Ruslan Tymofieiev (Ruslan Timofeev) from Adventures Lab: IT officies are new art galleries
Nov 29, 2021
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Founders of IT startups invest in artworks and turn offices of their companies into art galleries literally. Suffice it to say, founders of such giants as Microsoft and Netscape spent millions of dollars on pieces of art. Ruslan Tymofieiev (Ruslan Timofeev), the founder of venture fund Adventurеs Lab, supports this tendency and collects paintings created by Ukrainian and foreign artists.
Ruslan Tymofieiev is well known for his investments in such profitable startups as Reface, EduDo, and SALO. The investor is interested not only in promising businesses but also in Ukrainian contemporary art. According to Tymofieiev, this is his contribution to the development of national art and its representation on the global scene. For instance, an exhibition dedicated to Ukrainian art of the 1980-1990th was shown at the Zimmerli Art Museum in New Jersey in November 2021. The exhibition consisted of artworks from Tymofieiev`s collection.
The tendency to invest in works of art began in the 20th century when reach people (such as financiers, industrialists, or bankers) started to build up collections of paintings, sculptures, rare books, icons, etc. For example, Steve Cohen, a known trader from the USA, became an owner of paintings by Picasso, Andy Warhol, and other world-known artists. Is it any wonder, founders of the biggest IT startups invest in art today?
Recalls the advice of Michael Ovitz, the most powerful talent manager in Hollywood, given to Marc Andreessen: “Books, paintings, and glassware give the company credibility.” Ruslan is convinced that investment in art is a way to build his social capital. He remembers a case when a business deal has been closed thanks to art: “Once I came to meet a famous Ukrainian businessman at his office. In the office of that man, I saw a gallery of paintings. So, I could not resist talking about it. Eventually, it helped me quickly find a common language and approach,” he says.
The investor notes that collectors track news about the owners of the masterpieces: who sells and who buys them, what is the value and actual price of the piece of art.
The reason to turn offices into galleries is to provide a better vibe to employees that, according to recruiters and HR specialists, appreciate working in the open spaces decorated with paintings. Adventures Lab office is divided into zones with different atmospheres: one is decorated with the image of athletes from the Ultra C series by Victor Sydorenko, another – with pieces of funky pop-art. Other great examples of the “art office” that can be found in Kyiv are SupportYourApp office and coworking space Kooperativ. Their owners invest hundreds of thousands of dollars to decorate these spaces with famous paintings.
Ruslan Tymofieiev (Ruslan Timofeev) says that Giving While Living trend is appealing to him, and he prefers to spend money on sustaining viable initiatives. In addition, he compares this type of investment with the investment in startups giving preferences to the young artists: “It's nice to see how the capitalization of the startup/painting is growing. I believe this is the best combination of a pragmatic approach with aesthetics.”
There are more reasons to place paintings in the offices, the investor continues. This is the way to introduce Ukrainian art to foreign partners, to initiate small talks among people visiting the place, to increase the recognizability of these works and their value as a result.