KYIV. Nov 20 (Interfax-Ukraine) – Western NIS Enterprise Fund (WNISEF) has announced the launch of U.Ventures, a new fund focusing on investing in early-stage technology startups from Ukraine and Moldova.
U.Ventures will invest in early stage companies, from Seed to Series A, with investments ranging from $100,000 to $500,000.
WNISEF told Interfax-Ukraine on Wednesday that at the first stage the fund will manage $5 million, although it is planned to expand it to $10 million.
“We founded U.Ventures to help ambitious startup teams navigate through the complex entrepreneurial journey from concept to significant shareholder value creation, working in a supportive and respectful manner as full lifecycle partners,” WNISEF President and CEO Jaroslawa Z. Johnson said.
According to the document, U.Ventures will back start-ups from Ukraine and Moldova that typically have a product with first traction, targeting large addressable markets, with a technology edge, driven by motivated teams with proven track record, and reputable co-investors.
To date U.Ventures has invested just over $2.3 million in 6 companies which are emerging leaders in their segments, quickly expanding into global markets.
Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). Since its inception, WNISEF’s cumulative investments total over $168 million to 118 companies in Ukraine and Moldova.
In 2015, WNISEF has launched a $35 million legacy program focused on export promotion, local economic development, impact investing and economic leadership.
