Venture Capital as a key factor in the development of Armenia's financial system - CEO of Cube Invest

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10.03.2025, 14:48

Venture capital is an important innovation for Armenia's reality, said Mikael Margaryan, CEO and Chairman of the Board of Directors of Cube Invest, in an exclusive interview with the ARKA news agency.

Venture Capital as a key factor in the development of Armenia's financial system - CEO of Cube Invest

YEREVAN, March 10. /ARKA/. Venture capital is an important innovation for Armenia's reality, said Mikael Margaryan, CEO and Chairman of the Board of Directors of Cube Invest, in an exclusive interview with the ARKA news agency.

"I am pleased that there are people investing in such funds. This area has great growth potential, and it has been steadily growing worldwide in recent years. Since Armenia's startup ecosystem is still in its early stages of development, I believe new venture funds will emerge. This is a very important component of the overall financial system," he emphasized.

At the end of February this year, one of Armenia's leading venture funds, FORMULA VC, announced the creation of its second fund worth $30 million. The plan is for all the funds to be invested in 40 Armenian tech startups. Thanks to the investments made by the first venture fund, Formula VC I, totaling $7 million, 22 Armenian companies have already achieved success, particularly in the fields of cybersecurity, AI, quantum technologies, and other areas.

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