The American venture firm ff Venture Capital is creating a fund to invest in startups whose founders are Ukrainians

US-based VC firm ff Venture Capital (ffVC) is finalising its eighth fund with a target close of $50 mln, and $30 mln already committed, which it will invest solely in startups founded by Ukrainian entrepreneurs.

91% of the country’s founders recently said they were in need of financial support to survive, while nearly half say they need an increase in revenue or new investment over the next three months to continue operating.

FfVC was set up in 2008 in New York; since 2019 it’s had an office in Warsaw too, giving it a foothold in the central and eastern Europe (CEE) region.  FfVC invests mostly in fintech, insurtech, B2B and SaaS companies, which can be scaled easily and fast to the US. With its $50 mln fund for Ukrainian-founded startups, it’s planning to invest in 20 or so companies up to Series A, with tickets ranging from $500 000 to $2.5 mln. Ukrainian startups that would match its portfolio are those that produce software, SaaS and cybersecurity solutions.