At the IT Arena conference in Lviv, the official launch of the private venture fund Ukraine Phoenix Tech Fund (UPTF) with capital of €50 million was announced. The initiative was presented by Ukraine’s First Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov, together with Pierre Heilbronn, France’s Special Envoy for Aid and Reconstruction of Ukraine.
The fund is focused on supporting early-stage Ukrainian startups — from pre-seed and MVP to companies with revenues between €250,000 and €1 million and high scaling potential. A mandatory requirement is the presence of a Ukrainian co-founder and a significant team based in Ukraine.
The fund was created in partnership with the Team Europe initiative and aligns with the goals of Ukraine’s economic recovery, digital sector development, and the “Ukraine 2030” strategy.
UPTF plans to invest in 40–50 Ukrainian startups and create about 1,100 new jobs, half of them for women. In addition to initial investments, the fund will also provide follow-on financing for companies showing growth. Startups will receive not only capital but also strategic support, mentoring, and access to international markets.
The managing partners of the fund are Chuck Whitehead and Dominique Piotet, former head of the innovation park UNIT.City. Among the advisors is Dmytro Shymkiv, co-founder of AeroDrone, former Director of Microsoft Ukraine, and ex-Deputy Head of the Presidential Administration of Ukraine.
The establishment of the fund has become one of the most significant steps in the development of venture investment in Ukraine in recent years. Its launch demonstrates the confidence of international partners in the Ukrainian technology market, even during wartime, and creates new opportunities for the development of the country’s innovation ecosystem.
Source: https://inventure.com.ua
