Alexander Chachava, reached by phone late Friday, said he had been working to ensure that the employees at his portfolio companies are not in physical danger and that their products' IT infrastructure is secured, he told The Information.
“The whole Russian-speaking community is trying to help each other,” said Chachava, who recently raised over $90 million for his third VC fund, backed primarily by Eastern European entrepreneurs, including Ivan Mishanin and Ken Belotsky, founders of software business Bright Box. Leta Capital has not raised capital from Russian state-backed entities, Chachava said.
Russian investors also face growing concerns about their future fundraising prospects. While none of Leta Capital’s limited partners have pulled out, Chachava realizes it’s a possibility. “I don’t know yet what we will do to recover the trust and friendship,” he said.