Ukrainian VC Flyer One Ventures broadcasts €50 million to assist startups throughout CEE

Kyiv-based VC agency Flyer One Ventures (F1V) has introduced a brand new €50 million fund backed by the Worldwide Finance Company (IFC) and the European Financial institution for Reconstruction and Improvement (EBRD).

The brand new Fund V will give attention to supporting early-stage tech firms from Ukraine and throughout Central and Jap Europe (CEE).

“Founders throughout CEE – and Ukrainians specifically – have already proven they will construct world-class merchandise beneath the toughest circumstances,” says F1V Co-founder and companion Oleksii Yermolenko. “With this new fund we are able to double-down on the following wave and assist them scale globally sooner.”

Based in 2018, F1V is led by Common Associate Important Laptenok, who additionally Co-founded tech firm Genesis, alongside companions Oleksii Yermolenko and Olena Mazhuha.

F1V is an early-stage agency led and backed by entrepreneurs. It companions with bold CEE and Ukrainian Founders who construct international software program firms in a “lean approach“, leveraging the plentiful tech expertise from the area.

The VC agency invests as much as €1.2 million in software program startups at pre-Seed and Seed levels. So far, it has invested practically €38 million throughout greater than 90 startups that clear up real-world challenges in key industries.

Its portfolio consists of Fintech Farm, which builds neobanks in rising markets, Liki24, which improves last-mile supply of well being merchandise, Jome, an AI platform that simplifies shopping for new properties, and Mate academy, which trains folks in tech for international jobs.

The Ukrainian VC agency has already seen two exits: VOCHI (acquired by Pinterest) and Greenscreens (acquired by Triumph Monetary).

“We’re proud to assist F1V’s new fund and, in doing so, assist native Founders flip their concepts into actuality. This partnership will assist promising firms to take the following step – and that’s precisely what innovation wants. It’s what the entire area wants,” EBRD Vice President, banking Matteo Patrone.

EBRD and IFC have already dedicated €6.5 million (to be probably elevated to €10 million at a later date) and €5 million respectively to the primary closing of Fund V. IFC’s dedication consists of as much as €2.5 million from Japan by means of IFC’s Financial Resilience Motion (ERA) Programme.

“We’re the primary Ukrainian VC supported by each IFC and EBRD. It’s a giant accountability, and a fair larger honor,” provides Yermolenko.

Past capital, F1V gives hands-on assist in advertising, hiring, PR, enterprise improvement, and fundraising. Whereas the fund invests in early-stage firms, greater than half of its portfolio firms have already efficiently raised Sequence A rounds and past.

“Our funding in F1V’s new fund is a vital step in supporting Ukraine’s digital entrepreneurship,” says Ines Rocha, IFC’s division director for Europe. “By strengthening the native enterprise capital market, we hope to assist hold gifted folks in Ukraine and draw extra personal funding into its rising expertise sector.”