Tech Venture Fund Focused on Immigrants Raising Second Fund

Geek Ventures, a tech venture fund based in New York, is currently in the process of raising its second fund, as revealed in a recent SEC filing. Founded by Ihar Mahaniok, an experienced engineer with more than two decades of expertise in code development and machine learning, the fund has already secured $9 million for its second fund, with no specified target amount as of yet. The initial transaction for this fund was recorded on Monday, January 13, according to the filing.

Mahaniok, originally from Belarus, pursued his undergraduate education in computer science before embarking on a career that led to investments in over 150 startup ventures as an angel investor. He has notably supported successful companies like Instacart, PandaDoc, and People.AI. Drawing from his own experiences as an immigrant, Mahaniok recognized the unique challenges faced by immigrant entrepreneurs seeking capital and establishing connections within the American venture capital landscape.

In response to these challenges, Mahaniok established Geek Ventures in 2021 with a vision to level the playing field. Quoting Mahaniok from a previous interview with TechCrunch, “Talent is equally distributed, but opportunity is not.” The core mission of Geek Ventures is to empower and invest in immigrant entrepreneurs with innovative ideas and visionary goals.

Initially launching with $23 million in funding, Geek Ventures joined the ranks of other prominent venture firms such as Unshackled Ventures and One Way Ventures in their efforts to support immigrant entrepreneurs. Their website emphasizes their dedication to bold, innovative immigrant founders from around the globe, aiming to provide them with opportunities for success in the competitive startup landscape.

Geek Ventures focuses its investments in sectors such as Software as a Service (SaaS), hardware development, and deep tech innovations. Notable investments by the fund include companies like Spice AI, an AI developer, and Saturday, a networking platform, according to PitchBook data.

The vision of Geek Ventures extends beyond traditional venture capital investment practices, embracing diversity, innovation, and strategic partnerships with immigrant entrepreneurs at the forefront. Through their commitment to supporting and empowering immigrant founders, Geek Ventures is poised to make a significant impact in the tech industry and beyond.