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 Growth (EBRD).
The brand new Fund V will concentrate on supporting early-stage tech firms from Ukraine and throughout Central and Japanese Europe (CEE).
“Founders throughout CEE – and Ukrainians particularly – have already proven they’ll construct world-class merchandise underneath the toughest situations,” says F1V Co-founder and accomplice Oleksii Yermolenko. “With this new fund we will double-down on the subsequent wave and assist them scale globally quicker.”
Based in 2018, F1V is led by Basic Companion Very 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 formidable CEE and Ukrainian Founders who construct world software program firms in a “lean means“, 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 almost €38 million throughout greater than 90 startups that resolve 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 houses, and Mate academy, which trains individuals in tech for world jobs.
The Ukrainian VC agency has already seen two exits: VOCHI (acquired by Pinterest) and Greenscreens (acquired by Triumph Monetary).
“We’re proud to help 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 subsequent 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 doubtlessly 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 way of IFC’s Financial Resilience Motion (ERA) Programme.
“We’re the primary Ukrainian VC supported by each IFC and EBRD. It’s an enormous accountability, and a good larger honor,” provides Yermolenko.
Past capital, F1V offers hands-on help in advertising and marketing, 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 Collection 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 individuals in Ukraine and draw extra non-public funding into its rising know-how sector.”
