In September 2025, a new venture fund, Ukraine Phoenix Tech Fund, will emerge with the amount of €50 million, providing investment and support to early-stage startups.
Ukraine is preparing to launch the first venture fund, Ukraine Phoenix Tech Fund (UPTF), financed by institutional investors in the amount of €50 million. This fund will focus on investing in early-stage startups with annual revenue up to €1 million, and will also provide strategic support and access to an international network of partners. Among the fund’s partners are the European Investment Bank (EIB), French institutions Bpifrance, Proparco, and Parrot founder Henri Seydoux.
According to Christina Mikulova, head of the EIB Regional Representation for Eastern Europe, UPTF is nearing the so-called first closing, when investors legally secure their initial commitments, and the fund is ready to start its operations. This will soon enable UPTF to make its first investments.
The appearance of UPTF is a significant milestone in the development of venture capital in Ukraine. It is the first fund supported by significant international institutional investors that will operate according to international standards. The fund’s team will include leading specialists with experience in the startup ecosystem and venture investments, including EO Business Incubators co-founder Chuck Witheed and UNIT.City CEO Dominique Piotet.
The fund will adhere to a universal investment strategy, focusing on areas such as FinTech, SaaS, Blockchain, MedTech, AgroTech, and Hardware. Investment restrictions will comply with EU policies and legislation.
Ukraine is in a challenging situation due to the war, which affects the venture market. However, the long-term goal of the fund is to create a structured and transparent investment environment that will be attractive to large institutional investors. Proper corporate governance, transparent reporting, and international standards can increase trust in Ukraine’s private technology sector.
| Investor | Investment Amount (€ million) |
|---|---|
| European Investment Bank | 15 |
| Bpifrance | 10 |
| Proparco | 5 |
| Henri Seydoux | 2.5 |
