Lviv Tech Angels, an investment fund supporting startups, has 10 potential investors and could sign the first deal with a startup at the early stage by the end of 2019, President of Lviv Tech Angels Michael Puzrakov has said.
“At the moment there are ten members of this club, ten potential investors. Now we are in search of a manager who would take up organizational work. When we hire a manager we will select startups,” Puzrakov told Interfax-Ukraine on the sidelines of the Lviv IT Arena forum.
According to him, the first investment of the fund is possible before the end of this year, although the fund does not have a specific plan.
Angels’ money (investing in a startup at an early stage in exchange for a company share) in startups comes from IT, from other successful startups, that is, those who have brought their companies to a profitable level and have free funds. They can evaluate the quality and prospects of startups and help them,” Puzrakov said.
Lviv Tech Angels investment fund was launched in June this year as part of Lviv IT Cluster, the union of IT companies.
INVESTMENT DEALS, INVESTMENT FUND, LVIV TECH ANGELS, SUPPORTING STARTUPS
Lviv IT Cluster, a community of the largest IT companies, will present the first regional investment fund Lviv Tech Angels in support of start-ups in Lviv on June 28.
The goal of the new investment project is to give an incentive for the development of IT business in Lviv and Ukraine, create favorable conditions for growth of companies, and build a strong start-up culture in Ukraine, Lviv IT Cluster said on its website.
“The club of investors will bring together top managers of Lviv IT companies who would select the best Ukrainian start-ups for investment, mentoring, and consulting. Intellias co-founder and СОО Mykhailo Puzrakov, Sigma Software co-founder Volodymyr Chyrva, and N-iX CEO Andriy Pavlov are the initiators of the projects,” reads the statement.
As reported, Canada’s Brookfield & Partners headed a consortium of investors who joined a project to build the first stage of Innovation District IT Park in Lviv with gross area of 10 ha. The cost of the project is $160 million.
The IT Park will occupy 10 hectares between Stryiska, Chmoly, Luhanska and Kozelnytska Streets in Lviv. The construction of the first stage of the IT Park will last about 2.5 years, which will cover about 90% of the entire project, and the first round of investment will reach $95 million. The second stage of the IT Park provides for the construction of business centers and will last about five or six years.
Six eight-storey Class A office buildings, three business centers, a hotel (5,700 square meters, 150-200 rooms), a kindergarten (2,000 square meters), a university (6,000 square meters), a health club, and a parking lot for 3,167 cars are to be built under the project.
Lviv IT Cluster plans to open modern IT labs there that will be available to IT students of all Lviv-based universities.
Lviv IT Cluster is a community of IT companies in Lviv.
The Antimonopoly Committee of Ukraine (AMCU) has allowed PJSC Closed-End Non-Diversified Venture Corporate Investment Fund “Hunter” (Kyiv) to acquire more than 50% in charter capital of the resort and spa operator PrJSC Truskavetskurort (Lviv region). This was reported by the AMCU’s press service. PrJSC Truskavetskurort incorporates such health resorts as Vesna (Spring), Krystal (Crystal), Almaz (Diamond), Yantar (Amber), Rubin (Ruby Crystal), Berezka (Little Birch) (all based in Truskavets, Lviv region).
