Altair Capital
{{Short description|American venture capital company}}
{{Use mdy dates|date=May 2023}}
{{Infobox company
| name = AltaIR Capital
| logo = Altair_Capital_logo.jpg
| logo_size =
| type = Limited partnership
| industry = Venture capital / private equity
| foundation =
| founder = Igor Ryabenkiy
| location_city = San Francisco
| location_country = United States
| area_served = North America, Europe, Israel
| products =
| key_people =
| services = venture capital
| revenue =
| AUM =
| num_employees =
| homepage = {{URL|www.altair.vc}}
}}
AltaIR Capital, is an American venture capital company that was founded by Igor Ryabenkiy, a seasoned serial angel investor.{{cite web|author=|url=https://councils.forbes.com/profile/Igor-Ryabenkiy-Founder-Managing-Partner-AltaIR-Capital/d24937a1-3d8c-4e86-8519-2eb572a0e0f5|title=Igor Ryabenkiy|language=en|work=Forbes|date=|access-date=2023-05-16}}{{cite web|author=|url=https://pitchbook.com/profiles/investor/10560-70#overview|title=AltaIR Capital Investor Profile: Portfolio & Exits|language=en|website=pitchbook.com|publisher=Pitchbook|date=|access-date=2023-05-16}}{{cite web|author=|url=https://en.globes.co.il/en/article-altair-capital-raises-30m-for-israel-investment-1001029910|title=AltaIR Capital raises $30m for Israel investment – Globes|language=en|website=globes.co.il|publisher=Globes|date=April 20, 2015|access-date=2023-05-16}}{{cite web|author=|url=https://www.bloomberg.com/profile/company/0861694D:IT|title=AltaIR Capital|language=en|website=bloomberg.com|publisher=Bloomberg|date=|access-date=2023-05-16}}
{{As of |2021}}, the company had assets totaling $600M under management and had invested in 300+ tech startups, working in Productivity Tools, Fintech, InsureTech, Future of Work, Digital health.{{cite web|author=|url=https://www.prnewswire.com/news-releases/a-female-led-waste-management-platform-from-california-has-raised-8m-to-scale-an-innovative-approach-to-the-refuse-problems-of-us-businesses-301642092.html|title=A female-led waste management platform from California has raised $8M to scale an innovative approach to the refuse problems of U.S. businesses|language=en|website=prnewswire.com|publisher=Prnewswire|date=October 5, 2022|access-date=2023-05-16}}{{cite web|author=|url=https://sharpsheets.io/blog/israel-top-vcs-venture-capital-firms/|title=Israel's Top 14 Venture Capital Firms [2023]|language=en|website=sharpsheets.io|publisher=Sharpsheets|date=March 14, 2022|access-date=2023-05-17}}{{cite web|author=|url=https://www.wastetodaymagazine.com/news/trash-warrior-funding-tech-enabled-waste-management/|title=Trash Warrior plans for growth with $8M investment|language=en|website=wastetodaymagazine.com|publisher=Waste Today Magazine|date=October 20, 2022|access-date=2023-05-17}}{{cite web|author=|url=https://www.unleash.ai/hr-technology/welcome-to-vc-voices-altairs-ryabenkiy-on-ai-being-customer-centric/|title=VC Voices Altair’s Ryabenkiy on AI & being customer centric|language=en|website=unleash.ai|publisher=Unleash|date=August 24, 2023|access-date=2023-10-02}}
History
Igor Ryabenkiy founded AltaIR Capital in 2005.
In 2015, Ryabenkiy created AltaClub, a business angel club. AltaClub's portfolio was $120 million in 2020 and has grown to $650 million in 2021.{{cite web|author=|url=https://incrussia.ru/understand/alta-club/|title=СЕО AltaClub: "Самые успешные экзиты те, которые еще не случились" – Inc. Russia|language=ru|website=incrussia.ru|publisher=Incrussia|date=August 24, 2023|access-date=2023-10-02}}
Funds
AltaIR Capital Fund I began in 2012 with $20M in capital backing. The fund invested in the pre-seed and seed stages of SaaS, FinTech, HealthTech, InsureTech, and D2C products and marketplaces.{{cite web|author=|url=https://www.ewdn.com/2019/12/09/altair-capital-targets-200-million-to-launch-third-fund/|title=Altair Capital targets $200 million to launch third fund|language=en|website=ewdn.com|publisher=Ewdn|date=December 9, 2019|access-date=2023-05-16}}{{cite web|author=|url=https://www.intellinews.com/altair-capital-targets-200mn-to-launch-third-fund-targeting-russian-speaking-countries-173748/|title=Altair Capital targets $200mn to launch third fund targeting Russian-speaking countries|language=en|website=intellinews.com|publisher=IntelliNews|date=December 19, 2019|access-date=2023-05-16}}
In 2014 AltaIR Capital Fund II was founded with $100 million to support startups in their pre-seed and Series A rounds.{{cite web|author=Мовчан, Андрей|url=https://www.forbes.ru/finansy-i-investicii/387089-bolshie-dengi-seychas-syuda-ne-hodyat-igor-ryabenkiy-o-molodyh|title="Большие деньги сейчас сюда не ходят": Игорь Рябенький о молодых бизнесменах и будущих проблемах|language=ru|website=forbes.ru|date=November 11, 2019|access-date=2023-05-16}}
Launched in 2019 with $200M in capital, AltaIR Capital Fund III, continues focusing on Productivity Tools, FinTech, InsureTech, Future of Work, Digital Health.
