Dmitry Borisovich Volkov is an investor, philosopher and a serial tech entrepreneur. Volkov is known for his bold approach to investing, industry expertise and passion for philosophy and art.
Social Discovery Group (SDG), one of the largest social discovery companies worldwide, was established in 2014 by Dmitry Borisovich Volkov and his partners. The group encompasses over 60 apps, a venture studio, and an investment fund. Social Discovery Group’s products are used by over 500 million people in more than 150 countries.
In addition to managing SDG, Dmitry Volkov is engaged in the investment business: SDVentures invests directly in young IT companies, in venture funds, and in funds of venture funds. In the portfolio of SDVentures, there are about thirty such projects. In addition, Volkov has a real estate fund named Real Estate Discovery Ventures (REDV), which is focused on shopping malls in the US.
Consumer Tech Investments By Dmitry Volkov
In 2016, Volkov invested $1 million in the Academia.edu platform. The service allows researchers to share their scientific work with each other. “The idea was to revolutionize the scientific world in the same way that Spotify revolutionized the music world and Netflix revolutionized the film world,” says entrepreneur Dmitry Volkov. Academia.edu offers scientists a platform where they can publish drafts of their work or alternative articles with free access to “accelerate global research.” Richard Price, Founder and CEO at Academia.edu, lauded Dmitry’s positive approach to life, his willingness to think big, and try exciting ideas.
In 2018, Flo Health, a platform for monitoring women’s reproductive health, raised $1 million from SDVentures. The Flo solution combines a menstrual and ovulation calendar powered by a neural network, a feed of women’s health content, and a social network where women can communicate anonymously in group chats. Additionally, the app offers helpful pregnancy tips. “Thanks to the fact that they were the first in this segment to create and successfully implement a neural network algorithm, this project has a real chance of becoming a new unicorn. Given the speed and scope of the platform’s development, competitors have little chance of catching up with it,” Dmitry Volkov of Social Discovery Group had said. True to his prediction, Flo’s valuation exceeded $1 billion in 2024, after it raised over $200 million in a Series C investment from General Atlantic. Flo was founded in 2015 by entrepreneurs Dmitry and Yuri Gursky. According to the latter, SDVentures’ experience and expertise will help Flo develop social media projects in the Asian, European, and American markets.
In April 2018, Dmitry Volkov and Yuri Gursky joined the management company of Gagarin Capital, a venture capital fund founded by Nikolai Davydov and Mikhail Taver, which specializes in investing in artificial intelligence. In 2019, Dmitry sold a portion of his intellectual property to the management company for $215 million and acquired a stake in the merged company, Dating Group. “Part of my investments, including those in artificial intelligence, is related to my work in philosophy and my thinking about the future,” Dmitry Volkov says. The fund’s portfolio includes 19 companies, and Dmitry periodically communicates with their founders and offers them various forms of assistance, according to Davydov. Through Gagarin Capital, Volkov invested in Cherry Labs, a company that has developed a smart home system that not only monitors and records what is happening, but also understands when a family member needs help.
In 2019, Volkov Dmitry invested $500,000 through SDVentures in another popular project, Patreon, a service that allows people to donate money to content creators, such as vloggers, artists, musicians, designers, and more. In 2021, Patreon earned unicorn status, with its valuation exceeding $1 billion.
In 2020, Social Discovery Ventures invested $1 million in Woebot Health, Inc., whose chatbot “Woebot” provides users with psychological assistance. According to Dmitry Volkov, a chatbot can replace a psychologist and a psychiatrist, and moreover, “it should revolutionize psychology”. The chatbot is always available and much cheaper, according to the investor. Reputed venture capital firm NEA is also an investor in this project.
Another topic that Dmitry Volkov is interested in is drones. The serial entrepreneur was one of the early investors in Sunflower Labs, a drone security startup. Recently, Sunflower Labs secured $16 million in Series B funding led by Silicon Valley-founded Sequoia Capital, the most successful startup investor in the world, which reaffirms Volkov’s abilities in finding startups with potential to grow big.
Volkov’s company is also developing a general conversational chatbot called iFriend, which will be able to engage in conversations on any topic. “We leave messages on social media and in messaging apps. The amount of data about each person is vast. This chatbot will allow us to create a virtual companion that closely resembles the person in question,” says Volkov.
Fable Studio is another project in which Volkov was one of the early investors. It is an AI-powered platform that enables users to create high-quality videos quickly and easily. They are also building a streaming platform that will showcase the best AI-generated content from around the world. Recently, Amazon has invested in them, and they are being called the “Netflix of AI”. Interestingly, Dmitry Volkov had long ago figured out the potential of Fable Studio.
Other prominent projects in which SDVentures invested include – OpenAI, digital banking platform Revolut, fintech startup Rapyd and EdTech startup Harbour.Space, among others.
A Digital Nomad
Though Volkov Dmitry is an EU citizen, he identifies himself as a digital nomad – someone who lives in multiple countries without a permanent settlement in any of them.
In Dmitry Volkov’s biography, one word would find constant mention – humility. Despite his many achievements, Volkov remains humble and devoted to his community. He has donated generously to various causes, including education, health and the arts, and is actively involved in several charitable organizations. He sees his success as a privilege that comes with the responsibility to have a positive impact on the world.
Through his writings, public speaking and philanthropic activities, Dmitry Borisovich Volkov inspires others to follow their passions with energy and dedication. Volkov’s life is a testament to the power of intellectual curiosity and the importance of purposeful living.
