New VC fund hi5 Ventures launches in Ukraine

New VC fund hi5 Ventures launches in Ukraine

Former managing partner of Adventures Lab Andrey Krivorchuk launches a new fund hi5 Ventures

The VC firm is getting ready to launch. It is going to kick off its website in a couple of weeks. General partners are Andrew Kryvorchuk and Leon Podobedov. The venture partners list will be announced by the team later; negotiations with the candidates are going on now.

Ukrainian and foreign entrepreneurs and funds will become the firm’s investors. hi5 Ventures fund size will be about $15 million.

The firm is already investing in projects. It has supported three teams.

hi5 Ventures focuses on early-stage startups (Pre-Seed, Seed, Pre-A).

It is primarily interested in projects with Ukrainian founders.

From industries: 2C, SaaS, Mobile, EduTech, AI/ML, Security, eSports, AdTech.

The firm will invest in pre-seed startups up to $250,000, seed-stage startups up to $500,000, and Pre-A startups up to $1 million.

“On the one hand, the war has slowed down (but not stopped) the process of attracting investors to the firm. On the other hand, it pushed Leon and me to step up our efforts even more. After the war, the IT entrepreneurial market will need funding, and we would like hi5 Ventures to be among the first to rebuild the Ukrainian ecosystem,” says Kryvorchuk.

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