The Inzhur MilTech investment fund raised more than UAH 500 million during its first 24 hours of operation, giving Ukrainian retail investors an opportunity to invest in domestic defense company Vyriy Industries, one of Ukraine’s largest manufacturers of FPV drones. Vyriy’s press service announced the results on August 14.
The fund was launched on August 13, and 12,239 individuals invested on the first day alone. The average investment amounted to UAH 40,819 per investor. As a result, the new investment vehicle attracted a significant volume of private capital within its first 24 hours, despite defense manufacturing being a relatively new asset class for Ukraine’s retail investment market.
The fund operates through the purchase of Inzhur MilTech investment certificates by private investors. The capital raised is then invested in corporate bonds issued by Vyriy Industries, providing the company with additional financial resources. The minimum investment is UAH 1,000, making the project accessible to investors with relatively limited capital.
Investors can join the fund until December 31, 2026. Inzhur MilTech plans to raise up to UAH 4 billion in total. The more than UAH 500 million attracted during the first day already represents over 12% of the fund’s maximum fundraising target.
Vyriy Industries said the proceeds are expected to be used to expand production capacity and purchase necessary components. With the additional financing, the company plans to increase drone production volumes and broaden its manufacturing capabilities.
Inzhur MilTech has become the first investment vehicle in Ukraine enabling private investors to directly invest in defense manufacturing. Prior to the launch of the project, Inzhur’s investment products were primarily focused on commercial real estate, energy and government bonds.
Inzhur is an investment company founded by developer and former Ukrainian MP Andriy Zhurzhiy. The company provides retail investors with access to various asset classes. Its core business remains commercial real estate investments through the Inzhur REIT fund. In addition, Inzhur offers investments in Inzhur Energy, a fund focused on a small power generation facility near Kyiv, as well as government bonds. As of June 2026, the company had 81,900 active investment accounts.
Vyriy Industries, one of Ukraine’s largest manufacturers of FPV drones, became the partner of the new fund. The company produces thousands of unmanned aerial vehicles every month and holds a significant position in Ukraine’s military drone market. The company is owned by entrepreneur Oleksii Babenko, who is also a co-owner of the Ukrainian online media outlet Babel.
Vyriy Industries generated approximately UAH 1 billion in revenue in 2024. Babenko estimated the company’s share of the Ukrainian market at around 5%. The manufacturer has also been actively expanding through acquisitions: during 2025, Vyriy Industries acquired five companies.
The launch of Inzhur MilTech creates a new channel for attracting capital to Ukraine’s defense industry. For Vyriy Industries, the fund provides access to significant financing for production expansion, while private investors gain an opportunity to participate in financing one of the most dynamic segments of the Ukrainian economy. The fund’s first-day result — more than UAH 500 million raised from 12,239 investors — demonstrates strong retail investor interest in such investment instruments.
