Immigrant founders have long played a significant role in U.S. technology, but access to early-stage capital often still depends on local networks, customer introductions and proximity to established investors. That gap has created room for a small number of venture firms focused on immigrant, diaspora and cross-border founders, a category that has grown in recent years.
Geek Ventures is part of that category. The firm, which invests across the U.S., Europe and Israel, is raising its second fund and preparing to write larger checks at the pre-seed and seed stages. Its first fund closed at $23 million in 2023. Fund II is targeting $25 million to $30 million, with room to reach $40 million, and has already secured around $20 million in commitments.
Geek Ventures was founded by Ihar Mahaniok, who now leads it alongside partner Alexander Zemlyak, both with roots in the former Soviet Union. Mahaniok made more than 60 angel investments before launching the firm, while Zemlyak joined in 2023 after working across Israel, London and Eastern Europe, including four years at LETA Capital.
Fund I was built around a conviction that immigrant founders, particularly technical ones, are often overlooked by investors despite having the technical backgrounds and cross-market experience that early-stage investors often look for. Over time, that thesis became more specific. The firm was not just looking for immigrant founders, but for founders who had already crossed markets, networks and technical barriers, and were building companies where early access to U.S. capital and networks can make a material difference.
