NVO Capital

The partnership is led by Sergey Fedyushchenko, Vladislav Zdorenko, and Artem Smirnov. Fedyushchenko is a UC Berkeley SkyDeck alumnus, Zdorenko is a mentor at 500 Startups, and Smirnov mentors at Alchemist Accelerator. The team also includes a former CFO of a $1.5 billion VC and the co-founder of Wargaming.net. No single decision-maker is publicly identified; the group appears to operate as a distributed partnership.

NVO sources deals by embedding itself within top Silicon Valley accelerator programs. The firm states it has established relationships with Y Combinator, 500 Global, Berkeley SkyDeck, Alchemist, and Techstars. This allows NVO to track startups during the acceleration process and make investment decisions before Demo Day, giving it a timing advantage over later-stage syndicates.

NVO Capital invests at the pre-seed and seed stages. Its accelerator-tracking model gives it access to companies still in the acceleration process, often before a formal priced round. The firm's portfolio page confirms the majority of its companies are Y Combinator or Techstars alumni, placing NVO squarely in the earliest institutional check category.

NVO Capital operates exclusively through direct early-stage startup investments. Its website does not list any fund-of-funds activity or LP commitments to other venture firms. The 100+ personal investments cited point toward a concentrated, high-volume angel-to-pre-seed deployment style rather than a hybrid LP/direct strategy.

NVO's stated focus is AI solutions that replace human labor, which tilts the portfolio heavily toward enterprise AI, LLM infrastructure, and autonomous voice and video agents. Hardware-heavy deep tech and capital-intensive sectors like semiconductors or advanced manufacturing are absent from its disclosed portfolio. The firm also does not list climate, industrial, or biotech manufacturing investments, suggesting a narrow AI software mandate.

NVO Capital is a Luxembourg-based S.à r.l. and presents itself as an early-stage venture capital firm, not a single-fund structure. It has not publicly filed a fund vehicle or disclosed a flagship fund size. The website describes the operation as 'experienced tech entrepreneur partners' making collective investment decisions rather than a traditional GP/LP fund model.

NVO has not disclosed its source of capital. The website mentions no external limited partners, family office backing, or institutional anchor. The phrase 'experienced tech entrepreneur partners' and biographies of successful startup founders suggest the capital may be sourced from the partners' personal liquidity, though this is not confirmed.