of Armenian fashion.

Avag Simonyan
Co-founder and Managing Partner of Triple S Ventures, an early-stage venture fund investing in technology startups across AI, HealthTech, sustainable technologies, and enterprise software. He also serves as Co-Chair of STAN LA, supporting early-stage startups, and is a co-founder of Seaside Startup Summit, a global platform for entrepreneurs and investors. In addition, he is a board member of Startup Armenia, contributing to the development of Armenia’s startup ecosystem.

Davide Baghdasaryan
Armenian entrepreneur and engineer, co-founder and CEO of Krisp, a Voice AI startup. He previously worked at Twilio as Head of Product Security. He is also an investor and co-founder of other ventures, including DeepSat and BigStory VC. Under his leadership, Krisp develops AI technologies for calls and online meetings, serving more than 3,000 businesses and partnering with major video conferencing platforms.

Mikael Grigoryan
An experienced businessman and investor based in Yerevan with over 30 years of experience across logistics, finance, IT, telecommunications, manufacturing, and retail. He has held executive roles in major companies such as ASBC Armenia / iSpace and HayPost. He has also supported startup development, provided strategic and investment advisory services, and actively contributes to digital transformation and technology initiatives in Armenia.

Manuk Hergnyan
Co-founder and Managing Partner of Granatus Ventures. An investor and mentor to early- and growth-stage technology startups, he works closely with teams on growth strategy, fundraising, and corporate governance development. Manuk is also actively involved in building acceleration programs and educational initiatives, promoting Armenian startups on the international stage.