Tomorrow it may be too late to invest: which niches investors are already entering in Ukraine

Despite the war, geopolitical instability, and economic headwinds, investment is still flowing into Ukraine. While some are waiting for a “better moment,” others are already buying businesses, land, factories, and startups. What makes investors act now—and which niches are no longer empty?

The window of opportunity won’t stay open forever

Since 2022, Ukraine’s economy has been reshaped. Instead of collapse—adaptation. Instead of capital flight—new models. Today investors have a unique chance to enter niches that:

• are growing alongside global trends;

• are undervalued due to temporary risks;

• have state support, grants, or donor-backed demand.

In many cases, assets are being sold under stress at 30–50% discounts, or owners are seeking partnership capital on terms rarely available in peacetime.

1. Logistics and warehouse real estate—Ukraine’s “infrastructure of victory”

A tectonic shift in the country’s logistics map

After 2022, Ukraine’s logistics geography changed dramatically. Eastern hubs lost much of their function, while central and western regions absorbed the main load:

• relocation of businesses from Kharkiv, Dnipro, Zaporizhzhia, and Odesa to central and western oblasts;

• new import logistics routes via Poland, Romania, and Hungary;

• demand for warehouses within 100–150 km of EU borders surged.

As a result, investors are actively acquiring logistics infrastructure, including:

• sorting centers for e-commerce;

• cold-chain warehouses for food;

• sites for truck-based and multimodal logistics hubs.

Data that speaks for itself

• 70%+ of warehouses in Lviv region were leased or acquired in 2023–2024 (CBRE Ukraine);

• logistics rent rates increased by 30–50%, especially in the West;

• a boom in cold storage assets driven by retail, agri-exporters, and humanitarian logistics demand.

The rise of next-generation warehouses

Traditional warehouses are no longer the only format. Growing demand is seen for:

• build-to-suit logistics centers for a single tenant (often international);

• energy-efficient warehouses with autonomous power (solar panels, generators);

• temperature-controlled and cold facilities (fruit, medicines, food, humanitarian goods).

Demand is pushing M&A

A number of warehouse transactions have already occurred in 2023–2024:

• a logistics complex near Kyiv (3,770 m²) was sold for an Amazon EU fulfillment center;

• an 8,400 m² cold storage complex in Ternopil region was sold to a Polish investor;

• in Cherkasy region, a site with seven warehouses was sold for a logistics hub with vegetable processing.

What attracts investors

• ready-to-use facilities with utilities, access roads, and rail spurs;

• room to expand (land for extension);

• fast ROI potential (7–9 years or less for cold storage);

• demand from donors and public programs for leasing such facilities.

2. Next-generation agribusiness—investing in food security and technology

Ukraine remains an agricultural powerhouse even under wartime conditions: over 70% of exports are agri-products. However, the classic “grow and ship raw commodities” model no longer matches today’s challenges.

A new generation of agribusiness is emerging, focused on:

• deeper processing;

• vertical integration;

• export of value-added products;

• sustainability and smart agro-infrastructure.

Investors want models, not hectares

Demand is shifting from farmland deals to integrated platforms with infrastructure:

• farms with autonomous irrigation;

• cold storage plus logistics;

• mini-plants for processing and packaging;

• berry farms with EU fulfillment.

Market examples:

• 30 ha berry farms in Kyiv region exporting to Poland and Sweden;

• a 5,500-head pig complex in Vinnytsia region—a ready B2B model with meat processors;

• a 200-ton vegetable storage facility with greenhouses and pickling operations near Cherkasy—vertical farming + processing.

AgriTech, bioenergy, and sustainable practices

Solutions that used to be niche are becoming mainstream:

• precision agriculture (drones, moisture sensors, satellite monitoring);

• biogas and solar plants for energy independence;

• converting by-products into biofuel or fertilizers (husks, straw, beet pulp).

From raw exports to branded products on EU shelves

Investors are drawn to projects capable of:

• private label packaging for Western retailers;

• opening representation in Poland, Slovakia, Germany;

• achieving GlobalG.A.P., HACCP, Organic certifications.

3. Industrial assets for recovery—big infrastructure at a discount

Ukraine inherited enormous industrial capacity: thousands of factories, workshops, depots, and plants. Some are idle, partially damaged, or lost their markets—but they are not “dead” assets; they are platforms for redevelopment.

Why investors are looking

• deep discounts: prices often 5–10x below replacement cost;

• existing infrastructure: substations, gas supply, rail access, industrial water;

• land title / permanent use rights / lease-to-buy structures;

• faster launch: you can restart without rebuilding the full permitting path from zero.

What is in demand

• construction materials plants (concrete blocks, brick, foam concrete, aerated concrete);

• meat plants, poultry facilities, canneries (often with partial equipment preserved);

• old food plants and dairies for berry/vegetable/fruit processing;

• metalworking and machinery workshops for contract manufacturing or defense-related projects.

What investors must evaluate

• technical audit (structures, utilities, equipment);

• legal due diligence (land/building title, permits, redesign history);

• CAPEX for renovation and new equipment;

• redevelopment potential (logistics, processing, craft manufacturing).

