Leonid Boguslavsky 101: Pioneering Venture Capital Investor
Zatrun Published at February 16, 2024

Born in Moscow, USSR, on June 17, 1951, Leonid Boguslavsky’s journey to becoming a renowned entrepreneur, scientist, and venture capital investor is a testament to his exceptional accomplishments. has delved into the life and achievements of Leonid Boguslavsky, shedding light on the remarkable story of his rise to prominence.

Leonid Boguslavsky: Early Life and Academic Pursuits

Leonid Boguslavsky’s early life was marked by academic excellence and an innate curiosity for the world. His father, Dr. Boris Kagan, was a distinguished computer engineer and scientist, whose contributions to the field left a lasting impact. This nurturing environment fueled young Boguslavsky’s passion for knowledge.

During his school years in Moscow, he exhibited exceptional aptitude in the field of mathematics and science. Notably, he won the Moscow University Biology Olympiad while in the sixth grade, a feat that underscored his natural talent and dedication. His early achievements also included securing victory in the USSR TV Mathematics Olympiad.

In 1973, under the guidance of Rector Fyodor Kochnev, Leonid Boguslavsky graduated from the Moscow Institute of Transport Engineering (MIIT), an institution where his father, Boris Kagan, was an esteemed professor. His academic journey led him to major in Computer Science and Applied Mathematics, paving the way for his future contributions to the field.

For the next seventeen years, from 1973 to 1990, he embarked on an impressive career in scientific research at the Institute of Control Sciences of the USSR Academy of Sciences. His work revolved around the intricate realms of mathematics for computer systems and networks. As he continued to expand his horizons, he completed his Doctorate of Science in Engineering and went on to publish numerous articles, scientific books, and inventions, all while leading his own laboratory.

One of the notable projects led by Boguslavsky in 1985 was a collaborative effort with a team of developers from the Academy of Science of Moldova. This venture aimed to create a software system that would seamlessly connect IBM mainframes with Digital minicomputers and personal computers, forming an integrated computer network. His groundbreaking work secured significant contracts in 1987, with successful implementations in a Czech coal mining company and the Polytechnic University in Slovakia.

Career Beginnings and Entrepreneurship

In 1989, Leonid Boguslavsky transitioned to a Soviet-Italian joint venture that focused on computer network projects in Czechoslovakia. His role quickly expanded to deputy director and shareholder, setting the stage for his emergence as a key player in the field.

A pivotal moment in his career arrived in 1990 when Oracle Corporation offered Boguslavsky the opportunity to distribute Oracle software products in the USSR. This led to an exclusive distribution agreement between Leonid Boguslavsky and Oracle for the USSR territory. In 1990, he founded LVS, marking the beginning of his journey as an entrepreneur.

From 1991 to 1992, he served as a visiting professor at the Department of Computer Science at the University of Toronto in Canada. Following his academic engagement, he returned to Moscow to continue his work for Oracle.

By 1992, Boguslavsky’s focus shifted to building his business empire. This marked the inception of LVS as a systems integration company, known for its Oracle-based information system for the apartment registrar of Moscow in 1993. LVS’s influence continued to grow as it became a dominant producer of electronic voting machine equipment and accompanying software by 1994.

In a significant turn of events, PricewaterhouseCoopers selected LVS and its technology, making Boguslavsky a senior partner and providing him with $10 million upon PwC’s acquisition of LVS. In late 1996, Boguslavsky sold LVS to PricewaterhouseCoopers, a transition that saw him becoming a Managing Partner at PwC. His role expanded to leading PwC’s Management Consulting Services (MCS) practice in Russia in early 1997.

Venture Capital Investment Era (2000-)

The year 2000 marked a pivotal phase in Leonid Boguslavsky’s career, as he began to immerse himself in the intricacies of venture capital investment. He learned the fundamentals of the field from seasoned experts, including Michael Calvey and Elena Ivashentseva of Baring Vostok.

In 2000, Boguslavsky, along with notable figures such as Charles Ryan of UFG, Michael Calvey of Baring Vostok, and David Mixer of Rex Capital, jointly founded ru-Net Holdings Limited. This investment company, with an initial capital of $20 million, became a cornerstone of his venture capital journey.

Leonid invested substantially and assumed the position of chairman of the board of directors. Notably, ru-Net Holdings Limited made groundbreaking investments in companies like Yandex and the online retailer, a testament to Boguslavsky’s keen eye for promising ventures.

