Venture capital firm 8VC, known for its investments in defense tech companies like Palantir and Anduril, has come under scrutiny for employing the children of sanctioned Russian oligarchs. Denis Aven, son of Petr Aven, a Russian banker sanctioned by multiple countries in 2022, joined the firm in 2022. Jack Moshkovich, son of Vadim Moshkovich, a billionaire Russian oligarch sanctioned by several countries in 2022, has been with 8VC since 2018.
While there is no evidence of financial ties between the sanctioned fathers and 8VC, the presence of their sons in the firm raises concerns about foreign influence in Silicon Valley and national security threats. The U.S. government has issued warnings about foreign adversaries using investment firms to access sensitive data. Former State Department sanctions coordinator Daniel Fried noted that hiring the children of individuals assumed to be supporting the Russian regime requires thorough due diligence.
In response to the scrutiny, 8VC’s managing partner Joe Lonsdale emphasized the firm’s strict compliance and legal framework, stating that they have not received any funding from the sanctioned fathers or their associates. Lonsdale defended the Russian colleagues at 8VC on X, calling the accusations a “pathetic hit piece” and praising them as talented individuals. Other 8VC employees, including cofounder Drew Oetting and Palmer Luckey, expressed support for Moshkovich and Aven.
8VC, founded by Palantir cofounder Lonsdale in 2015, has expanded its portfolio to include defense tech investments, citing China’s technological advancements as a reason for backing military startups. With a team of over 70 employees and 10 investment partners, the firm has focused on seed and series A funding rounds. Moshkovich, who became a U.S. permanent resident in 2022, has worked on various investments but does not appear to have been involved in defense-related deals.
Aven, who joined 8VC as an entrepreneur-in-residence after facing job rejections due to his father’s sanctions, has disputed the allegations against his father and emphasized his opposition to the Russian regime. Petr Aven, who previously led Alfa Bank, was sanctioned by the U.S. in 2023 for his involvement in the Russian economy. Despite the controversy surrounding their fathers, Lonsdale defended Aven and Moshkovich, highlighting their talents and contributions to 8VC.
While the employment of individuals linked to sanctioned Russian oligarchs has sparked debate, Lonsdale and other 8VC employees maintain their support for Moshkovich and Aven. As the U.S. government increases its focus on foreign connections in the tech industry, the presence of individuals with ties to sanctioned individuals raises questions about due diligence and national security implications. 8VC’s commitment to compliance and legal standards will be closely monitored as the situation unfolds.
