Ukrainian VC Propels CEE Tech with Landmark €50M Fund
July 14, 2025, 9:38 am
Location: United States, California, San Francisco
Employees: 1001-5000
Founded date: 2010
Total raised: $1.43B
Location: United States, Florida, West Palm Beach
Employees: 11-50
Total raised: $5M
Ukrainian VC firm Flyer One Ventures launched its €50M Fund V. It targets early-stage tech startups across Ukraine and CEE. Backed by IFC and EBRD, this marks a significant milestone. It is the first Ukrainian VC to secure dual support from these international financial institutions. The fund fuels innovation, fosters digital entrepreneurship, and helps retain talent in the region. It signals strong global confidence in CEE tech, despite challenging market conditions. Flyer One Ventures' proven track record includes over 90 investments and two successful exits. This new fund drives global expansion for regional startups. It bolsters economic resilience and attracts further private capital into a dynamic tech ecosystem.
Kyiv-based Flyer One Ventures (F1V) launched a new €50 million fund. Fund V focuses on early-stage technology companies. It targets founders across Ukraine and Central and Eastern Europe (CEE). This move signals strong confidence in the region's burgeoning tech landscape. It is a critical development for European innovation.
The new fund has secured initial backing from major international financial institutions. The European Bank for Reconstruction and Development (EBRD) committed €6.5 million. This commitment may increase to €10 million. The International Finance Corporation (IFC) pledged €5 million. A portion, up to €3 million, comes from Japan's Economic Resilience Action (ERA) Program. These commitments establish Fund V with an initial €11.5 million.
This joint backing is unprecedented. Flyer One Ventures becomes the first Ukrainian venture capital firm supported by both IFC and EBRD. Such institutional endorsement is a powerful signal. It validates F1V's rigorous due diligence and operational quality. It also attracts future limited partners, bolstering fundraising efforts. This partnership elevates Ukraine's standing in global venture capital.
Flyer One Ventures, founded in 2018, possesses a robust track record. It emerged from Genesis, a prominent tech company. The firm is led by General Partner Vital Laptenok, alongside partners Oleksii Yermolenko and Olena Mazhuha. It invests in software startups. Its focus lies on pre-seed and seed stages. F1V typically invests up to €1.5 million per company.
The firm has already deployed substantial capital. It has invested nearly €45 million. This capital supported over 90 startups. These companies aim to solve real-world challenges. They span various critical industries. The previous fund is almost fully invested, demonstrating active deployment.
F1V’s portfolio showcases its strategic investment approach. Notable companies include Fintech Farm. It builds neobanks in emerging markets. Liki24 improves last-mile delivery for health products. Jome offers an AI platform simplifying new home purchases. Mate academy trains individuals for global tech jobs. These examples underscore the fund’s commitment to impactful innovation.
Flyer One Ventures also boasts successful exits. Two portfolio companies achieved significant acquisitions. VOCHI was acquired by Pinterest. Greenscreens joined Triumph Financial. These exits validate F1V's ability to identify and scale high-growth ventures. They demonstrate tangible returns on investment. The first fund's portfolio value increased 3.5 times, proving its investment acumen.
This new fund extends beyond capital infusion. F1V provides hands-on support to its portfolio companies. This includes assistance with marketing, hiring, public relations, business development, and subsequent fundraising rounds. This comprehensive approach helps early-stage startups navigate complex growth phases. It accelerates their global scaling efforts. More than half of F1V's portfolio companies have successfully secured Series A rounds or beyond. This indicates strong post-investment progression.
The new fund plays a crucial role in strengthening Ukraine's digital entrepreneurship. It helps retain talented individuals within the country. It also draws more private investment into Ukraine’s growing technology sector. This is vital for economic resilience and long-term development. The CEE region, particularly Ukraine, possesses abundant tech talent. F1V leverages this talent pool. It empowers founders to build global software companies efficiently.
Fundraising in Ukraine remains challenging. The ongoing conflict creates complexities. Negotiations with potential investors can extend. However, F1V's successful first closing reflects investor confidence. It highlights the potential within the Ukrainian tech ecosystem, even amidst adversity. The participation of global financial institutions reinforces this positive outlook. It signals a robust future for regional tech investment.
Flyer One Ventures plans to invest in 30-35 startups. This will occur over the next 5-7 years. The firm aims to reach the full €50 million fund size by late 2025. Preliminary agreements are in place with new and existing investors. The final closing typically takes 12-18 months. This timeline demonstrates aggressive fundraising targets.
