Ultimate Capital – we invest in, partner with and scale technology driven companies to become the leading firms of the new economy
Like in the game of Ultimate Frisbee, we are centered around teamwork and hard work to achieving the highest standards
Ultimate Statistics
Portfolio revenue
Portfolio earnings growth
Investments made
+22%
Year-on-year growth in 2022
>$153MLN
$233MLN
in the end of 2022
Equity and debt investments
Hello!
How we
have performed
have performed
How we have performed
Ultimate
Statistics
Statistics
Portfolio revenue
233
In 2022
$
MLN
Portfolio earnings growth
+22%
Year-on-year growth in 2022
Investments made
153
Equity and debt investments
MLN
>
Ultimate Capital
- A long-term activist investor in the new economy
- Investment philosophy focused on identifying future leaders in high-growth markets and engaging management teams with deep operational expertise to build world class operations
- Centered around teamwork while challenging the business to achieve more
- Established access to financing and strong relations with leading international and local banks
- Adherence to international standards of corporate governance and disclosure practices
We only participate when we have full conviction of a company’s potential and a clear path to realizing value
Our principle
About us
Ultimate Founding Partners
Our team
- Established track records of building and growing successful businesses
- Extensive experience of operational and financial outperformance
- Strong deal structuring and execution expertise, including with publicly listed counterpart
Managing partner
Managing partner
Andrey Kondratyuk
Evgeny Zaltsman
Andrey has 20 years of experience in finance
& investments. As an investment banker at JP Morgan, Deutsche Bank and VTB Capital, he has participated in many major M&A and IPO deals for foreign companies.
& investments. As an investment banker at JP Morgan, Deutsche Bank and VTB Capital, he has participated in many major M&A and IPO deals for foreign companies.
Evgeny has 20 years of investment, structuring, business development and turn-around experience, including management positions at major LSE-listed companies.
Our Investment Principles
Principles
Not buying the market, help build businesses
Assist a quality business that can grow to market leading position
Use disruptive technology
to think beyond what’s possible
to think beyond what’s possible
Assemble the right team and quickly implement technology that will allow the business to lead long-term
Challenge businesses
to reach higher standards
to reach higher standards
Deal with the Board and management to implement Ultimate Capital competencies with immediate effect and implement outperformance attitude and momentum.
Help with finding the right talent
Help with finding the right talent
Not creating new markets,
but disrupting the existing ones
but disrupting the existing ones
Creative problem-solving solutions which current management and shareholders lack and implement structured change if needed.
Refining existing products to create their ultimate versions
Refining existing products to create their ultimate versions
Assist to build a path to financial health
Support businesses financially, restructure balance sheet, build financial discipline and strong long-term free cash flow generation
Focus on technology
With the advent of Industry 4.0 and digitalization, every facet of society will be transformed, and old business models will no longer be viable. As such, we see the need to create the businesses of the future using new technological approaches to meet the consumer needs in a digitalized word
We aim to partner visionary founders and teams and scale their companies into world class technology businesses by using the resources and deep operational expertise of the Ultimate Capital team
Purpose
Our focus
Transport
& Mobility
& Mobility
Food
Tech
Tech
Market
places
places
Education
Ultimate Capital
investment verticals
investment verticals
Our capital comes, almost, entirely from us reinvesting proceeds from our past success stories.
- $7T – global education market size in 2025
- 4% – spend on digital education;
- $16 bn – amount of VC investments in 2020
- 100 – # of public EdTech firms valued over $1 bn
- 34% – share of ecom, 1Q21 growth higher than in the previous decade
- $62 bn – VC deals in 1Н21, >3.4х YoY growth
- In view of high capex requirements, focus on niche or SaaS companies in ecommerce / modern retail vertical
- $150 bn – global food delivery market
- 2x – US market size growth;
- >90% – share of Top-4 delivery players in the US
- 120% – investment growth in 1Q21, up to $10 bn
- $300-450 bn – micromobility market size in 2030
- 60% – trips under 8 km
- ~$44 bn – size of VC investments in 2021
- 40 mm – daily trips via top-2 ride hailing app
Ultimate Projects
Ultimate Capital выбирает компании, которые используют современные технологические решения и бросают вызов устаревшим бизнес-практикам
10
Компаний в 4х самых динамичных секторах
Ultimate Portfolio
4
Investment Verticals
Education
FoodTech
Marketplaces
Transport & Mobility
Our investment verticals
Our capital comes, almost, entirely from us reinvesting proceeds from our past success stories.
