In a recent discovery, it has come to light that venture capital firm 8VC, known for its investments in U.S. defense contractors like Palantir and Anduril, has employed two individuals with intriguing connections. Denis Aven, son of sanctioned Russian oligarch Petr Aven, and Jack Moshkovich, son of Russian billionaire Vadim Moshkovich, hold positions on the investment team at 8VC.
Petr Aven was sanctioned by various entities, including the U.S. Treasury, for his involvement in operating a major Russian commercial bank. Meanwhile, Vadim Moshkovich, accused of ties to the Kremlin and Russian President Vladimir Putin, also faced sanctions from several countries following Russia’s invasion of Ukraine in 2022.
While there is no evidence of financial transactions between the sanctioned fathers and 8VC, the presence of their sons in the firm raises questions, especially given the current focus on foreign influence in Silicon Valley by the U.S. government. The National Counterintelligence and Security Center recently issued a bulletin warning about potential threats posed by foreign adversaries gaining access to sensitive data through investment firms.
8VC’s response to inquiries about these connections emphasized their strict adherence to compliance and legal guidelines, highlighting that they have not received any funds from the sanctioned individuals. Managing partner Joe Lonsdale defended the two employees, describing them as talented individuals with promising futures.
Despite the controversy surrounding their backgrounds, Aven and Moshkovich continue to be valued members of the 8VC team. Aven, an entrepreneur-in-residence, is working on launching a new venture within the firm, while Moshkovich focuses on investments, particularly in seed and series A funding rounds.
As tensions between Russia and Western countries persist, the presence of individuals with ties to sanctioned individuals in prominent technology investment firms like 8VC raises important questions about national security and foreign influence in Silicon Valley. This revelation underscores the need for thorough due diligence and oversight to safeguard sensitive technologies and data from potential threats.
