Alexander Chachava is a serial entrepreneur, investor, and managing partner at LETA Capital, a technology investment firm. He is also the executive chairman of the board of a range of companies from LETA’s portfolio and a member of the world’s largest business leaders’ community, YPO.org.
In 2003 Chachava became the co-founder of LETA with a starting capital of $5,000 and two co-founders, Sergey Piltsov and Anton Sokolov. 5 years later LETA had become one of the 50 largest IT companies in Russia. In 2005 Chachava founded the Russian branch of the international company ESET as it entered the Russian market. ESET’s NOD32 antivirus was one of the leaders in the Russian market for several years, reaching second place and attaining a market share of almost 30%. ESET Russia now exclusively develops ESET’s business in 11 countries, most successfully in Russia, Kazakhstan, and Belarus.
In connection with the acceptance of a new development strategy, Mr. Chachava created the LETA Group holding company in 2008 and assumed the position of president. He acted as an investor in a number of successful IT projects that were then purchased by LETA Group. These included significant shares of Group-IB, ASK, Damask, and Avanpost. Despite the Russian financial crisis, the company’s revenue structure changed significantly over the next three years, and its rate of return more than doubled. Damask, Avanpost, and Group-IB, which were purchased by LETA, became leaders in their segments of the Russia market – front desk automation, IDM, and cybercrime investigation respectively. LETA Group grew to 500 employees and $100 million in annual revenue.
In 2012 LETA Group was restructured in order to increase the investment attractiveness and capitalization of its leading companies. LETA Group was divided into a distributor of ESET Russia, LETA Engineering, Damask, Avanpost, and Group-IB. The restructuring gave them the opportunity to develop more effectively, and all companies continue to thrive and lead in their market segments. Alexander Chachava subsequently sold his share of Group-IB while retaining various shares of ownership in other companies.Same year he founded LETA Capital, a technology-focused venture capital firm with investments covering a wide range of B2B software startups focused on international markets. So far LETA Capital has made more than 20 investments, including such successful companies as Bright Box, Unomy, 365Scores, Double Data, DevAR, QMarkets, and inDriver. LETA Capital made three exits in 2017, including selling Unomy to WeWork and Bright Box to Zurich Insurance Group.