Flashpoint, an international technology investment firm that manages six funds with a total value of more than $450M, intends to raise a new Ukrainian Tech Fund totaling about $75M, focused only on Ukraine, said managing partner Ihor Bilous.
“We want to concentrate our focus more on Ukraine and raise this small fund of $75M to build more tech enterprises and invest in them,” he said at the Ukrainian Investment Roadshow conference held last week in London. Bilous said that the company is currently negotiating with leading international financial organizations and the British government regarding the possibility of financing this fund.
The fund's advisory board includes ex-Deputy Minister of Economy Natalya Nikolskaya, CTO People.ai Andriy Axelrod, former adviser to the Minister of Economy Marko Ivashko, CEO and co-founder of Revenue Grid Vlad Voskresensky and executive director of the Ukrainian Association of Venture and Private Capital UVCA Dmitry Kuzmenko.
The fund will be able to invest $1-3 million in 12-15 companies at the lead stage, buying shares of 10% and actively participating in portfolio management.
Today, 30-35 people work at Flashpoint. The headquarters of the company is located in London, and there are also offices in New York, Warsaw, Budapest and Riga. The company plans to have an office in Kyiv with five people.
Flashpoint's portfolio includes three companies from Ukraine, in which more than $17 million has already been invested.
