Billionaire Plans $100 Million Fund to Draw AI Startups to Columbus
Ratmir Timashev launched Oh.io, a venture firm that will pay sales and marketing teams for up to two years if startups open operations in Columbus. The effort follows Timashev’s earlier $110 million donation to Ohio State for a software innovation center.
dailyhodl.comRatmir Timashev launched Oh.io in February to recruit growth-stage AI companies to Columbus. In exchange, Oh.io receives an option to invest at a lower valuation once the period ends. Timashev said the goal is to bring companies with $1 million to $5 million in revenue from the U.S., Europe, and Israel.
Timashev moved to Ohio State in 1992 after graduating from the Moscow Institute for Physics and Technology. He later co-founded Veeam, which he and partner Andrei Baronov sold for $5 billion in 2020. Forbes estimated his net worth at $5.4 billion. He has pledged $150 million to Ohio State, including the $110 million gift in 2020 that set a university record.
Timashev joined the Columbus Partnership, a group of about 80 local CEOs, earlier this year. Jason Hall, the group’s CEO, said Timashev believes the region can become a Midwest tech hub. The article noted that Timashev is also facing a legal dispute with three former executives who say they were fired in April.
