Under Majgaard, the company founded the BrainBasket Foundation to further IT education

Under Majgaard, the company founded the BrainBasket Foundation to further IT education across Ukraine. Ciklum also supported Ukraine House in Davos and Ukrainian Venture Capital and Private Equity Association. In 2015, George Soros invested in Ciklum. At Majgaard’s death, he owned the company 50-50 with Soros, Karl Robb, a longtime friend, tells the Kyiv Post. Eighteen months ago, Majgaard ceded the Ciklum CEO role to Michael Boustridge. On Friday, Boustridge emailed employees: “Torben was incredibly proud of what we achieved, and, personally, I will miss working with him.”