About Us

The Fund

Established in 2016, Keystone Investments is an investment holding focusing on Georgia and CIS. The holding provides growth capital and expertise to medium and large enterprises operating in the fast-growing sectors of the economy. Our investment portfolio includes businesses operating within retail, construction and FMCG sectors.

Our Approach

Keystone Investments seeks to identify promising businesses with strong management teams and sound business models operating in rapidly growing segments of the economy. Our industry expertise and collaboration with international leading industry experts help our partner enterprises to better capture strategic opportunities and unlock value of their businesses. We pay great attention to nurturing the financial discipline and entrepreneurship culture in our investees to institutionalize the businesses. Keystone Investments takes a sector agnostic approach to investing and has invested both in brown field and green field projects.

Our Team

Temur Anchabadze – Partner

Mr. Temur Anchabadze established Keystone Investments together with George Pertaia in 2016. In 1992, Mr. Anchabadze received a bachelor’s degree from St. Petersburg State University of Economics. He has invested into different ares of Georgian markets, as well as, starting ventures of his own.

Giorgi Pertaia – Partner

Giorgi Pertaia together with Temur Anchabadze established “Keystone Investments” where he held the position of Managing Partner in Keystone Investments until 2019. Since 2019, Mr. Pertaia serves as a president of the Chamber of Commerce and Industry. For many years, Mr. Pertaia headed different governmental agencies. In 2012-2016 he worked as the head of the National Investment Agency of Georgia. During his time, Georgia attracted strategic investors in the country such as the Tata Group, Henkel, K-Water, etc. From 2011 to 2012, Mr. Pertaia served as the Business Ombudsman of Georgia. From 2010 to 2011, Mr. Pertaia was the chief adviser to the Prime Minister of Georgia. Prior to returning to Georgia, Mr. Pertaia worked at a consulting firm Buzz Allen Hamilton, where he also worked on projects in the South Caucasus. In 2009, he received a master’s degree (MBA) from the University of Western Illinois. At the beginning of his career, he held various senior positions in the Ministry of Finance and in the American Chamber of Commerce (AmCham).

Bachana Shengelia – Chief Executive Officer

Bachana Shengelia joined Keystone Investments in May 2023 and serves as a CEO of the holding since July 2023.
Prior to joining Keystone Investments, Mr. Shengelia worked at Galt & Taggart, the leading investment bank in Georgia, over 2017-2023 years. He served as a Head of Sector Research at the company, overseeing a team of sector analysts, covering consulting projects and investment research of all major sectors of the Georgian economy.
Mr. Shengelia was a visiting lecturer of Strategic Management at Business and Technology University in 2021. He also worked at TBSC consulting as a Senior Business consultant over 2016-2017 years and as a Portfolio Manager / Researcher at Georgian National Investment Agency (now Enterprise Georgia) over 2015-2017 years. Additionally, Mr. Shengelia worked as a Business Development Manager at Master Group over 2012-2013 years.
Bachana Shengelia graduated from the Business Strategy Certification Program of Cornell University in 2022. He also holds BBA (2013) and MBA degrees (2016) from Tbilisi State University. He was also a master’s degree exchange student at University of Warsaw during 2014-2015 years.

Vazha Kopadze – Chief Investment Officer

Mr. Vazha Kopadze has more than 10 years of experience in Budgeting and Financial analysis. From 2013 he worked for 2 years as a budgeting and controlling officer at JSC Aldagi and more than a year as a budgeting and strategic planning manager at TBC Bank. Later, Mr. Kopadze was promoted to the head of the budgeting and strategic planning department and was responsible for the whole budgeting process. From 2018 for more than 1.5 years, he was the Investor Relations and Debt Capital Market Senior Manager at Liberty Bank. Therefore, he was responsible for entire due diligence procedures and preparing relevant reports for IFIs and Credit Rating Agencies. From 2019, Vazha worked as Chief Investment Officer at Fulcrum Holding. As for now, Mr. Kopadze holds the Chief Investment Officer position at Keystone Investments. He is responsible for project evaluation, opportunity assessment, financial reporting, and effective stakeholder communication.
Vazha Kopadze has completed the BBA program at Caucasus University with honors. Additionally, Mr. Kopadze has earned CFA, FRM, and CAIA designations.

Keystone Investment, 2020


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