Born in 1962, Petrov is a former Beret from the Special Counter-Terrorism Squad. After leaving the berets, he turned to private business. He is known as the owner of insurance companies, including being the founder of the insurance company "Apollo and Balkan" from the 1990s. He was a defendant in the case against the criminal group "Octopus", engaged in racketeering and extortion, but was subsequently acquitted.

Petrov was also an adviser to the chairman of the State Agency for National Security in 2008-2009, and for some time he was also a university lecturer at the University for National and World Economy.

On August 14, 2002, an unsuccessful assassination attempt was carried out against Alexey Petrov, in which he was shot in the chest and leg. On October 29, 2015, another failed grenade launcher attack was carried out against him.