A New $23M Fund Launches Dedicated To Backing Immigrant Founders

Geek Ventures announced its first immigrant-focused fund, Geek Ventures Fund I, LP, to support pre-seed and seed-stage technology startups.

Geek Ventures

Ihar Mahaniok, an immigrant engineering leader with over 20 years of experience building code and machine-learning models for startups, founded Greek Ventures in 2021.

He saw immigrant entrepreneurs’ difficulties when raising capital and making connections within the U.S. venture capital ecosystem.

They aim to invest in bold, innovative, and brilliant immigrant entrepreneurs worldwide and believe the challenges immigrants face when coming to a new environment nurture resilience and determination. 

“More than half of America’s startups valued at $1 billion or more were founded by immigrants, and although talent may be distributed evenly, opportunity is not,” said Mahaniok.

“Immigrant entrepreneurs looking to enter a new market like the U.S. struggle to develop the right connections to grow, especially amid a market slowdown.”

Geek Ventures Fund I, LP

The new fund of $23 million curates immigrant-focused networking events to help founders build the right venture capital connections, grow their professional networks and break into the U.S. market.

The firm’s investors include entrepreneurs, CEOs and institutions such as Adam Foroughi, CEO and founder of Applovin and Mikita Mikado and Sergey Barysiuk, founders of PandaDoc.

“The fund represents more than Ihar’s desire to support immigrant founders with capital. It represents the power of human connection and how, with the right guidance and perseverance, dreams can become a reality regardless of where you’re from,” said Mikado.

The firm targets 60 total investments for Fund I, with assets ranging from $50,000 to $1 million.