Many of you know AltaIR as a VC that invests, inter alia, in startups with roots in the Former Soviet Union (FSU). We have never differentiated between startups that had Russian, Belarusian, or Ukrainian roots and/or founders. We see all of them as part of the global startup community that values human life and creates new technologies to improve the lives of us all.
The unjustifiable Russian invasion of Ukraine took us completely by surprise. We were and continue to be appalled by increasing reports of violence against civilians. At that time we had contractors, partners, and even family members in Ukraine, Russia, and Belarus. Some of our portfolio startups also had their R&D in these countries; so we had to act very fast.
We urgently had to relocate our team members and their families from the war zone, and proceed to assist those who, for different reasons, chose to remain in Ukraine. Then we assisted our contractors and partners who reside in Russia and Belarus to escape to other countries, and many were able to successfully relocate.
Although most of our team members are citizens/residents of Israel and Europe, some of us have FSU roots. This war is a tragedy for our community and perhaps the biggest catastrophe of the 21st century, which has already taken and destroyed the lives of so many people. Our hearts are with those who lost their loved ones and their homes, and who have had to flee to other regions and countries.
While many of us are discouraged and exhausted, it's crucial to act. AltaIR and its team are supporting people who suffer from the war, and we believe it is vital to help volunteer organizations that provide victims with food and other emergency material assistance. There are many organizations doing such work, and if you'd like to help then you can find them via the Internet.
For its part, AltaIR is closely cooperating with the Portugal VC community to assist Tech talent relocating to Portugal. There's great demand among local businesses for qualified and motivated tech professionals with experience in digital products. We support Vis Caeli Impact Lab project to help tech talents and promising startups to relocate to Portugal.
The Ukrainian venture community has launched a program of targeted assistance to people whose professional employment needs help right now. What is important, is the program is focused on those who decided to stay in Ukraine. We've supported UVCA and you can also join
AltaIR doesn't have any sanctioned beneficiaries. We hereby state that no AltaIR partner or affiliated structure currently has any sanctioned persons among their beneficiaries. AltaIR respects U.S. and EU laws, and strictly follows all regulations, restrictions, and sanctions.
Along with the entire global community, we hope that the war will soon end and that the Ukrainian people and all of us will be able to resume our lives in freedom and safety.