From Armenia to Glendale: SmartGateVC’s Galstyan Shapes LA’s New Tech Hub

SmartGateVC, an early-stage venture capital firm focused on AI and deep tech, has been quietly building Glendale’s startup ecosystem since 2021. 

Now, with official recognition from the City of Glendale as a key operator to drive tech innovation in the region, the firm is stepping into the spotlight, building on its track record of supporting over 3,000 beneficiaries through its Hero House tech hub.

The firm’s momentum continues to build, with SmartGateVC recently being awarded a portion of a $1 million grant from the City of Glendale, funded by the Governor’s Office of Business and Economic Development (Go-BIZ). Announced on October 18, 2024, the grant will be shared with FoundersBoost Collaborative to provide tech startup growth programs in the city. SmartGateVC’s “Venture Building Program” will focus on bridging the gap between research and business communities by connecting university researchers with industry experts. The grant follows a competitive selection process that drew 17 proposals, marking Glendale’s second major investment in tech accelerators since 2019.

“They were able to demonstrate a track record of success and presented unique proposals that targeted different needs of the Glendale ecosystem and stages of growth for startups,” said Soua Vang, Glendale Deputy Director of Economic Development. “We look forward to seeing how they will help us to further shape the tech industry in Glendale.”

SmartGateVC, which began investing in AI companies in 2017, has fully deployed its first fund and is currently investing from its second fund, writing checks between $100,000 to $1 million. 

During this year’s Glendale Tech Week last month, SmartGateVC hosted two major events: a Demo Day featuring top Los Angeles tech companies pitching to VC investors, and an AI and cybersecurity panel that brought together executives from Oracle, FBI, and other major organizations. The events attracted over 600 attendees, highlighting Glendale’s growing prominence in the regional tech ecosystem, while the overall Tech Week drew over 3,000 attendees across 22 events—a significant increase from last year when the Demo Day alone grew from 100 to more than 200 participants.

“Glendale has a few key advantages as a city,” says Armine Galstyan, Principal at SmartGateVC, in an interview with Icebreaker. “It’s one of the nicest and cleanest cities in LA County, it’s well-positioned with a 20-minute drive from Burbank airport, making it close to San Francisco, and it’s in the middle of three major universities including Caltech,” she notes.

The firm’s investment thesis focuses on three main areas: AI and brains, AI in the physical world (including navigation and robotics), and AI security. 

While SmartGateVC is a US-based fund primarily investing in US-incorporated companies, it leverages strong connections to global tech talent, particularly in Armenia, where major tech companies like Cisco, Oracle, and Synopsys have significant presence and development offices.

Born in a small Armenian village, Galstyan’s journey to venture capital began during her sophomore year at the American University of Armenia, where she met SmartGateVC’s partners while working on her own startup. She helped build the fund’s community in Armenia before moving to Los Angeles to run US operations.

Looking ahead, SmartGateVC aims to position Glendale as a leading destination for high-growth ventures, particularly in AI, Cybersecurity, and IoT. The initiative has received support from Senator Anthony Portantino and city leadership, including the Glendale City Council.

“We’re committed to positioning Glendale as a leading destination for high-growth potential ventures,” says Galstyan. “This achievement belongs to the entire Glendale tech community, and we’re grateful for the city’s leadership and trust in our vision.”

The firm’s selection as a city operator marks a significant milestone in Glendale’s evolution as a tech hub, building on the presence of successful companies like ServiceTitan, a multi-billion-dollar business headquartered in the city.

The firm, which established its Glendale operations in 2021, manages a 7,000-square-foot entrepreneurship hub called Hero House, which has become a focal point for the local tech ecosystem. 

“Hero House is this community-like incubator space where founders hang out, where we host tech meetups and get-togethers,” says Galstyan.

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