A new venture fund for Ukrainian innovation
Ukraine has launched a new €50 million venture capital initiative — the Ukraine Phoenix Tech Fund, created with the support of the European Investment Bank (EIB). The fund will provide Ukrainian startups with access to early-stage capital, mentorship, and international networks.
The launch was announced by First Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov during a joint event with Pierre Elbron, France’s Special Envoy for Aid and Reconstruction of Ukraine.
Trust in Ukraine’s tech ecosystem
Fedorov emphasized that even under the conditions of a full-scale war, Ukrainian startups continue to innovate and compete globally.
“Our task is to support their development and create an ecosystem attractive to foreign investors. The launch of the Ukraine Phoenix Tech Fund with €50 million is an important signal of trust in Ukraine in the global market,”
Fedorov said.
The fund is expected to strengthen investor confidence, attract foreign capital, and help Ukrainian startups scale internationally.
Strategic support for startups
The Ukraine Phoenix Tech Fund aims to:
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provide early-stage financing for technology companies,
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offer strategic guidance and mentorship,
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connect Ukrainian teams with international partners and investors,
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enhance the global competitiveness of the Ukrainian startup ecosystem.
The initiative is part of a wider effort to ensure Ukrainian technology firms become leaders in innovation, despite wartime challenges.
Complementary programs: Startup EDGE
Alongside the fund, Ukraine continues to expand grant programs for early-stage teams.
At IT Arena 2025, Fedorov announced the launch of Startup EDGE, a €1 million program supporting innovative teams at the earliest stages.
He highlighted that UFS has become the largest angel investor in Ukraine, having already provided 470 startups with grants totaling 380 million UAH.
“The new €1 million program is another investment in the development of entrepreneurship and technology in Ukraine,”
Fedorov explained.
Key takeaway
The launch of the Ukraine Phoenix Tech Fund marks a new milestone in strengthening Ukraine’s startup ecosystem. Backed by European partners, the €50 million initiative is designed not only to provide funding but also to integrate Ukrainian startups into global markets, helping them survive and thrive during wartime reconstruction.