In March 2021 AltaIR Capital launched the AltaIR ABO for 300 million. The entity works as an opportunity investor for late stage projects.{{cite web|author=Скобелев,Владислав|url=https://www.rbc.ru/rbcfreenews/60548f409a7947ec0584f7fe|title=Инвестор Carprice и Profi.ru запустил фонд на $300 млн для ИТ-компаний|language=ru|website=rbc.ru|publisher=РБК|date=March 22, 2021|access-date=2023-05-16}}{{cite web|author=|url=https://incrussia.ru/news/igor-ryabenkij-fond/|title=Игорь Рябенький запускает фонд на $300 млн для инвестиций в стартапы на поздней стадии|language=ru|website=incrussia.ru|publisher=Incrussia|date=March 22, 2021|access-date=2023-05-16}}{{cite web|author=|url=https://startupjedi.vc/content/altair-abo-300m-and-late-stage-startups-igor-ryabenkiys-fifth-anniversary-fund-altair|title=AltaIR ABO, $300M and late stage startups: Igor Ryabenkiy's fifth, anniversary, fund AltaIR Capital|language=en|website=startupjedi.vc|publisher=Startupjedi|date=|access-date=2023-05-16}}
In 2022 AltaIR Capital sponsored the Support Ukrainian Startups NOW program launched by the FREE Ukraine Foundation and the Ukrainian Venture Capital and Private Equity Association (UVCA).{{cite web|author=|url=https://uadn.net/2022/03/30/support-ukrainian-startups-now-a-call-to-friends-of-ukraine-across-the-world/|title=How tech investors and entrepreneurs are rescuing startup teams hit by the war|language=en|website=uadn.net|publisher=UADN|date=March 30, 2022|access-date=2023-05-16}}
Investments and exits
AltaIR Capital has invested in over 350 startups in early and growing stages.{{cite web|author=|url=https://pitchbook.com/profiles/investor/10560-70|title=AltaIR Capital Investor Profile: Portfolio & Exits|language=en|website=pitchbook.com|publisher=Pitchbook|date=|access-date=2023-05-16}}{{cite web|author=|url=https://tracxn.com/d/venture-capital/altair-capital/__0fYvvlE_KToQe9y3hhmsoJSd1gRp9NDXsOeSSAVce9w/portfolio|title=Altair Capital – Investments, Portfolio & Exits|language=en|website=tracxn.com|publisher=Tracxn|date=|access-date=2023-05-16}}{{cite web|author=|url=https://altair.vc/plans_2022|title=AltaIR Capital's plans for 2022|language=en|website=altair.vc|publisher=Altair|date=|access-date=2023-05-16}}{{cite web|author=|url=https://www.starterstory.com/israel-vc-firms|title=14 Best VC Firms In Israel [2023] – Starter Story|language=en|website=starterstory.com|publisher=Starter Story|date=December 26, 2021|access-date=2023-05-16}}{{cite web|author=|url=https://unicorn-nest.com/funds/altair-capital/
|title=Altair Capital|language=en|website=unicorn-nest.com|publisher=Unicorn Nest|date=December 26, 2021|access-date=2023-05-16}}
Among them are unicorns in the early stages:
- Miro (online platform for visual collaboration){{cite web|author=|url=https://perm.rbc.ru/perm/freenews/5be56f0f9a7947bfc81136f2|title=Accel и AltaIR Capital инвестировали в пермский стартап $25 млн|language=ru|website=perm.rbc.ru|publisher=РБК|date=November 9, 2018|access-date=2023-05-16}}{{cite web|author=|url=https://financetp.fa.ru/jour/issue/viewFile/68/54?embed=1#page=90|title=The Venture Capital Market in a Pandemic: Realities of Time and Future Prospects|language=en|website= |publisher=FINANCE: THEORY AND PRACTICE|date=December 26, 2021|access-date=2023-05-16}}
- Deel (privately held payroll and compliance provider){{cite web|author=|url=
https://forbes.ua/ru/innovations/startap-deel-zaluchiv-425-mln-pri-otsintsi-55-mlrd-vin-dopomagae-naymati-lyudey-z-usogo-svitu-yak-kompaniya-povyazana-z-ukrainoyu-19102021-2613|title=Стартап Deel привлек $425 млн при оценке $5,5 млрд – он помогает нанимать людей со всего мира. Как компания связана с Украиной|language=ru|website= forbes.ua|date=October 19, 2021|access-date=2023-05-16}}{{cite web|author=|url=https://finance.yahoo.com/news/professional-networking-braces-tectonic-shift-134500180.html|title=Professional Networking Braces for a Tectonic Shift in 2023. Meet the Disruptors.|language=en|website=finance.yahoo.com|publisher=Finance Yahoo|date=December 28, 2022|access-date=2023-05-16}}{{cite web|author=|url=https://elmon.cat/moneconomia/empreses/startups/igor-ryabenkiy-europa-tenim-toleracia-baixa-fracas-32785/|title=Igor Ryabenkiy: “A Europa tenim una tolerància molt baixa al fracàs”|language=en|website=elmon.cat|publisher=Mon Economia|date=July 29, 2023|access-date=2023-10-02}}
- PandaDoc (software company that provides SaaS software){{cite web|author=|url=https://www.venturecapitaljournal.com/altair-capital-collects-20-mln-for-startup-fund/|title=AltaIR Capital collects $20 mln for startup fund|language=en|website=venturecapitaljournal.com|publisher=Venture Capital Journal|date=October 26, 2015|access-date=2023-05-16}}
- OpenWeb (social engagement platform){{cite web|author=|url=https://www.prnewswire.com/news-releases/openweb-raises-150-million-in-series-e-to-improve-online-conversations-support-cookieless-web-301420060.html|title=OpenWeb Raises $150 Million In Series E To Improve Online Conversations, Support Cookieless Web|language=en|website=prnewswire.com|publisher=PR Newswire|date=November 9, 2021|access-date=2023-05-16}}{{cite web|author=|url=https://www.basetemplates.com/startups/top-10-startups-in-new-york-city|title=Top 10 Startups in New York City|language=en|website=basetemplates.com|publisher=Basetemplates|date=|access-date=2023-05-16}}{{cite web|author=|url=https://www.builtinnyc.com/job/sales/vp-business-development/179856
|title=VP, Business Development at OpenWeb|language=en|website=builtinnyc.com|publisher=Built in NYC|date=|access-date=2022-11-22}}
- Turing (service for evaluating the competence of IT professionals, recruiting them, and grouping them into remote teams){{cite web|author=|url=https://techcrunch.com/2021/12/20/turing-books-87m-at-a-1-1b-valuation-to-help-source-hire-and-manage-engineers-remotely/|title=Turing books $87M at a $1.1B valuation to help source, hire and manage engineers remotely|language=en|website=techcrunch.com|publisher=Techcrunch|date=December 20, 2021|access-date=2023-05-16}}
Other invested startups:
- Verbit AI (provider of cloud and AI-based natural language processing platform to develop speech recognition applications){{cite web|author=|url=https://pitchbook.com/profiles/company/183369-34#signals|title=Verbit Company Profile: Valuation & Investors|language=en|website=pitchbook.com|publisher=Pitchbook|date=|access-date=2023-05-16}}
- Sunbit (is a «buy now pay later» technology of local service providers and retailers){{cite web|author=|url=https://www.calcalistech.com/ctech/articles/0,7340,L-3908090,00.html|title=Fintech company Sunbit raises $130 million at $1.1 billion valuation|language=|website=calcalistech.com|publisher=Calcalistech|date=May 20, 2021|access-date=2023-05-16}}
- Jeeves (fintech company that focuses on expense management and payments){{cite web|author=|url=https://pitchbook.com/news/articles/israel-most-active-vcs-tech-startups|title=The 10 most active Israeli VCs|language=en|website=pitchbook.com|publisher=Pitchbook|date=May 6, 2022|access-date=2023-05-16}}
- Babylist (marketplace and commerce destination for baby){{cite web|author=|url=https://www.finsmes.com/2013/07/babylist-raises-620k-seed-funding.html|title=BabyList Raises $620K in Seed Funding|language=en|website=finsmes.com|publisher=Finsmes|date=July 1, 2013|access-date=2023-05-16}}
- Lilibank (a startup building banking products){{cite web|author=|url=https://www.calcalistech.com/ctech/articles/0,7340,L-3907492,00.html|title=Fintech startup Lili raises $55 million series B|language=|website=calcalistech.com|publisher=Calcalistech|date=May 11, 2021|access-date=2023-05-16}}
