# Rubylight

Rubylight is an Asset Manager based in Riga, Latvia.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Riga, Latvia
- **Region:** Europe
- **Address:** Riga, Latvia
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** rubylight.com
- **LinkedIn:** https://lv.linkedin.com/company/rubylight

## Regulatory record

- **Reports private funds:** No

## About

Rugylight is a venture fund that invests in internet and mobile startups. It has made 18 investments, including a Seed VC in Megamod on June 19, 2024. Rugylight has one portfolio exit, Tise, which exited on September 22, 2025.

## Sectors

- Consumer Internet
- Mobile
- Social Media
- Media & Entertainment

## People

- Vitaly Rubstein — Partner, Strategy and Vision
- Aija Perta — Partner, Operations and Finance
- Dmitry Burbo — Partner, Product Development
- Igor Shlahov — Partner, Platform Architecture
- Alexey Chirkov — Partner, Web and Mobile Architecture

## Questions

### Who runs investment decisions at Rubylight?

Investment decisions rest with the partnership, led by Vitaly Rubstein and Aija Perta. Rubylight's public materials state explicitly that the firm does not operate an investment committee, a structure intended to allow rapid commitments without bureaucratic delay. The partners draw authority from having previously built and sold the Forticom Group's portfolio of consumer internet assets.

### How does Rubylight source its deal flow?

Deal flow is sourced through the founders' deep network in European consumer internet, reinforced by their membership in the Latvian and Estonian venture capital associations and Aija Perta's board seat at the Estonian Business Angels Network (EstBAN). The firm invites inbound approaches from founders internationally, provided the startups already show organic user traction and fit within Rubylight's technology focus areas.

### Does Rubylight provide capital only, or does it contribute operational support?

Rubylight's value proposition is hands-on support. The firm embeds its own product architects, developers, and testers inside portfolio companies to address scaling challenges directly. This operational model differentiates it from most early-stage capital providers and is a direct carryover from the partners' tenure building Forticom and Odnoklassniki.

### Which sectors does Rubylight explicitly avoid?

The firm states that it invests only in businesses the partners can understand and to which they can add direct value. This self-imposed constraint means it avoids sectors outside its core experience — primarily deep enterprise software, biotech, or hardware — and instead concentrates on consumer-oriented internet and mobile platforms in communication, content sharing, and social media.

### Where does Rubylight's capital come from?

Rubylight was funded with the personal proceeds Vitaly Rubstein and Aija Perta realized from the sale of their earlier ventures, including social network Odnoklassniki and holding company Forticom Group, to Mail.ru Group. The firm operates as a principal-led investment vehicle rather than raising capital from external limited partners.

## Related profiles

- [Rubix Ventures](https://altss.com/profile/rubix-ventures)
- [Ruby Ventures](https://altss.com/profile/ruby-ventures)

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

Canonical page: https://altss.com/profile/rubylight

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