AR Ventures introduces IPO boutique for startup founders who want small-cap and micro-cap listings without losing control

“Founders are told the only path is round after round of VC and a distant exit,” said Alexander Rugaev, founder of AR Ventures. “That story is outdated. In many cases, a small-cap IPO or micro-cap IPO can deliver more capital, better valuation and real liquidity – while the founder keeps the steering wheel of the company.”

Why this matters

The classic startup path—multiple VC rounds followed by a late IPO—doesn’t fit many modern companies:

• Founders face heavy dilution and complex governance before they ever reach public markets.
• Profitable or near-profitable startups are often “too small” for mega-funds, even with strong revenue and real customers.
• Many teams want liquidity and global credibility earlier, without handing over the steering wheel.

AR Ventures’ new small-cap IPO consulting practice is built for these founders: companies with real businesses that want to list earlier, raise meaningful capital, and still own the majority of their voting power.

“The idea that you must burn cash for a decade and give up control before going public is outdated,” said Alexander Rugaev, founder of AR Ventures. “With the right structure, a small-cap IPO or micro-cap IPO can deliver capital, liquidity and credibility—while the founder keeps the mission and the vote.”

Who this IPO consulting is for

The service is designed for founder-led technology companies that:

• Typically fall in the $5–100M annual revenue range with clear growth visibility
• Operate in high-trust, high-regulation sectors like AI, robotics, fintech, infrastructure or industrial tech
• Are considering a small-cap or micro-cap listing (e.g., NYSE American or comparable markets) as an alternative to another VC round

For these startups, AR Ventures acts as a founder-side capital markets partner, not a fund: there is no equity to sell to AR Ventures and no board seat to give away.

What AR Ventures offers

AR Ventures provides end-to-end, IPO-ready support that mirrors how leading AI companies structure their launches—focused, data-driven and built around real users.

Go-public strategy

• IPO vs VC vs direct listing analysis – Evaluate whether a small-cap IPO, micro-cap IPO or direct listing creates more long-term value than a traditional equity round.
• Jurisdiction and structure design – Choose the right holding company, listing venue and share structure to preserve 60–80% founder voting power, where feasible under local rules.

Listing and execution

• Exchange and small-cap board selection – Map out listing options, minimum requirements, auditor standards and realistic valuation bands.
• Equity story and materials – Build a compelling IPO narrative, investor deck and financial model that speak the language of public-market investors.
• Deal team coordination – Work directly with underwriters, law firms, auditors and IR partners to keep the process aligned with founder interests.

Life after the IPO

• Public-company discipline – Help founders navigate disclosure, guidance and investor communication from day one.
• Using stock as a strategic asset – Support M&A planning and partnership strategies that use listed shares as acquisition currency, not just a line on a cap table.

Rethinking small-cap and micro-cap IPOs

Public markets have quietly become far more accessible for high-quality smaller issuers. For the right company, a small-cap or micro-cap listing can:

• Unlock higher valuation multiples than late-stage private rounds in many tech verticals
• Provide earlier liquidity for founders and early backers
• Open access to institutional, family-office and sovereign investors who rarely join small private deals
• Strengthen trust with enterprise and government clients, who often prefer working with transparent, regulated public companies

AR Ventures’ thesis is that an increasing number of “real economy” AI, robotics, fintech and SaaS startups are better served by public markets sooner—if they are structured correctly from the start.

Founder-first by design

The new consulting service is built around a principle that OpenAI and xAI also emphasize in their own way: alignment. In AR Ventures’ case, that alignment is with the founder.

“Control is an asset, not a rounding error,” said Rugaev. “We want founders to look at the IPO path and see a third option: raise serious capital, become a public company, and still be the ones defining the product roadmap and culture.”

AR Ventures primarily works with companies from MENA, Europe and Asia, and can support cross-border and dual-jurisdiction structures where they make strategic sense.

Getting started

Founders and investors who want to explore a small-cap IPO, micro-cap IPO or direct listing of shares with AR Ventures can request an initial consultation here:

About AR Ventures

AR Ventures is a Dubai-based advisory firm focused on IPO consulting, capital markets strategy and growth advisory for technology companies. The firm specializes in helping AI, robotics, fintech and SaaS startups access global capital markets through small-cap and micro-cap IPOs, direct listings and innovative financing structures. AR Ventures acts exclusively as a founder-side advisor, working with leading law firms, auditors, underwriters and investor-relations partners worldwide.

Learn more at https://arventures.io.

About Alexander Rugaev

Alexander Rugaev is an entrepreneur and venture capitalist with deep experience across startups, AI, robotics and public markets. Based in Dubai, he advises founders on IPO readiness, capital raising and international expansion, with a focus on minimizing dilution and preserving founder control. Rugaev regularly shares analysis on the future of AI, robotics and capital markets at https://rugaev.com and on LinkedIn at https://www.linkedin.com/in/alexrugaev/.

Media Contact

Email: [email protected]

Media Contact

Vera Muller, AR Ventures, 971 585078118, [email protected], https://arventures.io

SOURCE AR Ventures