Formula VC is an early-stage venture capital firm based in Yerevan, Armenia, backing Armenian-founded startups globally across AI, SaaS, fintech, healthcare, cybersecurity, and education. The firm typically invests at the pre-seed, seed, and Series A stages, providing strategic guidance and access to a global network to help founders scale into global players.
44% of their portfolio is in AI. Their most common stage is seed (78% of deals). Average disclosed round size is $8.3M (across 9 rounds with reported amounts).
Portfolio
6
Fund Size
$30M
Top Stage
Seed
Last 12 Mo
1
Team
MM
Manana Melkonyan
Principal
GH
Grigor Hovhannisyan
GP
KV
Karen Vardanyan
GP
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
9 investments
Top Co-Investors
Granatus Ventures5 shared
Nava Ventures2 shared
I2BF Global Ventures2 shared
Alchemist Accelerator2 shared
Nyca Partners2 shared
Presto Tech Horizons2 shared
Restive Ventures2 shared
Angelsdeck1 shared
United Ventures1 shared
Hanaco Ventures1 shared
Acrobator1 shared
Last updated: 27 September 2026