Scythia Ventures

Investment decisions are led by co-founders Alexey Nikolaenko and Alexander Soroka. Nikolaenko's background includes more than a decade in corporate banking across the CIS, while Soroka built Startup.ua, an investment platform that sources early-stage Ukrainian companies. Both are listed as Managing Directors and Co-Founders on the firm's website.

Scythia sources deals through its affiliated Scythia Accelerator and Alexander Soroka's Startup.ua, which runs VC pitching events focused on Ukrainian startups. The accelerator combs angel and pre-seed opportunities, while Startup.ua provides a broader funnel into the CIS early-stage pipeline. The firm also points to Nikolaenko's regional LinkedIn networks of over 25,000 members as an additional origination channel.

Scythia Ventures operates as a private equity firm with a venture capital strategy, not as a family office. It is structured as an asset manager deploying a seed fund across the CIS region, with no disclosed connection to a single family's wealth.

Scythia focuses on direct seed and early-stage investments, not fund commitments. The firm's website describes direct evaluation of companies through its accelerator and pitch-platform pipeline, with term sheets designed to align founders and syndicate partners. No activity as a limited partner in other funds is disclosed.

Scythia targets angel, pre-seed, seed, and early growth stages. The firm's accelerator partnership handles angel and pre-seed opportunities, while the main fund extends into seed and early growth rounds for companies that have demonstrated product-market traction and capital efficiency.

Scythia describes itself as technology sector-agnostic, but its published criteria emphasize strong intellectual property, large addressable markets, and capital-efficient paths to market. This posture implicitly screens out capital-intensive industries such as heavy manufacturing, traditional energy, or real estate development, though no explicit sector exclusions are stated.

Scythia is open to syndication and explicitly notes that its deal terms are designed to allow syndicates to close quickly. The firm aims for win-win frameworks that align incentives among founders, Scythia, and co-investors. The accelerator model and Startup.ua network naturally surface deals that can accommodate co-investment from regional or international venture partners.