I2BF Global Ventures was established in Silicon Valley in 2005 by Ilya Golubovich together with two cofounding partners. Starting off with USD 15 million in 2006, the group made its first investment in Primafuel, a second-generation biofuels company in California. By the end of 2007, I2BF Holdings I, a collection of managed accounts and investment vehicles, had deployed over USD 70 million.
In 2007, I2BF’s headquarters moved from California to London to take advantage of increasing European and Asian opportunities, while still having reach to North and South America. The Moscow office was opened in early 2008 and serves as the technological and financial due diligence hub.
In late 2008, I2BF launched a quantitative long-short hedge fund the I2BF Arbat Clean Technology Fund with USD 20 million in seed capital, thereby expanding its reach into the growing global public market. I2BF successfully leveraged its existing knowledge of technology, market fundamentals and quantitative methods to give investors wider access to the growing renewable energy sector.
In 2010, I2BF announced the launch of its follow on venture fund, I2BF Venture Fund II as well as the VTB-I2BF Russia Kazakhstan Nanotechnology Fund, a venture capital fund which I2BF co-manages with VTB Capital, Russia's leading investment bank.
The New York office was opened in late 2010 and the Dubai office was opened in early 2011 to further expand I2BF's global reach. In late 2011, I2BF decided to focus on its core venture capital activity and handed over the management of its hedge fund to Arbat Capital.
In 2012, I2BF launched the I2BF-RNC Strategic Resources Fund, its first late-stage nanotechnology fund focusing on resources as well as water and agriculture. In late 2012, the Astana office was opened to provide hand-on management of the Russia Kazakhstan Nanotechnology Fund in Kazakhstan.