YEREVAN, February 28. /ARKA/. Armenian Formula VC fund announced the launch of Formula VC II fund on Thursday.
“The new fund will invest $30 million in 40 tech startups founded by Armenians around the world. We invest in startups that work for the global market and are not limited to the Armenian market,” Formula VC co-founder Grigor Hovhannisyan said.
He told Arka that Formula VC fund ($7 mln) was fully invested in 22 startups. One is the successful startup EasyDMARC Inc, specializing in email security, which raised $20 million in a Series A funding round organized by New York-based Radian Capital.
About Formula VC
Formula VC is a venture capital fund that invests in early stage startups. The goal of the fund is to support companies with Armenian roots, help them expand and go international.
Formula VC started its activities in 2021. Thanks to the Formula VC I investments, 22 companies of Armenian origin have already achieved global success, including in cybersecurity, artificial intelligence, quantum technologies and other areas.-0-
Formula VC II fund has brought together investors and advisors from more than 20 countries, creating an international platform for Armenian startups, regardless of their location. -0-
