Igor Ryabenkiy didn’t start his journey in finance or startups.
In fact, his early career saw him programming underwater robots, exploring how to mine manganese nodules from the ocean floor long before AI became a buzzword.
By the late 1980s, he pivoted to entrepreneurship.
He helped grow one of Europe’s largest IT companies and eventually became president of Unit Group in Vienna.
There, he structured the company as a collection of independent businesses—essentially startups in disguise—each with its own leadership and stakes in the game.
The success of these ventures sparked his passion for investing in other founders.
The Birth of AltaIR Capital
Ryabenkiy launched AltaIR Capital in 2005 with a clear mission: support founders in ways he wished he had been supported himself.
What started as a handful of angel investments has grown into a global venture firm managing over 400 startups with more than $600 million across multiple funds.
AltaIR focuses on early-stage technology companies in the U.S., Europe, and Israel, spanning B2B SaaS, FinTech, productivity tools, Future of Work solutions, and digital health.
Typical investments range from $500K to $1M, and the firm stays close to founders, often from seed stage, helping build conviction fast.
Supporting Founders Beyond Capital
For Ryabenkiy, venture capital isn’t just about writing checks—it’s about building.
“I’ve been on the other side,” he says, “chasing product-market fit, burning resources, and missing timing.
That shapes how I work with founders today.”
Through AltaLab, AltaIR’s accelerator, early-stage teams get hands-on guidance: validating ideas, building MVPs, testing models, and securing initial traction.
The most promising teams are considered for funding.
The firm also fosters a global peer network where founders share tactics, talent, and even customers.
“Sometimes, that network is more valuable than any capital we provide,” Ryabenkiy notes.
What Makes a Founder Stand Out
Ryabenkiy is drawn to focused founders—those who know exactly what they’re building, why it matters, and who it’s for.
He wrote Unicorn Focus to outline the traits he looks for: clarity, decisiveness, adaptability, and the ability to cut distractions.
Red flags include chasing multiple ideas at once, poor communication, or prioritizing a quick exit over solving real problems.
“I can usually spot focus and ambition within minutes,” he says.
Startups That Made Him Proud
Ryabenkiy highlights a few portfolio successes:
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Miro: Started as RealtimeBoard, it revolutionized online collaboration and now serves over 100 million users.
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OpenWeb: Tackled chaotic online discussions, embedding structured conversation directly into publisher pages.
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Turing: Initially connecting engineers to U.S. companies, it pivoted to support AI labs during the LLM surge.
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Babylist: Built around real parental needs, it became a trusted ecosystem for new and expecting families.
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Squire: Focused exclusively on barbershops, delivering a specialized end-to-end platform that dominates its niche.
Each exemplifies focus, resilience, and long-term conviction—traits Ryabenkiy values most.
Sectors to Watch in the Next Five Years
Looking ahead, Ryabenkiy bets on three areas:
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AI Infrastructure – Tools that help real businesses implement AI effectively, streamline processes, and handle compliance.
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Vertical SaaS – Industry-specific software solving deep operational inefficiencies, like iPNOTE in intellectual property management.
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Digital Health – Proactive medical solutions using AI to detect risks, personalize care, and reduce administrative burdens while improving outcomes.
“These sectors combine meaningful impact with strong business fundamentals,” he says, highlighting his dual focus on profit and purpose.
Building the Future With Founders
Igor Ryabenkiy’s journey—from programming robots to guiding startups globally—illustrates a consistent theme: hands-on support, careful guidance, and an unwavering focus on building durable, meaningful businesses.
For him, venture capital is as much about shaping founders as funding them.
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