Anatoliy Paliy is the founder and Managing Partner of GEM Capital. See contact routes.
Anatoliy Paliy is the founder and Managing Partner of GEM Capital, a Cyprus-based venture capital firm he established in 2017 after working for over a decade as an executive at Gazprom and later as a PwC veteran. His firm specializes in game and entertainment investments, targeting pre-seed, seed, and Series A stages primarily in the MENA region and Eastern Europe, with additional focus on nanomaterials and real estate. Typical check sizes range from $0.5 million to $2 million for early rounds, while larger CEE gaming initiatives have reached up to $4.5 million per deal. Notable portfolio companies include Mundfish (developer of Atomic Heart), Sad Cat Studios, Weappy, and VEA Games, with the firm investing a combined $5 million across three studios in one round. Paliy’s distinctive point of view centers on unleashing Cyprus and Eastern Europe’s startup ecosystems, though the fund has been described by investigators as a mechanism to legalize Russian capital in the EU under the guise of IT venture investing.
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