**Ukraine’s Tech Scene Gets a $58 Million Boost**
In a significant move for Ukraine’s tech industry, Flyer One Ventures has announced the first closing of its new 50 million euros ($58.5 million) fund, Fund V. This fund is backed by two major international financial institutions: the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). This partnership marks a significant milestone for Ukraine’s venture capital scene.
**Supporting Tech Startups Across Europe**
The new fund will support early-stage technology companies not only in Ukraine but also across central and eastern Europe. Flyer One Ventures, led by General Partner Vital Laptenok, plans to invest up to $1.5 million in software startups at pre-seed and seed stages. This is a significant step towards promoting innovation and growth in the region.
**A Partnership for Growth**
The IFC has committed 6.5 million euros ($7 million) to this fund, with an option to increase it to 10 million euros (approximately $10.8 million). The International Finance Corporation’s contribution also includes up to $3 million from Japan through its Economic Resilience Action Program. This partnership will enable Flyer One Ventures to provide even more support to startups in the region.
**A Track Record of Success**
Flyer One Ventures has already made a significant impact since its establishment in 2018. The firm has invested nearly $45 million across over 90 startups, including companies like Fintech Farm and Mate Academy. This experience and expertise will be invaluable as they work with new companies through Fund V.
**A Bright Future for Ukrainian Tech**
The successful exits of companies like Vochi and Greenscreens demonstrate the potential for tech startups in Ukraine to achieve global success. With this new fund, Flyer One Ventures is poised to make an even greater impact on the industry. This news is a testament to the growth and resilience of Ukraine’s tech scene.
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