The new VC fund called SID Venture Partners I has launched in Ukraine. The size of the trust fund is $15M. Its focus is on early-stage funding (pre-seed, seed, Series A) of the projects with Ukrainian founders.
The fund is managed by 9 representatives of the Ukrainian IT industry. It combines the efforts of 3 companies — Sigma Software (S), Ideasoft (I) and Datrics (D), which create a synergy of service and product business.
Entrepreneurs from Clean.io (cybersecurity solutions) and NEAR (a $6B blockchain project), as well as other representatives of the IT market will also be involved in scaling the portfolio companies.
Selection of startups
The fund will focus on Ukrainian tech startups, preferring projects in deeptech, b2b, blockchain, fintech and the automotive industry.
- Funding stages — pre-seed, seed, Series A;
- Target portfolio — 50 companies;
- Management fee: ≤5 years — 2,5 % of the invested capital, >5 years — 2 %;
- Investment period — 5 years.
The size of each investment starts from $5,000. This will lead to the creation of a separate area — smart investing with the opportunity to participate in the activities of the Fund and thus influence the development of startups and local products.
Investment portfolio
As of the time of writing this news, the first investment from SID Venture Partners received 3 startups:
- V-Art – a platform that provides a comprehensive ecosystem for artists, collectors, and other art market professionals through an NFT+ marketplace, virtual exhibition technology as well as networking tools, and high-quality content.
- Awesomic.io – a platform for finding designers with a free library of UI animations. YC alumni. More than 600+ clients: Natural Capital Exchange, Reface, People.ai, Restream.
- Finmap – a financial accounting web service for small and medium-sized businesses that provides users with access to business analytics requiring no financial background.
