Balchug Capital 2023

Leading emerging

markets event-driven and value specialists

Who we are

Balchug Capital is an investment firm headquartered in Yerevan, Armenia. It was founded in 2010 by David Amaryan, who serves as Chief Executive Officer and oversees all investment activity.

Balchug specializes in long/short event-driven and value liquid strategies and private equity investments.

What we do

In our liquid strategies our approach is active management, with concentrated, high conviction portfolios.

In private equity strategies we seek high quality assets that are undervalued and/or distressed due to corporate, geopolitical or other events and shocks.

While our strategies are adapted to each market, discipline is at core of our approach, which is standardized and based on clear guidelines. Deep local knowledge, high quality internal research and absolute compliance with the strategy and risk management guidelines offer our investors stable, risk adjusted, uncorrelated returns.

News & views

Corporate Social Responsibility

At Balchug Capital, we believe in giving back to the community and fostering positive change. Our Corporate Social Responsibility (CSR) efforts are channeled through the Amaryan Charitable Foundation, established by our CEO, David Amaryan, and his brother, Vardan Amaryan.

The foundation is dedicated to empowering individuals and communities through initiatives in:

  • Education
  • Sports
  • Culture
  • Youth Development

We believe in the power of community and the potential of every individual. Discover how the Amaryan Charitable Foundation is making a difference in Armenia by supporting impactful initiatives in these key areas. For more information about the foundation and its projects, please visit their social media page.


Yerevan 0010, Vazgen Sargsyan Street 10, Piazza Grande Business Center