Immigrant-focused venture capital firm Geek Ventures is back with increased funding amounts.

      Immigrant founders have been instrumental in the U.S. technology scene for a long time, but their access to early-stage capital often relies on local networks, introductions to customers, and closeness to established investors. This gap has allowed a select number of venture firms to emerge, focused on immigrant, diaspora, and cross-border founders, a sector that has expanded in recent years.

      Geek Ventures falls into this category. The firm, which invests across the U.S., Europe, and Israel, is currently raising its second fund and is preparing to make larger investments at the pre-seed and seed stages. Its first fund closed at $23 million in 2023, while Fund II aims to raise between $25 million and $30 million, with potential to reach $40 million, and has already obtained about $20 million in commitments.

      Geek Ventures was established by Ihar Mahaniok, who now leads alongside partner Alexander Zemlyak, both of whom have backgrounds in the former Soviet Union. Prior to founding the firm, Mahaniok made over 60 angel investments, while Zemlyak joined in 2023 after gaining experience in Israel, London, and Eastern Europe, including four years at LETA Capital.

      Fund I was developed on the belief that immigrant founders, especially those with technical expertise, are often overlooked by investors despite possessing the skills and cross-market experience that early-stage investors seek. Over time, this belief evolved to target not only immigrant founders but also those who have traversed markets, networks, and technical challenges, who are creating companies where early access to U.S. capital and connections can make a significant impact.

      The size of the fund is not the only change; with Fund II, Geek Ventures intends to adopt a leading investor role, writing larger checks, acquiring more significant ownership stakes, and entering funding rounds earlier.

      From instinct to process

      The initial fund leveraged Mahaniok’s network and his previous angel investments. With two decades of engineering experience at Google, Meta, and WeWork, his strategy focused on companies outside the typical venture capital networks.

      Fund I closed at $23 million and supported over 35 companies. With initial investments ranging from $100,000 to $300,000, Geek Ventures could enter rounds early but often lacked the capital to lead them, take larger ownership stakes, or obtain board seats.

      When Zemlyak came on board in 2023, Geek Ventures began transitioning from a founder-driven network to a more structured venture firm. He brought experience from Israel, London, and Eastern Europe, including a role as Principal and Head of Israel at LETA Capital, where he focused on sourcing and early-stage investments.

      At Geek Ventures, Zemlyak played a key role in formalizing the investment process. The firm now has a system to review hundreds of inbound companies monthly, a clearer strategy for making larger investments, and well-defined criteria for deciding when to lead or co-lead a round instead of simply following. Zemlyak became Partner in May 2025.

      “Talent may be equally distributed globally,” Zemlyak states, “but access to capital and networks is not. Founders who have traversed that gap tend to display a level of adaptability that is rare and difficult to teach.”

      Writing larger checks earlier

      Fund II provides Geek Ventures with greater flexibility in initial investments. The firm plans to make first checks ranging from $500,000 to $800,000, reserving up to $2 million for follow-on investments. With larger checks, the firm can lead or co-lead rounds, secure board seats, and increase its stakes in the companies it supports.

      Backers include AppLovin founder Adam Foroughi and the founders of PandaDoc, along with other operators and investors linked to immigrant-led tech firms. The team operates from New York, Austin, Kyiv, and Tel Aviv.

      Writing larger checks does not signify a retreat from early-stage risk; rather, it allows for better-resourced deal participation. “At pre-seed, investing is not truly about data,” Zemlyak explains. “There is never enough data available. Instead, you evaluate how a team copes with uncertainty: whether they quickly test assumptions, adapt their strategies when faced with failure, and transition from uncertainty to actionable insights.”

      Insights from the new portfolio

      The early investments of Fund II are concentrated on AI infrastructure, vertical AI applications, robotics, deep tech, and data-intensive software. Companies like Cytronic and Spacer Robotics operate in hard tech, while Spike aggregates health data from over 600 IoT devices, and Caremaze closed a $3 million pre-seed round in March 2025 with Geek Ventures participating alongside early investors from Palantir.

      A common theme across the portfolio is immigrant founders who are developing technically challenging companies in markets where access to U.S. capital, early customers, and the right networks can significantly alter their business trajectories.

      The firm is also getting ready to launch an accelerator for founders who are on the verge but not