Viktor Prokopenya

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Viktor Prokopenya
Born (1983-07-21) July 21, 1983 (age 40)
Minsk, Byelorussian Soviet Socialist Republic
NationalityBritish
OccupationExecutive Director at VP Capital (2012—present)

Viktor Prokopenya (born July 21, 1983) is a British technology entrepreneur and investor. He started in 2001 as a technology entrepreneur, and since 2011 has been investing in fintech companies, including Capital.com. He has been a visiting professor at the University of Leeds since 2023.

Education

Viktor Prokopenya was born in Minsk to scientist parents: his mother was a mathematician, and his father held a doctorate in physical and mathematical sciences, working at the Belarusian State University and later at the Belarusian National Technical University. He attended schools No. 2 and No. 130, where he graduated with distinction. He earned a bachelor's in IT from the European Humanities University (2004), a degree in software development from the Belarusian State University of Informatics and Radioelectronics (2006), a bachelor's in law from the Belarusian State University (2010), and an MBA from Minsk IPM Business School (2010). He continued his education in the US at Full Sail University (gaining a master of internet marketing; 2012), Stanford Graduate School of Business (executive education course in strategic marketing; 2016), and Northeastern University in Boston (master of finance; 2016). In 2017, he completed his doctorate in business administration at SBS Swiss Business School.[1][2][3][4]

Entrepreneurship

Viaden Media

Viktor Prokopenya's father left the field of science to pursue a career in business. He died in a car crash when Viktor was 16. Upon his father’s death, Viktor assumed responsibility for providing for his family.[5] This led him into IT consulting, and in the early 2000s, he founded IT outsourcing developer Viaden Media, initially as an IT consultancy that developed web applications for major U.S. and European companies. By 2006, the company moved away from IT consulting to focus on product development.[4][6]

From 2009, Viaden developed mobile applications for iPhone and iPad, creating over 100 top-rated apps like All-in Fitness, Smart Alarm Clock, and Yoga.com.[7] For a long time, All-in Fitness was highly ranked in AppStore's Healthcare & Fitness category across 40+ countries. By 2011, Viaden had achieved over 200 million app installations, becoming Eastern Europe's largest mobile software developer. Prokopenya sold Viaden in 2011 to Playtech's founder for an estimated €95 million.[2][6]

VP Capital

In 2012, Prokopenya founded VP Capital, an investment firm focused on the tech and fintech sectors. Some of its early investments included exp(capital), a fintech firm focused on developing solutions for banks and brokers. Exp(capital) was ranked the best employer in 2014, and IG Holdings later acquired its mobile app department.[6][8][9] Prokopenya also established VP Capital Real Estate, focusing on central street assets. By 2017, the company had become Minsk's largest private owner of such real estate.[3][6][9]

Viktor Prokopenya, May 2018

In 2017, VP Capital negotiated the acquisition of several Ukrainian and Belarusian banks, but Prokopenya subsequently postponed these plans due to poor market conditions.[10] In December 2016, Larnabel Ventures Fund and VP Capital announced plans to invest in computer vision, augmented reality, and AI startups. They reported several investment agreements between 2017 and 2019, but the two investors parted ways by 2021. Shortly after the split in 2021, VP Capital acquired Larnabel's shares in Capital.com and Currency.com, while Larnabel's shares in Banuba were sold to private investors and the management.[9][11][12]

Prokopenya's current main project is Capital.com, launched in 2016. Capital.com is a global fintech firm providing online trading services in contracts for difference (CFDs), share dealing, futures trading, and options on futures. The company has subsidiaries in the UK, Cyprus, and Australia and is regulated by FCA (UK), CySEC (Cyprus), SCB (Bahamas), and ASIC (Australia). Capital.com positions itself as a fintech company using AI for online financial trading. By early 2023, Capital.com is the third largest broker in Europe and had 7 million accounts.[13][9][14][15]

Legal and social initiatives

Prokopenya participated in developing legislation aimed at stimulating the IT industry in Belarus. He began proposing for changes in 2017, which would later materialise into the Decree on Development of Digital Economy, designed to be a mutually beneficial legal framework for IT businesses in post-Soviet countries.[16][17]

