Almaz Capital Co-Founder, Peter N. Loukianoff, Sells Majority of His Interest in Pioneering Venture Capital Firm

SAN FRANCISCO, Sept. 4, 2012 /PRNewswire/ -- Almaz Capital Partners today announced that its managing partner and co-founder, Peter Loukianoff, has sold his managing interest in the firm and retained a passive minority interest and is leaving to pursue new opportunities. Mr. Loukianoff and Alexander Galitsky established Almaz Capital in 2007.  Mr. Loukianoff will continue to participate in the investment committee and serve on the board of Almaz portfolio company, nScaled, Inc. Almaz Capital Partners, whose investors include Cisco and the European Bank for Reconstruction and Development (EBRD), was the first technology-oriented venture capital firm to focus on Russia, and through multiple successful exits, has established itself as one of the leading investment firms on the Russian market.

"Our success has allowed me the flexibility to consider new projects," said Mr. Loukianoff. "Now that we are approaching the end of our investment period in the current fund and have successfully begun returning capital to our investors, it's a good time to evaluate fresh ideas. Starting a new venture capital firm focused on Russia at the time we did was both very challenging and stimulating. It's a testament to our team that Almaz was one of the few investment firms to attract capital during the global financial crisis. With a lot of hard work and dedication, we delivered strong returns and a promising portfolio to our investors. I am very proud of our accomplishments and wish Almaz continued success."

"Peter was instrumental in generating our early returns and in developing our bridge model with Silicon Valley," said Charlie Ryan, chairman of UFG Asset Management and a strategic partner with Almaz. "We wish him well with his new endeavors."

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SOURCE Almaz Capital Partners