KYIV. July 25 (Interfax-Ukraine) – HP Tech Ventures created in May 2016 by HP Inc, the world leader in personal computers, as well as, consumer and commercial printing, has become a member of the Ukrainian Venture Capital and Private Equity Association (UVCA).
The association said in a press release that HP Tech Ventures invests globally in early-stage companies where HP can provide strategic value: 3D Printing, IoT, Immersive (VR, AR, and HCI), and Smart Machines (Robotics and AI).
“We hope that due to our cooperation it will find interesting startups to invest exactly in Ukraine — especially now there is a wide range of projects: over 2,500 startups in our country, and the number is growing,” UVCA Executive Director Olha Afanasieva said.
A representative of HP Tech Ventures Vitaliy Holomb said that the fund expects great things from Ukraine’s massive pool of engineering talent.
“We expect great things from Ukraine’s massive pool of engineering talent and are doing our part to help foster innovation while providing a bridge to Silicon Valley,” he said.
Ukrainian companies have attracted more foreign investors last year without losing interest at the local market. About half of the deals (48%) in 2015 (according to UVCA Private Equity and Venture Capital Overview) have been closed with the participation of international funds.
“This fact demonstrates interest of international partners in Ukraine, and shows the recognition of Ukrainian startups on the global market,” the association said.
UVCA was founded in August 2014. The initiators of the association were Andriy Kolodiuk and Merilo. Today 1,200 investment companies, institutional investors and market players, including Horizon Capital, KM Core, AVentures, Intel Capital, SCM, Vostok Ventures, Capital Times, the Warsaw Stock Exchange and other international investors, are association members. The World Bank and the European Bank for Reconstruction and Development (EBRD) are partners of the association.
