# Elbrus Capital

Elbrus Capital is a Private Equity based in Moscow, Russia.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Moscow, Russia
- **Region:** Europe
- **Address:** Moscow, Russia
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** www.elbcp.com

## Regulatory record

- **Reports private funds:** No

## About

Elbrus Capital invests in Russian and CIS companies seeking growth opportunities. The firm manages two funds with over $600 million in assets. Key investors include large international institutional investors.

## Sectors

- Enterprise Software
- FinTech
- Media & Entertainment
- Healthcare Services
- Real Estate

## People

- Dmitri Krukov — Co-Founder and Managing Partner
- Alexander Savin — Co-Founder and Senior Partner
- Rob Denny — Partner

## Questions

### Who runs investment decisions at Elbrus Capital?

Co-Founder and Managing Partner Dmitri Krukov leads investment decisions alongside Senior Partner Alexander Savin. Partner Rob Denny and the broader Moscow-based investment team execute sourcing and portfolio oversight. Krukov and Savin retain final authority on capital deployment, reflecting the firm's founder-led governance.

### What is Elbrus Capital's most significant known portfolio company?

ivi, Russia's largest streaming video platform, is Elbrus Capital's highest-profile asset. The firm held a controlling stake and navigated the company through domestic subscription growth, content licensing, and a 2022 minority-shareholder liquidation dispute that tested its governance model. Ivi remains a benchmark investment for the firm's control-oriented media strategy.

## Related profiles

- [Elbow Beach Capital](https://altss.com/profile/elbow-beach-capital)
- [El Cap Holdings](https://altss.com/profile/el-cap-holdings)

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Last updated: 2026-06-03T20:00:00.000Z

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