Geek Ventures, the venture capital firm famed for its dedication to supporting immigrant tech entrepreneurs, recently disclosed its intent to raise its second investment fund, referenced as Fund II in the latest SEC report.
Established in 2021 by Belarusian immigrant Ihar Mahaniok, Geek Ventures centers its investment strategy on early-stage startups founded by immigrants. The Founder and Managing Partner, Mahaniok has previously articulated the stiff challenges that immigrant tech entrepreneurs face in accessing venture funding. He vocalized his belief in the equal distribution of talent but the unequal provision of opportunities.
In response to these challenges, Mahaniok initiated Geek Ventures and successfully accumulated a $23 million initial fund, positioning the firm along with the likes of Unshackled Ventures and One Way Ventures in supporting immigrant-founded companies.
Primarily, Geek Ventures extends its funding focus on SaaS, hardware, and deep tech organizations. The venture firm’s portfolio lists such promising startups as AI developer Spice AI as well as the popular networking platform, Saturday. To date, Geek Ventures has reportedly conducted over 60 investments.
Although the target amount for Fund II is yet to be disclosed, the venture firm has reportedly raised $9 million already as indicated in the latest SEC report. The campaign’s first transaction was logged on Monday, January 13th. Mahaniok, maintaining a low profile, refrained from issuing any comments regarding this development.
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