Prokopenya advocated for digitalizing schools, presenting 600 students with tablets in December 2018.[18][19] In 2019, he proposed reforms to the state education system, including the introduction of electronic paperwork, virtual tutorials, personalized teaching methods, career guidance, and modernizing of teachers’ remuneration. He also pushed for greater focus on English in schools while supporting Belarusian language development with various sponsorships.[20] He sponsors «Вяселка» (‘Vyaselka’) magazine for children, Jerzy Giedroyc Literary Award, and «Наша Гiсторыя» (‘Our History’) publication.[21]

Prokopenya highlighted the limited number of IT specialists and low IT education levels among university graduates, proposing a $15 million initiative from the High Tech Park fund to support IT education, which would benefit thousands of students annually. However, authorities did not support these initiatives.[22]

Professorship

From September 2023, Prokopenya precepts as a visiting professor of Practice in Innovation and Entrepreneurship at the University of Leeds.[23][24]

Media relations

Viktor Prokopenya

Prokopenya has publicly defended independent media against state pressure. In 2018, he opposed blocking Charter 97 and Belarusian Partisan sites and asked Belarusian authorities to release detained journalists and editors from TUT.BY, BelaPAN, and other media outlets.[25][26]

In the spring of 2015, Prokopenya was detained by Belarusian authorities for allegedly generating $650,000 of profits through unregistered business activity. He denied the allegations, and the IT community and media defended him. UK Ambassador Bruce Bucknell called the case a 'disastrous sign.' Prokopenya was released on bail in late 2015, and all allegations were dropped in 2016.[27][28][29][30][31] He then moved to London.[32]

His story gained widespread press coverage in Belarus. In 2017, Prokopenya's legal advisors requested corrections to old publications containing inaccurate information. Some media complied, sparking discussion on journalistic ethics.[33][34]

In 2017, VP Capital invested $500,000 in Dev.by media. In 2020, the authorities detained Dev.by's editor-in-chief Natalya Provalinskaya, and the team relocated to Ukraine, launching Dev.ua.[35] In 2021, Prokopenya invested an additional $500,000 in a joint project with Dev.media.[36] In 2022, Dev.by's director, Vitaly Andros, and his wife were detained in Belarus, with criminal charges announced later. Pro-government sources accused Andros of incitement to a coup and Dev.by of provoking negative sentiment against the Lukashenko regime.[37]

Charity

During the COVID-19 pandemic, Prokopenya criticized Lukashenko’s authorities for ignoring the disease and not implementing quarantine measures. Prokopenya launched the 'Help the Doctors' initiative and donated $100,000 to fight the coronavirus.[38][39]

After the scandalous 2020 Belarusian presidential election, Prokopenya condemned violence against protesters, donated $100,000 to victims of law enforcement abuse, and urged the business community to join this initiative.[40] He, along with 300 IT CEOs, threatened to move their businesses out of the country if authorities didn't hold re-election and stop the violence.[41] VP Capital allowed employees to leave the country and transfer to offices abroad.[42]

After the 2022 Russian invasion of Ukraine, Prokopenya condemned the aggression. His company, Currency.com became the first trading platform to stop working with clients from Russia, facing a large-scale DDoS attack afterward.[43][44] Prokopenya donated $1 million to Ukrainian relief efforts, distributed across four charity organizations.[45] Prokopenya signed a VC and startup petition condemning the bloodshed in Ukraine and attended the Munich Security Conference in 2023.[46][47][48]

The Prokopenya Family Foundation is involved in children's education, helping disadvantaged families, and empowering young women.[24]

Recognition

Media outlet "Ezhednevnik" included Prokopenya in its list of the 25 most prominent businessmen in independent Belarus.[49] In 2018, he received the "Man of Action" award for "creating an exemplary innovative enterprise".[50] He has been named Belarus's Entrepreneur of the Year three times.[51] In March 2019 he was granted the Westernization Award for his contributions to the field of IT legislation in Belarus.[52]

Personal life

Prokopenya is married and has three sons.[53] He resides and works in London. He holds British citizenship.[48] His hobbies include diving, cycling, and reading.[1][3][54]

Publications

  • Ben-David, Itzhak; Birru, Justin & Prokopenya, Viktor (2018). "Uninformative Feedback and Risk Taking" (PDF). Review of Finance. doi:10.1093/rof/rfy022.

References

  1. ^ a b "10 фактов о белорусском миллионере, ведущем переговоры о покупке Сбербанка Украины" [10 facts on belarusian millionaire who plans to buy Ukraine Sberbank] (in Russian). Vesti-ukr.com. 2017-07-14.
  2. ^ a b "Как становятся миллиардерами в Беларуси. И кто следующий" [How to become a millionaire in Belarus, and who’s next] (in Russian). 2017-10-03.
  3. ^ a b c "Кто вы, претендент на покупку Сбербанка?" [Who is the new pretender for Sberbank acquisition?] (in Russian). Ukrinform. 2017-07-14. Archived from the original on 2021-01-18.
  4. ^ a b "Trends by Viktor Prokopenya". The Minsk Herald. 2017-11-10.
  5. ^ ""Надо провести черту". Прокопеня — об амнистии бизнеса, объединении с Россией и жене" [‘We have to draw the line’. Prokopenya on amnesty for business, alliance with Russia and his wife] (in Russian). TUT.BY. 2018-11-23. Retrieved 2019-05-23.
  6. ^ a b c d "Айтишный банкир. Как IT-бизнес довел Виктора Прокопеню до покупки банков" [IT Banker. How IT business brought Viktor Prokopenya to banking] (in Russian). UBR.ua. 2017-07-14.
  7. ^ "Самая популярная спортивная программа для iPhone выпущена белорусской компанией" [The most popular iPhone fitness app is developed in Belarus] (in Russian). dev.by. Retrieved 2019-05-30.
  8. ^ Sipakova, K. (2014-02-28). "Как белорусский стартап exp(capital) зарабатывает на том, что сложно даже скопировать" [How Belarusian start-up exp(capital) earns on what is difficult to even copy] (in Russian). TUT.by.
  9. ^ a b c d "Как проекты VP Capital прошли через 2020". Dev.by. 2020-11-07.
  10. ^ Kalukov, E., Bojko, M. (2017-08-03). "Виктор Прокопеня отказался от покупки "дочки" Сбербанка на Украине" [Viktor Prokopenya will not acquire Ukraine’s Sberbank] (in Russian). RBK.{{cite web}}: CS1 maint: multiple names: authors list (link)
  11. ^ "Саид Гуцериев продал доли в трёх криптобиржах" [Said Gutseriev to sell his stakes in three cryptocurrency exchanges] (in Russian). Dev.by. 2021-08-18.
  12. ^ "Топ-менеджмент Banuba выкупил долю у основного инвестора" [Banuba's top management bought out the stake from the main investor] (in Russian). Dev.by. 2022-11-24.
  13. ^ "Capital.com Adds 1 Million New Users in Q2, Injects £2.5M into UK Business". Finance Magnates. 2022-07-19.
  14. ^ "Capital.com Review". forexbrokers.com. 2023-12-19.
  15. ^ "Capital.com relocates to 21,000-square-foot headquarters in St. James, London". financefeeds.com. 2023-02-21.
  16. ^ "Беларусь начала продвижение IT страны на внешний мир" [Belarusian IT advances on the world market] (in Russian). TUT.BY. 2017-11-28. Retrieved 2019-05-24.
  17. ^ "Декрет о развитии цифровой экономики: что написано в документе, обещающем великую ИТ-революцию" [Decree on Development of Digital Economy: what’s in the document, promising the Great IT revolution] (in Russian). Новости Tut.by. 2017-12-22. Retrieved 2017-12-23.
  18. ^ "Виртуальные классы, пять уроков английского в неделю, профориентация. Прокопеня о реформе образования" [Virtual classrooms, 5 hours of English language per week, career guidance. Prokopenya on education reforms] (in Russian). Dev.by. Retrieved 2019-05-24.
  19. ^ ""Думали — конфеты, а там крутые девайсы". Айтишники подарили школьникам Оршанского района 600 планшетов" [‘We expected candies, and got cool gadgets instead.’ IT-businessmen to present students of Orsha district with 600 tablets] (in Russian). TUT.BY. 2018-12-21. Retrieved 2019-05-24.
