Granatus Ventures, a venture fund operating in Armenia, is at the final stage of negotiations with Western investors to draw extra funds for 4-5 new startups, Mr Manuk Hergnyan, the fund’s co-fouder and managing partner, told Armenian News - NEWS.am.

The fund is reviewing new applications, among which are projects on energy saving, Internet of things, and blockchain online transactions, which underlie Bitcoin.

Currently the fund’s portfolio includes 8 companies (seven software developers and one local network equipment designer).

“We will channel new funding to our active portfolio as well. Almost all of them have completed the first stage of development. Some of them negotiate with investors on their own, again with our assistance,” Hergnyan told.

Granatus Ventures was incorporated in 2013. The fund was co-founded by Manuk Hergnyan (Yerevan), Yervand Sargsyan (London) and Pierre Hennes (Singapore).