R136 Ventures

R136 Ventures Research Overview R136 Ventures (formerly Fort Ross Ventures) is a Silicon Valley-based multi-stage venture capital firm founded in 2015 by Victor Orlovski and Yacov Nachmanovich. Headquartered in Woodside, CA (2925 Woodside Rd, Woodside, CA 94062), the firm also maintains offices in Tel Aviv, Dubai, and Central Asia. R136 Ventures manages over $400M in assets across three funds and has built a portfolio of 40+ companies with 10+ exits and 6 unicorns. Investment Thesis R136 Ventures identifies 'identifiable inflection points' through a proprietary Discovery Engine and backs founders 'who see opportunities others miss.' The firm employs a deeply data-driven approach, analyzing 250+ data points before investing through its proprietary R136 Research Framework, Sourcing Framework, and Validation Framework. The firm focuses on companies driving the next wave of AI and fintech transformation, particularly in workflow automation, data orchestration, and vertical-specific AI applications that solve genuine enterprise problems. Stage Focus The firm invests across two primary stages: Mid-stage (Late Series A – Series B): $2M–$10M per deal Growth stage (Series C+): $10M–$20M per deal Victor Orlovski's investment sweet spot is approximately $10M. The firm occasionally participates in earlier rounds for exceptional opportunities. Check Size Typical investment range: $2M–$20M Mid-stage: $2M–$10M Growth-stage: $10M–$20M Sweet spot: ~$10M Sector Focus R136 Ventures focuses on B2B enterprise software and fintech, with particular emphasis on: Enterprise SaaS and B2B software Financial technology and payments AI/ML enablers and infrastructure Cybersecurity Workflow automation and data analytics InsurTech Mobility and logistics technology HR tech, marketing tech, and edtech B2B e-commerce and marketplaces Lead Tendency R136 Ventures participates in both leading and following positions, though their larger growth-stage investments suggest they often co-invest rather than solely lead. The firm has led investments in several portfolio companies at the mid-stage level. Recent Activity R136 Ventures closed its third fund at $400M+ in November 2025, attracting commitments from 50+ global investors including a leading financial institution from the UAE and portfolio company founders. The fund targets growth-stage B2B software and fintech companies in the US-Israel corridor. Key recent milestones: eToro IPO (May 2025): Raised $310M at $4.2B valuation, shares jumped 30% on day one to $67, pushing market cap to $5.4B Airwallex investment (May 2025): Latest known investment in the global payments platform Deci AI acquired by NVIDIA: Major exit in the AI infrastructure space Granulate acquired by Intel: Enterprise automation exit Rookout acquired by Dynatrace: DevOps observability exit Portfolio Highlights R136 Ventures has invested in 40+ companies since 2015 with a current active portfolio of approximately 20 companies. Notable portfolio companies include: IPOs: Uber (NYSE: UBER) – ride-hailing and logistics eToro (NASDAQ: ETOR) – social trading platform Tufin – security policy management Major Acquisitions: Dynamic Yield – acquired by McDonald's ($327M) Deci AI – acquired by NVIDIA Granulate – acquired by Intel Rookout – acquired by Dynatrace CoverWallet – acquired by Aon Fetch Robotics – autonomous warehouse robotics Mobeewave – mobile NFC payments Illusive Networks – cybersecurity Kryon Systems – RPA platform Active Portfolio: Airwallex – global payments platform Blockchain.com – blockchain infrastructure Insurify – insurance comparison marketplace Kiavi (formerly LendingHome) – real estate lending Roofstock – rental property marketplace ThetaRay – anti-money laundering Rescale – cloud simulation platform Esperanto Technologies – RISC-V AI chips Standard Cognition – autonomous checkout Teampay – spend management inspace – workplace AI Team Victor Orlovski, Founder & Managing Partner: Software engineer by background with deep fintech expertise. Built a pioneering mobile banking platform (2001–2005), led development of the world's first financial super app (2013) which reached 45 million daily users by 2015. Drives the firm's investment thesis and technical due diligence. Yacov Nachmanovich, Founder & Managing Partner: 20+ years in private equity, asset management, and financial sector project development. Brings deep institutional investment experience. Tom Dennedy, Partner & COO: Previously at Artiman Ventures and Telesoft Partners. Focuses on sustainable growth strategies for portfolio companies. Ratan Manehani, Partner: Focuses on mid-to-late stage technology investments. Background in international family office investments and strategic initiatives. Denis Efremov, Principal: Supports deal sourcing and portfolio management. Pavel Prata, Investor Relations: Manages LP relationships and fundraising. Decision Process The firm employs a structured partnership-based decision process using proprietary frameworks: Discovery Engine for identifying inflection points R136 Research Framework for deep due diligence Sourcing Framework for systematic deal flow Validation Framework covering founders, GTM, financials, and technology The firm analyzes 250+ data points before making investment decisions and leverages tools like PitchBook, CB Insights, Crunchbase, and proprietary AI tools (AIx2.AI). Geographic Focus Core: US and Israel (US-Israel corridor) Secondary: Europe, Latin America, Middle East (particularly UAE) The firm leverages Israel's concentrated venture ecosystem and strong connections to American acquirers. Founder Preferences R136 Ventures emphasizes the importance of people and leadership in their investment decisions. They look for founders who: See opportunities others miss Demonstrate strong technical capabilities Have experience building and scaling enterprise products Operate in sectors undergoing AI-driven transformation Fund History Fund I: Initial fund (details undisclosed) Fund II: Growth fund Fund III: $400M+ (closed November 2025) – targeting growth-stage B2B software and fintech in US-Israel corridor