
Michael Calvey: The Investor Behind Multiple $20+ Billion Companies
From Fintech Leaders by Miguel Armaza
February 24, 2026 · 1h 8m · Episode 196
About this episode
Miguel Armaza interviews Michael Calvey, a legendary investor in emerging markets, discussing his experiences and successes in Russia.
Send us Fan Mail Miguel Armaza sits down with Michael Calvey, one of the most successful and legendary emerging markets investors of our time. Mike moved to Moscow at age 27 in the early 90s and built Baring Vostok into a powerhouse with $10+ billion invested in Russia. They backed now-decacorns like Yandex, Revolut, Tinkoff, and Kaspi at their earliest stages. Yandex alone was a 450x return for the fund. Along the way, he survived a 98% market crash, was detained by Russia's secret service,...
People in this episode
Host: Miguel Armaza
Guest: Michael Calvey
Topics covered
- emerging markets
- investing
- entrepreneurship
- technology
- success stories
- market challenges
Keywords
- Michael Calvey
- Baring Vostok
- Yandex
- investing
- emerging markets
- decacorns
- Moscow
- market crash
Mentioned in this episode
Organizations: Baring Vostok, Yandex, Revolut, Tinkoff, Kaspi
Places: Russia
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