- EquityBee (an online platform for helping startup employees exercise their stock options and receive pre-IPO shares){{cite news|author=|url=https://www.bloomberg.com/press-releases/2021-09-29/equitybee-raises-additional-55-million-from-repeat-investor-group-11|title=EquityBee Raises Additional $55 Million From Repeat Investor Group 11|language=en|newspaper=Bloomberg|date=September 29, 2021|access-date=2023-05-16}}
- Squire (a small business management platform serving the men's grooming segment){{cite web|author=|url=https://www.finsmes.com/2019/06/squire-secures-8m-in-series-a-funding.html|title=Squire Secures $8M in Series A Funding|language=en|website=finsmes.com|publisher=Finsmes|date=June 25, 2019|access-date=2023-05-16}}
Altair Capital has completed multiple successful returns. These include:{{cite web|author=|url=https://altair.vc/portfolio|title=Portfolio|language=en|website=altair.vc|publisher=Altair|date=|access-date=2023-05-16}}
- FlexEngage (a service that helps retailers personalize the post-purchase period){{cite web|author=|url=https://www.marketscreener.com/quote/stock/SYNCHRONY-FINANCIAL-17093673/news/FlexEngage-Inc-announced-that-it-has-received-6-million-in-funding-from-a-group-of-investors-34041834/|title=FlexEngage, Inc. announced that it has received $6 million in funding from a group of investors|language=en|website=marketscreener.com|publisher=Marketscreener|date=December 18, 2019|access-date=2023-05-16}}
- Gurushots (photography game){{cite web|author=|url=https://www.calcalistech.com/ctech/articles/0,7340,L-3759040,00.html|title=Gamified Photo-Sharing Startup GuruShots Raises $5 Million – CTech|language=|website=calcalistech.com|publisher=Calcalistech|date=March 26, 2019|access-date=2023-05-16}}{{cite web|author=|url=https://www.cbinsights.com/investor/altairvc|title=AltaIR Capital Portfolio Investments, AltaIR Capital Funds, AltaIR Capital Exits|language=en|website=cbinsights.com|publisher=Cbinsights|date=|access-date=2023-05-16}}
- Klear (social intelligence platform){{cite web|author=|url=https://www.venturecapitaljournal.com/altair-capital-collects-20-mln-for-startup-fund/|title=AltaIR Capital collects $20 mln for startup fund|language=en|website=venturecapitaljournal.com|publisher=Venture Capital journal|date=October 26, 2015|access-date=2023-05-16}}
- This is L (social enterprise and public-benefit corporation that makes organic personal care products){{cite web|author=|url=https://vc.ru/finance/93661-v-ssha-startap-mozhet-ne-dumat-o-mire-v-rossii-eto-silnyy-risk-igor-ryabenkiy-iz-altair-capital-o-rabote-investora|title="В США стартап может не думать о мире, в России это сильный риск": Игорь Рябенький из AltaIR Capital о работе инвестора — Финансы на vc.ru|language=|website=vc.ru|publisher=VC|date=November 25, 2019|access-date=2023-05-16}}
- Unomy (sales & marketing intelligence platform){{cite web|author=|url=https://techcrunch.com/2017/08/10/wework-unomy/|title=WeWork acquires Israeli startup Unomy to boost its enterprise sales efforts|language=en|website=techcrunch.com|publisher=Techcrunch|date=August 11, 2017|access-date=2023-05-16}}
- Hometalk (online DIY publisher){{cite web|author=|url=https://techcrunch.com/2017/08/10/wework-unomy/|title=Hometalk raises $15M to grow its DIY community|language=en|website=techcrunch.com|publisher=Techcrunch|date=April 3, 2019|access-date=2023-05-16}}
Awards and recognition
In 2016, CB Insight recognized Altair Capital as the most active venture capital investor in Delaware.{{cite web|author=|url=https://tech.co/news/active-vc-firms-state-2016-06|title=The Most Active VC Firms in Each State|language=en|website=tech.co|publisher=Tech|date=June 1, 2016|access-date=2023-05-16}}
In 2019, and 2022 PitchBook Data ranked Altair Capital No. 2 among the most active VCs in the Israeli market.