Reed Hastings has joined UA1, a fund focused on supporting Ukrainian developments in the defense-industrial complex. This was announced by Oleksandr Kamyshin, an adviser to the President of Ukraine on strategic development, in an interview with Forbes Ukraine.
UA1 plans to complete its first fundraising round at the level of $50 million by the end of April 2026. The majority of investors are American technology entrepreneurs and venture investors.
UA1 has a mandate to invest in technologies that can be used on the battlefield, with a particular focus on Ukrainian developments. Oleksandr Kamyshin participates in the fund as an adviser and is responsible for attracting new investors. According to him, more than $1 billion in investment is expected to be attracted to Ukraine’s defense-industrial complex in 2026.
UA1 was founded by William McNulty, a US Marine veteran who, at the start of the full-scale invasion, helped equip Ukrainian passenger trains with first-aid kits. McNulty has been actively working in the Ukrainian defense tech investment market and began making his first angel investments back in 2024, later incorporating them into the fund’s portfolio.
As of October 2025, UA1 had raised $18 million. The fund focuses on sectors such as defense technology, artificial intelligence, electronic warfare, unmanned systems, robotics, and cybersecurity.
Hastings’ decision to join the fund underscores the growing interest of international technology investors in Ukraine’s defense sector and the potential of Ukrainian high-tech startups.
