Geek Ventures Launches Second Fund for Immigrant Founders

Geek Ventures Launches Fundraising for Second Fund

A recent filing with the Securities and Exchange Commission (SEC) reveals that Geek Ventures is currently in the process of raising a second fund, designated as Fund II.

Focus on Immigrant Founders

Established in 2021 by Ihar Mahaniok, the firm specializes in providing early-stage investment to founders who are immigrants.

Mahaniok, himself an immigrant to the United States from Belarus, previously discussed the challenges immigrants face within the venture capital landscape with TechCrunch.

He articulated the belief that while talent is universally present, access to opportunity is not.

Building on Initial Success

Following this conviction, he initiated Geek Ventures and successfully secured $23 million for its inaugural fund.

This positioned the firm alongside other venture capital entities specifically targeting immigrant entrepreneurs, such as Unshackled Ventures and One Way Ventures.

Investment Areas

Geek Ventures concentrates its investments in the sectors of Software as a Service (SaaS), hardware technologies, and deep tech innovations.

According to PitchBook data, the firm’s portfolio includes companies like Spice AI, an artificial intelligence developer, and Saturday, a networking platform.

To date, Geek Ventures has reportedly executed over 60 investment deals.

Fund II Details

While a specific target amount for Fund II has not been disclosed, the SEC filing indicates that $9 million has been raised thus far.

The initial sale for the fund was officially recorded on Monday, January 13.

Ihar Mahaniok chose not to provide any further commentary on the matter.