Investment verticals
Education
Food
Tech
Tech
Market
places
places
Transport & Mobility
$7T – global education market size in 2025
4% – spend on digital education
$16 bn – amount of VC investments in 2020
100 – # of public EdTech firms valued over $1 bn
4% – spend on digital education
$16 bn – amount of VC investments in 2020
100 – # of public EdTech firms valued over $1 bn
34% – share of ecom, 1Q21 growth higher than in the previous decade
$62 bn – VC deals in 1Н21, >3.4х YoY growth
In view of high capex requirements, focus on niche or SaaS companies in ecommerce / modern retail vertical
$62 bn – VC deals in 1Н21, >3.4х YoY growth
In view of high capex requirements, focus on niche or SaaS companies in ecommerce / modern retail vertical
$150 bn – global food delivery market
2x – US market size growth
>90% – share of Top-4 delivery players in the US
120% – investment growth in 1Q21, up to $10 bn
2x – US market size growth
>90% – share of Top-4 delivery players in the US
120% – investment growth in 1Q21, up to $10 bn
$300-450 bn – micromobility market size in 2030
60% – trips under 8 km
~$44 bn – size of VC investments in 2021
40 mm – daily trips via top-2 ride hailing app
60% – trips under 8 km
~$44 bn – size of VC investments in 2021
40 mm – daily trips via top-2 ride hailing app
Ultimate Projects
Ultimate Capital works with companies that leverage modern technology solutions to challenge traditional business models and practices
4
Education
FoodTech
Transport & Mobility
Marketplaces
A culture of partnership
After a deal is concluded, we become full-fledged partners to the founders and will treat each business just like how we treat our own
We help companies become leaders in their fields through a systematic approach to financial development, product development and marketing excellence
Team of professionals
Everyone at Ultimate Capital is an expert in the financial field and we are all aligned to helping our partners achieve success with our deep operational expertise
A proven, methodical approach
100 days
Ultimate Capital
Value Creation Plan
Value Creation Plan
We partner companies to create a 100 days step-by-step business development plan and support management with our deep operational expertise at every step of the way
How it works
Activity before the deal
Preparation
Deal
360 degree company analysis
Strategizing a short-term and long-term development strategy
Identifying key metrics: The 100-Day Plan
Activity after the deal
Active phase of the 100-day plan: weekly steering committees status updates with the team
Loosen control after meeting main initiatives: every bi-weekly steering committees
Alignment on strategy: monthly board meetings
+ Processes
+ Team strengthening
+ Marketing & Sale
+ Content Product
+ Team strengthening
+ Marketing & Sale
+ Content Product
+ Legal structuring
+ Cash flows
+ Product matrix
+ Cash flows
+ Product matrix
+ Overall strategy
+ Analytics and sales efficiency
growth
+ Other verticals
+ International markets
+ Analytics and sales efficiency
growth
+ Other verticals
+ International markets
Business value growth
We help companies turn complex scaling goals into a set of clear, feasible steps, build financial discipline and introduce a culture of partnership. Together, these will drive a significant increase in the company's revenue and value in a short time
Goal:
Implementation
100 days
Ultimate Capital
Value Creation Plan
Value Creation Plan
We partner companies to create a 100 days step-by-step business development plan and support management with our deep operational expertise at every step of the way
How it works
Activity before the deal
Подготовка
Deal
360 degree company analysis
Strategizing a short-term and long-term development strategy
Identifying key metrics: The 100-Day Plan
Activity after the deal
Active phase of the 100-day plan: weekly steering committees status updates with the team
Loosen control after meeting main initiatives: every bi-weekly steering committees
Alignment on strategy: monthly board meetings
+ Processes
+ Team strengthening
+ Marketing & Sale
+ Content Product
+ Team strengthening
+ Marketing & Sale
+ Content Product
+ Legal structuring
+ Cash flows
+ Product matrix
+ Cash flows
+ Product matrix
+ Overall strategy
+ Analytics and sales efficiency
growth
+ Other verticals
+ International markets
+ Analytics and sales efficiency
growth
+ Other verticals
+ International markets
Business value growth
We help companies turn complex scaling goals into a set of clear, feasible steps, build financial discipline and introduce a culture of partnership. Together, these will drive a significant increase in the company's revenue and value in a short time
Реализация
Goal: