Startups with Armenian founders attracted $200 million in investments from U.S. venture capital funds in 2023 - BANA network director

YEREVAN, February 5. /ARKA/. Startups with Armenian founders attracted $200 million in investments from U.S. venture funds in 2023, Director of BANA Angels Business Sona Veziryan told Armenpress.  

According to her, last year 4 Armenian venture funds - Big Story VC, Granatus Ventures, Triple S Ventures and  Formula VC, and 3 groups of angel investors invested $6.5 million in 30 Armenian startups.  

She said that despite the crisis year, positive processes were observed in Armenia's investment and startup sector in 2023.

"For Armenia's IT ecosystem, 2023 was a year of challenges. The investment world is in crisis, but we hope for its end in 2024," Veziryan said.  

According to her, there are some problems with the quality of startups, while investors around the world have become more cautious and investment standards have become stricter. --0--

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15:15 02/05/2024