David Amaryan is the Founder and Chief Executive Officer of Balchug Capital, a leading Armenian investment firm. An entrepreneur and philanthropist, he has established Balchug as a trusted investment partner for global corporations executing complex transactions across the region and in international emerging markets. Today, Balchug’s portfolio spans landmark assets in real estate, banking, and manufacturing and has AUM of over $2 billion.
David began his career on Wall Street before moving into investment banking in Moscow, gaining deep expertise across U.S. and CIS markets. His disciplined approach and commitment to rigorous compliance with local and international regulations have positioned Balchug as a credible intermediary for cross-border transactions. Under his leadership, the firm has evolved from event-driven and value investing in liquid emerging market securities to a private equity strategy focused on real assets. Prior to founding Balchug, David was at AllianceBernstein, Citigroup, and Troika Dialog.
Through Balchug, David has successfully engaged U.S. financial institutions,...David Amaryan is the Founder and Chief Executive Officer of Balchug Capital, a leading Armenian investment firm. An entrepreneur and philanthropist, he has established Balchug as a trusted investment partner for global corporations executing complex transactions across the region and in international emerging markets. Today, Balchug’s portfolio spans landmark assets in real estate, banking, and manufacturing and has AUM of over $2 billion.
David began his career on Wall Street before moving into investment banking in Moscow, gaining deep expertise across U.S. and CIS markets. His disciplined approach and commitment to rigorous compliance with local and international regulations have positioned Balchug as a credible intermediary for cross-border transactions. Under his leadership, the firm has evolved from event-driven and value investing in liquid emerging market securities to a private equity strategy focused on real assets. Prior to founding Balchug, David was at AllianceBernstein, Citigroup, and Troika Dialog.
Through Balchug, David has successfully engaged U.S. financial institutions, high-profile funds, and international banks, earning recognition as one of the leading figures in the regional and international investment landscape.
Beyond business, David co-founded the Amaryan Charitable Foundation with his brother Vardan in 2023. The Foundation supports initiatives in Armenia across education, youth development, humanitarian relief, sports, and culture.
A lifelong martial artist, David has competed in professional jiu-jitsu and founded Checkmat Academy in Moscow.
He holds a BSc in Finance and International Business from Miami University.READ MOREVIEW LESS
Balchug Capital is an international investment firm headquartered in Armenia. Originally a hedge fund operating in emerging markets, Balchug is looking at a broader geographic expansion of its private equity drive.
David and his brother, Vardan Amaryan, founded the Amaryan Charitable Foundation to support initiatives in education, culture, sports and youth development in Armenia.
Carl Flesch's admired work "The Art of Violin Playing" is set to be published in the Armenian language for the first time, made possible through the generous contributions of the Amaryan Charitable Foundation, Apricot Capital, and Balchug Capital.
Armenians who were forcibly displaced from Artsakh and accommodated in the Syunik region, along with socially disadvantaged people from the area, became the first beneficiaries of the Amaryan Charitable Foundation. The Foundation's provisional budget for initiatives was set at 122 million AMD, to be used in Syunik in 2023-2024.
The Amaryan Charitable Foundation has donated 18 million AMD to the Senior Center program to purchase a building in Goris, Syunik region, to ensure the well-being of displaced elderly people who do not have family support.
Russian President Vladimir Putin signed a decree to allow the Armenian investment fund, Balchug Capital, to acquire the Russian subsidiary of US investment bank Goldman Sachs.
David Amaryan speaks to Armenpress about his personal journey and what motivated him and his brother, Vardan, to establish the Amaryan Charitable Foundation to support education and humanitarian projects in Armenia.
Balchug Capital has welcomed Michael Parker, an expert in US sanctions and anti-money laundering (AML) compliance, to serve as Counsel to the firm's Global Advisory Board.
Armenian investment management firm Balchug Capital has announced the launch of a Global Advisory Board, which will include trusted industry leaders like American ethics-enforcement official, Robert H. Tembeckjian.