The launch of Fund V marks a pivotal moment. It secures significant international backing for Ukrainian venture capital. It channels crucial investment into CEE's early-stage tech sector. This fund fuels innovation. It fosters job creation. It drives economic growth across the region. Flyer One Ventures leads this charge. It builds a foundation for the next wave of global tech leaders from Ukraine and CEE.
Kyiv-based Flyer One Ventures (F1V) launched a new €50 million fund. Fund V focuses on early-stage technology companies. It targets founders across Ukraine and Central and Eastern Europe (CEE). This move signals strong confidence in the region's burgeoning tech landscape. It is a critical development for European innovation.
The new fund has secured initial backing from major international financial institutions. The European Bank for Reconstruction and Development (EBRD) committed €6.5 million. This commitment may increase to €10 million. The International Finance Corporation (IFC) pledged €5 million. A portion, up to €3 million, comes from Japan's Economic Resilience Action (ERA) Program. These commitments establish Fund V with an initial €11.5 million.
This joint backing is unprecedented. Flyer One Ventures becomes the first Ukrainian venture capital firm supported by both IFC and EBRD. Such institutional endorsement is a powerful signal. It validates F1V's rigorous due diligence and operational quality. It also attracts future limited partners, bolstering fundraising efforts. This partnership elevates Ukraine's standing in global venture capital.
Flyer One Ventures, founded in 2018, possesses a robust track record. It emerged from Genesis, a prominent tech company. The firm is led by General Partner Vital Laptenok, alongside partners Oleksii Yermolenko and Olena Mazhuha. It invests in software startups. Its focus lies on pre-seed and seed stages. F1V typically invests up to €1.5 million per company.
The firm has already deployed substantial capital. It has invested nearly €45 million. This capital supported over 90 startups. These companies aim to solve real-world challenges. They span various critical industries. The previous fund is almost fully invested, demonstrating active deployment.
F1V’s portfolio showcases its strategic investment approach. Notable companies include Fintech Farm. It builds neobanks in emerging markets. Liki24 improves last-mile delivery for health products. Jome offers an AI platform simplifying new home purchases. Mate academy trains individuals for global tech jobs. These examples underscore the fund’s commitment to impactful innovation.
Flyer One Ventures also boasts successful exits. Two portfolio companies achieved significant acquisitions. VOCHI was acquired by Pinterest. Greenscreens joined Triumph Financial. These exits validate F1V's ability to identify and scale high-growth ventures. They demonstrate tangible returns on investment. The first fund's portfolio value increased 3.5 times, proving its investment acumen.
This new fund extends beyond capital infusion. F1V provides hands-on support to its portfolio companies. This includes assistance with marketing, hiring, public relations, business development, and subsequent fundraising rounds. This comprehensive approach helps early-stage startups navigate complex growth phases. It accelerates their global scaling efforts. More than half of F1V's portfolio companies have successfully secured Series A rounds or beyond. This indicates strong post-investment progression.
The new fund plays a crucial role in strengthening Ukraine's digital entrepreneurship. It helps retain talented individuals within the country. It also draws more private investment into Ukraine’s growing technology sector. This is vital for economic resilience and long-term development. The CEE region, particularly Ukraine, possesses abundant tech talent. F1V leverages this talent pool. It empowers founders to build global software companies efficiently.
Fundraising in Ukraine remains challenging. The ongoing conflict creates complexities. Negotiations with potential investors can extend. However, F1V's successful first closing reflects investor confidence. It highlights the potential within the Ukrainian tech ecosystem, even amidst adversity. The participation of global financial institutions reinforces this positive outlook. It signals a robust future for regional tech investment.
Flyer One Ventures plans to invest in 30-35 startups. This will occur over the next 5-7 years. The firm aims to reach the full €50 million fund size by late 2025. Preliminary agreements are in place with new and existing investors. The final closing typically takes 12-18 months. This timeline demonstrates aggressive fundraising targets.
The launch of Fund V marks a pivotal moment. It secures significant international backing for Ukrainian venture capital. It channels crucial investment into CEE's early-stage tech sector. This fund fuels innovation. It fosters job creation. It drives economic growth across the region. Flyer One Ventures leads this charge. It builds a foundation for the next wave of global tech leaders from Ukraine and CEE.