Leonid Boguslavsky’s vision led to his decision to focus on investing in internet companies. This period saw the beginning of his deep involvement in the tech industry, a passion that would later yield significant results. Despite his increasing commitment to the world of venture capital, Boguslavsky maintained his position at PwC for an additional year to ensure a seamless transition.

In 2001, Leonid Boguslavsky officially parted ways with PwC, becoming the CEO and chairman of the board of directors of ru-Net Holdings. This shift allowed him to dedicate his full attention to investment in internet companies, forging a path that would lead to substantial success.

The year 2002 marked a turning point for ru-Net Holdings as it ventured into investments in system integration and software development companies. These acquisitions included stakes in TopS, an enterprise management systems integrator, and VDI, an offshore programming company.

In a significant development, VDI merged with Epam, emerging as the largest offshore programming and software outsourcing company in Central and Eastern Europe. During this transformation, ru-Net Holdings restructured its business in 2006, retaining only Yandex shares and changing its name to Internet Search Investment Limited (ISIL).

The assets, including shares of, TopS, and VDI, were distributed among the shareholders of ru-Net Holdings, with Boguslavsky retaining a substantial stake in ISIL. This strategic move enabled him to continue benefiting from his shareholding in Yandex, while also holding corresponding stakes in other valuable assets.

In 2006, Boguslavsky established ru-Net Limited, an investment company that took control of his assets and facilitated further investments in IT and internet technologies and services. The company was instrumental in various key developments, such as VDI’s merger with Epam and TopS’s integration with Systematica, which ultimately became Systematica Group.

His investments were not confined to a single region; in fact, Boguslavsky displayed a global outlook by making significant investments in both Europe and India. These investments spanned a wide array of sectors, from Big Data and SaaS to cloud computing, fintech, healthcare, IoT, and information security. His forward-looking approach led to substantial investments in companies like Delivery Hero and RingCentral.

In 2016, Leonid Boguslavsky’s influence extended into the realm of sports and fitness. He co-founded the Super League Triathlon (SLT), the first professional international league in triathlon. His partnerships with renowned athletes Chris McCormack and Michael D’Hulst propelled SLT to prominence. Furthermore, Boguslavsky’s engagements in the sports and fitness domain led to investments in companies such as Urban Sport Club, which offers passes to sport and fitness clubs.

Transition to RTP Global

In October 2018, ru-Net underwent a rebranding transformation and emerged as RTP Global. This change signified an important shift, as RTP Global expanded its horizons, focusing on early-stage investments in the U.S. market, particularly in fields such as Big Data, SaaS, cloud computing, fintech, healthcare, IoT, and information security. The establishment of a New York office was a significant step in this direction.

RTP Global, under the leadership of Leonid Boguslavsky, continued to pursue diverse investments, not just in the U.S., but also in Europe and India. These ventures encompassed companies like Delivery Hero, Practo, Faasos, Snapdeal, HeadHunter, and iContext, among others. The global reach of RTP Global and its focus on innovative technologies and services made it a major player in the venture capital landscape.

Personal and Philanthropic Endeavors

Outside of his professional life, Leonid Boguslavsky is a man of diverse interests and passions. He holds Canadian citizenship since 1996 and currently resides in Italy. A devoted family man, he is married and has four children.

In addition to his business ventures, Boguslavsky has dedicated his time and resources to philanthropic efforts. In 2013, he established the Andrei Voznesensky Fund, together with his mother, Zoya Boguslavskaya, in memory of the late Russian poet, Andrei Voznesensky. In 2016, he furthered his commitment to culture and established the Andrei Voznesensky Center of Culture, a testament to his belief in the value of the arts and their enduring impact.

Response to Russia’s Invasion of Ukraine

In February 2022, Leonid Boguslavsky released a poignant statement, urging an immediate end to the catastrophic and unjustified war in Ukraine. His commitment to the cause of peace and justice was underlined by his own journey.

Boguslavsky’s decision to move from Russia to Canada as a young man marked the beginning of his remarkable career, an investment career that eventually spanned the globe. Importantly, his statement clarified that he has no political ties to Russia and that more than 99% of his net worth was created outside of Russia. It is worth noting that RTP Global has never received an investment from a Russian institution, and this venture capital firm does not invest in Russia.

The story of Leonid Boguslavsky is one of boundless curiosity, entrepreneurship, and a commitment to making a positive impact on the world. From his early academic achievements to his entrepreneurial ventures and philanthropic efforts, he has left an indelible mark on the technology and venture capital landscape.

His success is not confined by borders, and his enduring influence is a testament to the power of innovation and investment in the digital age. Leonid Boguslavsky continues to shape the future of technology and society through his unwavering dedication and visionary leadership.

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