Spotlight: Dr. Mark Shmulevich – Managing Partner @ Aloniq
Spotlight: Dr. Mark Shmulevich – Managing Partner @ Aloniq
Discover Mark’s philosophy on deep tech investing and venture building, as well as the motivations behind his decision to enter space tech investments.
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Today, I had the pleasure of sitting down with Dr. Mark Shmulevich, Founder and Managing Partner at Aloniq, an early-stage deep tech investment firm, to discuss his background and philosophy.
Mark has been based in Singapore for over 10 years, as the former Chief Strategy and Operations Officer at Acronis (with a majority stake acquired by EQT at a ~$4B valuation), Mark was instrumental in driving the company’s global expansion and enhancing the value of its intellectual property. He then transitioned to scaling software businesses before focusing on deep tech investments and venture building.
Mark's commitment to research commercialization is clear. He led the establishment of the Zimin Institutes, a global initiative that bridges advanced academic research with commercial applications in healthcare and sustainability, and serves as an advisor and board member for the Singapore-MIT Alliance for Research & Technology (SMART) Innovation Centre. Mark holds a Ph.D. in Computer Science and has authored dozens of technological patents. He was a Global Shaper of the World Economic Forum and is certified as an Independent Director by INSEAD.
Summary
Average check size: up to $500K, with flexibility for follow-on investments
Stage: Pre-seed, Seed, Series A
Geography: Global
Sectors: Deep Tech (AI software, energy transition, hardware, space tech, etc.)
Notable portfolio companies: Xona Space Systems, Cynomi, HyPoint, Verne.
What is your investment philosophy, and what inspired you to focus on deep tech?
Creating long-term value and impact is what drives me. Deep tech is essential for this, as it addresses tough engineering and scientific challenges, solving real-world problems. These innovations don’t just improve the status quo—they create new markets, disrupt industries, and leave a lasting societal impact. Unlike incremental improvements, deep tech leads to breakthroughs that can reshape entire sectors and make us all more capable in the future.
Investing in deep tech requires a longer time horizon compared to more typical sectors, such as software. It can take years to develop, scale, and commercialize these scientific and technological breakthroughs. While this demands more patience, it also offers the potential for outsized returns when these innovations succeed.
Additionally, deep tech companies tend to build significant intellectual property (IP), such as patents and proprietary technologies. This creates strong competitive moats and high barriers to entry. Once a deep tech company achieves technological success, it becomes much more difficult for competitors to replicate, which can lead to sustainable, long-term growth and a stronger investment profile over time.
Throughout my career, I've worked in industries and companies where intellectual property and research were highly valued. When I transitioned to investing and venture building, deep tech was the natural choice for me.
You're also involved in venture building—can you tell us more about that?
In addition to my investment activities, I’ve been deeply involved in leading venture-building efforts through the establishment of the Zimin Institutes. We now have a presence at Tel Aviv University (focused on medical device engineering), Technion (specializing in AI in healthcare), and Arizona State University (dedicated to smart and sustainable cities), with plans for further global expansion including the UK and Singapore. These institutes have been instrumental in bridging the gap between cutting-edge research and commercial success, helping innovative research transition into the market.
Through these efforts, we’ve generated eleven spin-offs to date, each stemming from innovations developed within these institutes. The Zimin Institutes are still young and continually refining their operations, optimizing the support model. We believe that the ultimate Zimin Institutes model may become a blueprint for research commercialization.
This year, we partnered with the Breakthrough Prize Foundation to further advance our joint mission of supporting research commercialization, enabling academic innovators to make a real difference in the world. This collaboration is part of our broader commitment to ensuring that scientific discoveries achieve their full commercial potential.
What inspired you to begin investing in space tech, and what led you to choose Xona Space Systems and BioOrbit as part of your portfolio?
Space tech has always been a fascinating area for me, as I truly believe space exploration is the future of civilization. Beyond that, space technology has the potential to transform a wide range of industries—from agriculture and climate monitoring to pharmaceuticals and beyond. Additionally, I worked in the space technology sector early in my career, so I understand the industry from a practitioner’s perspective.
Several key factors drove our interest in this sector:
Rapidly growing space economy: With projections of a $1.8 trillion market by 2035, we believe the industry is at the start of a hockey stick growth phase. There's a limited window of opportunity to establish a strong position, as the landscape will be very different in five years.
Improved unit economics: Thanks to SpaceX reducing launch costs, the economics of space have fundamentally shifted. Experiments once only possible through government space agencies can now be commercialized into real businesses.
Industry momentum: We're seeing a wave of talented founders entering the space sector, many from non-space backgrounds, similar to how the internet boomed in the 1990s. This influx of entrepreneurial talent is driving the industry forward and creating a vibrant innovation ecosystem.
Xona Space Systems is developing the next generation of satellite-based positioning and navigation services, offering far greater precision than traditional GPS. We co-invested in their Series A alongside Future Ventures and Seraphim Capital. As current GPS capabilities begin to limit innovation, we believe Xona’s technology has the potential to provide a 10x leap for our civilization. The full range of its applications is yet to be realized, and we’re confident it has the potential to become a decacorn.
BioOrbit is a groundbreaking life sciences company pioneering protein crystallization in space. On Earth, protein crystals can collapse due to gravity, but in the microgravity environment of space, they can grow larger and purer. This has enormous potential for the pharmaceutical industry, offering new opportunities for drug development. For instance, this technology could enable treatments where cancer patients can administer injections at home, avoiding lengthy IV treatments in hospitals. The impact on healthcare could be transformational.
Thank you, Mark, for sharing your inspiring story and insights!
We’re excited to see more VCs betting on DeepTech and SpaceTech, and we hope others will follow your lead. If you’re an investor planning to start investing in SpaceTech, feel free to reach out to us at hello@spaceambition.org. We’d be happy to support you on this journey!
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This interview was a great insight, please keep doing this more in future