One Way Ventures

One Way Ventures Research Investment Thesis and Philosophy One Way Ventures is a Boston and San Francisco-based seed-stage venture capital firm founded in 2017 with a mission to back exceptional immigrant-founded companies. The firm was created by Founding Partner Semyon Dukach, who after three years as Director of Techstars Boston, observed a critical market inefficiency: immigrant-led companies consistently outperform, yet their potential is underpriced in venture capital markets. The core thesis is grounded in data and observation. Immigrants make up only 13% of the US population yet found or co-found 55% of America's billion-dollar startups. The firm believes that immigration itself selects for entrepreneurial mindset and builds resilience that prepares founders for the parallel hardships of building startups. One Way Ventures invests exclusively in pre-seed and seed stage companies where at least one founder is an immigrant. The firm's ethos is borderless and global. Their core beliefs center on: (1) technology must be a force for good; (2) talent is widely distributed, but opportunities are not; and (3) people should be given the opportunity to succeed regardless of birth location. Fund Structure and Current Status One Way Ventures is raising Fund III with a target of $60 million. As of January 2026, the fund has closed $31.35 million in its second close and expects to reach its full $60M target. The firm has already made two investments from Fund III in 2025, including an agentic AI company and other early-stage ventures. The firm's total assets under management exceed $125 million (combining Funds I and II). Fund II was successfully deployed, with the firm making seed-stage investments throughout 2024-2025. Investment Stages and Check Sizes One Way Ventures focuses on two primary investment stages: Pre-Seed : Checks ranging from $250K-$500K for teams with early traction and prototypes Seed : Checks ranging from $1M-$3M for companies with product-market validation The firm typically reserves 50% of the fund for follow-on investments in existing portfolio companies. They are growth-stage agnostic and may participate in Series A or beyond for strong portfolio performers. Lead Tendency and Investment Style One Way Ventures leads or co-leads the vast majority of their seed investments. The firm takes a hands-on approach, providing strategic guidance, network introductions, and operational support beyond capital. Semyon Dukach, named top VC in New England by Boston Globe in 2025, is deeply involved in portfolio company success. Portfolio Composition and Recent Activity One Way Ventures has invested in 70+ companies across diverse sectors. The portfolio includes exits (Brex, Preply, Classtag, Legalpad, Reserve, Tone, Airfox), IPOs (Momentus), and 70+ active companies across AI/ML, SaaS, Fintech, Deep Tech, and Consumer categories. Recent portfolio highlights and 2024-2025 wins include: Tabs : AI-powered invoicing platform that raised $55M Series B (2025) Provision : AI-powered PDF reader that landed $7M+ funding (2025) Deduction : AI agent for personal taxes (Pre-Seed, 2025) Locaal AI : AI agents for insurance (Pre-Seed, 2025) Nim Video : AI video production platform (Seed, 2024) Tive : Supply chain visibility platform that secured $40M Series C KarmaCheck : Instant background checks that raised $45M Series B Buddy.ai : AI English tutor raising $11M Seed Helm AI : Autonomous driving platform in Growth stage Chipper Cash : Consumer fintech super app for Africa Team One Way Ventures has built a strong team of operators and investors with deep domain expertise and founder networks. Leadership: Semyon Dukach, Founding Partner : Soviet-born founder and operator with multiple startup exits. Director of Techstars Boston for 3 years before founding One Way. Named top VC in New England 2025. Lex Zhao, Managing Partner : Brings operational and investment expertise Eugene Malobrodsky, Managing Partner : Sector expertise and deal flow leadership Extended Team: Rhie Lim, Partner, Global Strategy : Focuses on international expansion and partnerships Mimi Yagoub, Head of Communications : Leads investor relations and firm brand Leo Arango, Venture Partner : Deal sourcing and portfolio support Masha Levin, Venture Partner : Operational support for portfolio companies Nadia Asoyan, Venture Partner : Sector expertise Philippe Kalaf, Venture Partner : Deal evaluation and support Sector Focus and Preferences One Way is sector-agnostic but has deep expertise in and exposure to: AI/ML : Growing focus on agentic AI, machine learning applications, and AI infrastructure SaaS : Vertical SaaS, workflow automation, B2B software Fintech : Cross-border payments, spend management, wealth management, insurance Deep Tech : Robotics, autonomous systems, space technology, aerospace Consumer : Lifestyle, marketplaces, consumer services The firm screens for immigrant founders at the top of the funnel and focuses on market size and founder quality rather than sector preferences. Geographic Focus One Way Ventures has offices in Boston (headquarters) and San Francisco. Primary investment focus is the United States with selective international investments, particularly in immigrant founder networks globally. The firm actively supports founder communities in Boston, SF, and emerging tech hubs. Decision Process and Timeline Investment decisions are made by partnership with Semyon Dukach and Managing Partners Lex Zhao and Eugene Malobrodsky. The firm aims for rapid decision-making with most term sheets issued within 2-3 weeks of initial meetings. Full fund due diligence takes 4-6 weeks. Warm introductions are strongly preferred. The firm has a simple SAFE-based investment process to enable speed. Founder Preferences One Way explicitly invests only in companies with at least one immigrant founder . Beyond this core requirement, the firm looks for exceptional technical or product founders, founders with prior startup or scale-up experience, deep understanding of customer problems, global perspective and network, and willingness to operate at speed.