  20. ^ "Прокопеня сформулировал 20 предложений для школьной реформы" [Prokopenya formulated 20 proposals for school reform] (in Russian). Dev.by. 2019-10-14.
  21. ^ ""Мы хотели, чтобы увеличили прием айтишников в вузы в пять раз, пока увеличили в полтора". Прокопеня про образование" [‘We strived to five times raise for IT specialists university admissions rate, now we only grew up to one-and-a-half’. Prokopenya on education]. dev.by. 2019-06-14.
  22. ^ "Что Прокопеня предложил Лукашенко изменить в системе образования?" [What changes in education did Prokopenya offer Lukashenko?] (in Russian). Belarus partisan. Retrieved 2021-08-15.
  23. ^ "Viktor Prokopenya appointed as a Visiting Professor of Practice in Innovation and Entrepreneurship". University of Leeds. 2023-06-09.
  24. ^ a b "Leading entrepreneur whose business suffered Russian cyber attack set to become professor at Leeds university". The Yorkshire Post. 2023-07-28.
  25. ^ "Прокопеня заступился за "Хартию"" [Prokopenya stands up for ‘Charter 97’] (in Russian). Belsat. Retrieved 2019-05-24.
  26. ^ ""Не по-мужски их в изолятор к бомжам кидать". Виктор Прокопеня про задержания журналистов" [‘It’s just not decent to throw them into cells with hobos’. Viktor Prokopenya on journalists’ detentions] (in Russian). KYKY.ORG. Retrieved 2019-05-24.
  27. ^ "СК: Задержанный ИТ-бизнесмен обвиняется в получении 650 тысяч долларов от незаконной деятельности" [Investigative Committee: Detained IT-businessman accused of receiving 650 thousand dollars from illegal activities] (in Russian). Tut.By. Archived from the original on 2017-12-22.
  28. ^ "IT-сфера станет мотором белорусской экономики?" [Will the IT industry become the new engine of Belarus economy?] (in Russian). Deutsche Welle. 2018-11-05.
  29. ^ "Посол Великобритании: Арест Прокопени - ужасный знак для экономики Беларуси" [UK Ambassador on Prokopenya’s detainment: ‘It’s a disaster for Belarus economics’] (in Russian). MoyBy. 2015-04-30.
  30. ^ "Финал громкого ИТ-дела: инкриминируемый ущерб возмещен, бизнесмен отпущен из СИЗО" [The final of a high-profile IT case: the incriminated damages are reimbursed, the businessman is released from jail] (in Russian). TUT.by. 2015-12-23. Archived from the original on 2017-12-22.
  31. ^ "Особенности национального давления. Как строятся отношения бизнеса и силовиков в Белоруссии" [Peculiarities of the National Oppression. How business and law enforcement interact in Belarus] (in Russian). Carnegie Moscow Center. 2019-12-25.
  32. ^ "IT-бизнесмен Виктор Прокопеня: "Интеллект — это не вес, который легко измерить и сравнить, это многомерное понятие"" [IT businessman Prokopenya: ‘Intellect is a multilayered concept, it can’t be measured and compared’] (in Russian). The Bolshoi.
  33. ^ Ольга Жерносек (2017-12-27). "Цензура Прокопени. Кто и почему скрывает от нас правду?" [Prokopenya's Censorship: who is hiding the truth from us, and why?] (in Russian). Belsat. Retrieved 2017-12-27.
  34. ^ "История с удалением контента: новые подробности" [Content removal story: new details] (in Russian). UDF.by. 2018-03-13. Archived from the original on 2018-03-18. Retrieved 2017-12-27.
  35. ^ "Задержана главный редактор dev.by" [Dev.by chief editor detained] (in Russian). Reform.by. 2020-09-13. Retrieved 2022-06-26.
