Getting Russia to Focus On Education And Assisting Startups

Endemic Capital’s Managing Partner Alexei Beltyukov was a medical doctor when the Soviet Union fell, nevertheless, a doctor’s salary could not support a family. Forced to find other work, Beltyukov tried selling on the street, working as a teacher and finally trying his hand at pharmaceutical sales.

He was living in a seedy apartment with his wife and the cockroaches when Beltyukov saw an advertisement for Insead. Accepted, Beltyukov found the courses very helpful and after graduating with an MBA, he went on to help establish the Russian Alumni Scholarship of INSEAD along with his wife, who also attended INSEAD.

After INSEAD, Alexei Beltyukov took what he learned and delved into his new job at a private equity firm, where he learned how to restructure companies so they became profitable. Later, Beltyukov went off on his own, becoming an entrepreneur with Mechanicus, an auto repair company and New Gas Technologies, a company in the petroleum gas industry.

In 2015, Beltyukov was appointed Chief Operating Officer of Solvy, an educational website that concentrates on making a math education more accessible. Teachers can create quizzes and automated homework, in addition to discovering where students need extra attention.

According to, raising funds became Alexei Beltyukov’s greatest challenge when he was starting his companies, which led him to develop Endemic Capital in 2013 so that he could help others in the same position. It is Beltyukov’s greatest achievement to date as the early-stage funding company has built up an interesting portfolio of companies where they are a minority shareholder. Funded companies range from an online learning center to a global chess boxing website.

Startups receive up to $100,000, with assistance as needed, although, Endemic Capital does not get involved with managing startups. In addition, Alexei Beltyukov serves as the vice president of the Skolkovo Foundation, which fosters startups in the IT, biomedicine, energy and space sectors.