4. MilTech, AI, GovTech

4.1. MilTech—technology that changes the battlefield

The full-scale war accelerated breakthrough solutions: drones, electronic warfare, fire-control systems, and “field ERP” tools. Ukrainian teams already have real battlefield validation.

Upside:

• post-war export potential (NATO, Asia, Africa, Latin America);

• technology spillover into AgriTech, GovTech, robotics;

• state support via faster certification and co-financing (BRAVE1).

Examples: DroneUA, SKIF, Dropla Tech; Himera, Aerodrone, Kvertus; Delta-type platforms and specialized battalion solutions.

4.2. AI—serving business, defense, and government

Global AI investment exceeds $300B, and Ukraine is gradually integrating into this wave. Ukrainian developers build both horizontal tools (analytics, generative content) and niche products for agriculture, security, education, and logistics.

Why invest now:

• capital gap: Ukrainian AI startups raise far less than US peers despite comparable quality;

• competitive cost of talent;

• proximity to real-world use cases (agro, energy, logistics, defense).

4.3. GovTech—digital government as an investment platform

Ukraine is recognized as a leader in digital public services (Diia, digital documents, registries, chatbots). Some solutions are being prepared for export as products or white-label offerings.

Key vectors:

• cybersecurity for government data;

• procurement automation (Prozorro/eData-based modules);

• municipal CRM, SmartCity solutions, public-service chatbots;

• GovAI systems for automated citizen support.

5. Private healthcare and MedTech—a decade-long trend

Healthcare is becoming a key direction for private capital due to growing demand for diagnostics, preventive medicine, mental health, aesthetics, and post-war rehabilitation.

Where money is going:

1. next-generation private clinics (outpatient surgery, CT/MRI/ultrasound/labs, women’s health);

2. medtech and digital health (home monitoring, AI diagnostics, medical CRM/ERP).

Ukrainian examples: VERBA, TeleDoc, Esper Bionics, Yuria-Pharm.

6. Digital infrastructure: data centers, hosting, CRM—the foundation of the digital economy

War-driven digitalization, plus energy and cybersecurity risks, create strong demand for resilient local infrastructure:

• secure Tier III–IV data centers;

• reliable local hosting and cloud services;

• CRM/ERP and accounting platforms integrated with banks, tax systems, and e-document flow.

Investment opportunities:

• building new Tier III data centers or rebranding outdated sites;

• GPU hosting farms for AI workloads;

• acquiring stakes in SaaS/CRM companies growing 30%+ annually;

• white-label CRM platforms for vertical niches (healthcare, development, agribusiness).

7. Residential and commercial real estate—with a new focus

Demand has shifted toward safety, autonomy, functionality, and faster payback.

7.1. Housing: “smart simplicity” over luxury

Rising demand for:

• satellite towns and safer regions;

• low-rise houses, townhouses with autonomous heating and shelters;

• homes with backup power (solar, generators).

7.2. Commercial: from malls to functional formats

• street retail with grocery/pharmacy anchors, parking, autonomous operation;

• small protected offices;

• next-gen coworking spaces with Starlink, generators, backup zones.

7.3. New development is about flexibility, not volume

Boutique projects with strong margins:

• modular housing;

• 20–50 unit developments with autonomous systems;

• hybrid formats: housing + office + shelter.

8. Businesses serving logistics, the army, and utilities—where demand meets stability

Logistics services: vehicle repair, spare parts, batteries, mobile service units, local fuel hubs, cross-docking and consolidation.

Army support industries: uniforms, gear, generators, stoves, mobile showers/laundry units, packaging and humanitarian logistics, drone repair/production and adjacent components.

Utilities (municipal services): repairs of roofs/windows/boilers/water systems; manufacturing of streetlights, paving, metal structures, windows, water tanks; engineering for energy efficiency—often supported by donor programs (URC, USAID, UNDP).

Conclusion: the winners are already on the field

Today’s investor in Ukraine isn’t someone blindly walking into risk—it’s someone who sees crisis turning into opportunity. While part of global capital waits for “stabilization,” more agile players are already entering core sectors: buying undervalued assets, launching joint ventures with Ukrainian partners, and occupying niches that may be crowded in 12–24 months.

The opportunity window is 12–24 months

Entering now provides a 1–2 year advantage: better entry terms, early partnerships, faster localization, and market positioning before a broader capital wave arrives.

High volatility = high upside

Risk remains, but so does the return potential. In many niches, payback can be 2–3 years, and IRR can exceed 30–40%—levels rarely achievable in mature economies—before even factoring in the post-war reconstruction cycle supported by the EU, G7, and IFIs.

Tomorrow may already be too late

When Ukraine enters large-scale reconstruction, many markets will be allocated: asset prices will rise sharply, competition will intensify, and entry will require a premium. If you are seriously considering investing in Ukraine—action is needed now. Tomorrow may be too late.

Ready to explore actual investment opportunities in Ukraine? Check InVenture investment platform.