  36. ^ "dev.media привлекла инвестиции под новый проект про образование в ИТ" [dev.media raises investments for new IT education project] (in Russian). Dev.by. 2021-09-10. Retrieved 2021-10-07.
  37. ^ "Против директора Dev.by возбудили уголовное дело" [Criminal case opened against Dev.by director] (in Russian). Belsat.eu. 2022-06-26. Retrieved 2022-06-26.
  38. ^ "Виктор Прокопеня: "С середины марта никому руку не жал и пока не планирую"" [Viktor Prokopenya: “Since March I don’t shake hands, and not plannig to”] (in Russian). Belarus partisan. 2020. Retrieved 2021-08-15.
  39. ^ "Currency.com перевела $100 тысяч Минздраву и дала возможность жертвовать крипту" [Currency.com gives Ministry of Health $100,000 and introduces tool to donate cryptocurrencies] (in Russian). dev.by. 2020-03-27.
  40. ^ "Криптобиржа Прокопени выделяет 100 тысяч долларов на реабилитацию пострадавших" [Prokopenya’s cryptocurrency exchange donates $100,000 to rehabilitate victims of the law enforcement violence]. Euroradio. 2020-08-14.
  41. ^ Viačorka, F. (2020-09-02). "Belarus crackdown's next victim: Its booming IT sector". Politico.eu. Retrieved 2021-10-08.
  42. ^ "Криптобиржа Currency.com откроет офис в Вильнюсе" [Currency.com cryptocurrency exchange opens office in Vilnius]. dev.by. 2020-09-08.
  43. ^ McCarthy, Adam Morgan (2022-04-13). "A Belarus-linked crypto exchange says it's stopped trading for Russian clients over the war in Ukraine" (in Russian). Market Insider. Retrieved 2022-04-17.
  44. ^ Armitage, J. (2022-04-17). "Currency.com boss: 'Russia cyberattacked us hours after we quit'". The Sunday Times. Retrieved 2022-04-17.
  45. ^ "Currency.com надає гуманітарну допомогу Україні у розмірі $1 млн" [Currency.com donates $1 mln to Ukraine]. Internet Gate. 2022-03-05. Retrieved 2022-03-08.
  46. ^ "Russian and Belarusian VCs launch international petition "against the bloodshed in Ukraine"". East-West Digital News. 2022-03-16. Retrieved 2022-03-25.
  47. ^ "Signatories of the International VC and Startup Petition Against the Bloodshed in Ukraine". Retrieved 2022-03-25.
  48. ^ a b "Где сегодня живут известные ИТ-бизнесмены из Беларуси и что с их компаниями" [Where prominent IT businessmen from Belarus live today and what about their companies]. dev.by. 2023-02-25.
  49. ^ "В топ-25 выдающихся бизнесменов Беларуси — четверо "айтишников"" [There are four "IT people" in the top 25 outstanding businessmen of Belarus] (in Russian). Devby.io.
  50. ^ "Люди не слова, но дела. Как наградили 12 ярких, не лезущих за словом в карман, бизнесменов". tut.by. 2018-06-28.
  51. ^ "IT-businessman Prokopenya is again the largest payer of income tax in Belarus" (in Russian). Interfax.by. 2017-06-30.
  52. ^ "Виктор Прокопеня награжден StrategEast Westernization Award за разработку IT-законодательства" [Viktor Prokopenya receives StrategEast Westernization Award for IT legislation development] (in Russian). Narodnaja Volya. 2019-03-21. Retrieved 2019-05-24.
  53. ^ "Виктор Прокопеня | Ежедневник" [Viktor Prokopenya] (in Russian). ej.by. Retrieved 2019-05-24.
  54. ^ "Виктор Прокопеня — ТОП 200 успешных и влиятельных бизнесменов Беларуси — 2013" [Viktor Prokopenya — Top 200 of Belarus most successful and influential businessmen — 2013] (in Russian). EJ.by.

External links

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