Flashpoint, an international technology investor in a B2B SaaS company that manages six funds with a total value of over $450 million, intends to raise a new Ukrainian Tech Fund of about $75 million focused only on Ukraine, Ihor Bilous, managing partner of the company, who once headed the State Tax Service and the State Property Fund of Ukraine, has said.
“We want to focus a little more on Ukraine… to raise this small fund of $75 million and have more founders from Ukraine build more businesses, invest in them,” he said at the Ukrainian Investment Roadshow conference last week in London.
Bilous said that the company is currently negotiating with leading international financial institutions and the British government about the possibility of financing this fund.
According to him, an advisory board has been created, which includes ex-Deputy Minister of Economy Nataliya Mykolska, CTO People.ai Andriy Axelrod, former adviser to the Minister of Economy and well-known in the field of direct investment in Ukraine Marko Ivashko, CEO and co-founder of Revenue Grid Vlad Voskresensky and Executive Director of the Ukrainian Association of Venture and Private Capital UVCA Dmytro Kuzmenko.
The fund will be able to invest $1-3 million in 12-15 companies at the lead stage, buying shares from 10% and actively participating in portfolio management.
“This is not charity, this is a real business. And we would like to invest today, without waiting for the end of the war,” Bilous said.
He said that the company currently employs 30-35 people, three of its four leaders are Ukrainians, and it is represented by headquarters in London and offices in New York, Warsaw, Budapest, Riga “and, hopefully, soon in Ukraine.”
According to the managing partner, the company has made 59 entries and 12 exits, has a broad base of more than 130 investors from different countries.
Flashpoint’s portfolio includes three companies from Ukraine, in which more than $17 million has already been invested, Bilous said. They are Preply, allset and All Right. However, more than 450 companies were analyzed and an in-depth analysis of 205 of them was carried out.
Flashpoint plans for 2027 to have 20 new portfolio companies in Ukraine with more than 1,000 specialists, as well as its own office in Kyiv, consisting of five people.
