Former Parimatch CEO Leaves Management Role to Launch SP Ventures

^{Sergey Portnov, founder of SP Ventures and former Parimatch CEO}

Sergey Portnov is stepping back from the management of gaming company Parimatch and launching investment and consulting firm SP Ventures. Fortune reports.

At the same time, Parimatch is restructuring its business operations. The company is transferring management of individual markets to local operating partners.

The terms of these agreements have not been disclosed. For the remaining assets, operational control is expected to be transferred to a fund or trust.

The Parimatch brand was founded in Kyiv in 1994 by Eduard Shvindlerman and Tatiana Belorusskaya. The company started with retail betting shops before expanding into online operations and becoming an international operator. Over the years, Parimatch operated across Europe, Asia, Africa and the CIS markets. In 2022, the company announced its withdrawal from the Russian market, while in 2023 its Ukrainian division was placed under sanctions.

Portnov has been associated with the development of the Parimatch brand for more than a decade. Born and raised in Kyiv, he studied in the UK before joining Parimatch in the early 2010s, where he focused on marketing and digital development. From 2015 to 2021, he served as the company’s CEO before joining the supervisory board. Forbes Ukraine also reported that Portnov played poker professionally and practiced Muay Thai.

In 2024, Portnov gained full control of Parimatch after acquiring the stake held by Kateryna Belorusska and shares owned by minority shareholders.

Following his departure from Parimatch’s operational management, Portnov will focus on SP Ventures as its founder and chairman. The firm will work with companies in technology, education and other sectors, receiving equity stakes in businesses instead of traditional consulting fees. SP Ventures’ first investment project is Trinity Private School, a private school in Cyprus.