Minister of Digital Transformation Mykhailo Fedorov announced the launch of the private venture fund Ukraine Phoenix Tech Fund with a volume of €50 million. He announced this on his social networks, UNN reports.
Even during a full-scale war, Ukrainian startups create innovative products and compete at a global level. Our task is to support their development and create an ecosystem attractive to foreign investors.
The fund was created with the support of the European Investment Bank and announced jointly with France's Special Envoy for Aid and Reconstruction of Ukraine, Pierre Elbron.
According to Fedorov, the fund will provide early-stage Ukrainian technology companies with capital, strategic support, and access to an international network. This will allow startups to compete globally and contribute to the formation of an innovative ecosystem attractive to foreign investors.
Recall
Recently, the Ministry of Digital Transformation announced that Ukraine will cooperate with the largest research institute in the Netherlands, TNO, to develop breakthrough military technologies. The Brave1 cluster signed a memorandum of partnership, involving thousands of scientists and engineers.