Business news from Ukraine

UFUTURE AND INSOFT PARTNERS TO SELL THEIR JOINT OUTSOURCING BUSINESS ITERNAL GROUP TO UST

Ukrainian collaborates to continue cooperation and invest in larger projects
Kyiv, January 17, 2022. – Investment company InSoft Partners and holding company UFuture announce the sale of their joint outsourcing business ITernal Group to an international company headquartered in Aliso Viejo, USA, UST. Deal negotiations lasted from September 2021 to January 2022.
ITernal Group, a joint project of InSoft Partners and UFuture, was launched in 2018. Within 1.5 years, Lenal and Rademade software development businesses from Kyiv, as well as service department of Rozdoum company from Kharkiv, were acquired. Over the next six months, they were merged into a single entity, ITernal Group.
The new owner of ITernal Group, international company UST, has been working in the software development market for over 22 years. The acquisition of ITernal will allow UST to expand its Eastern European presence: the company did not have an office in Ukraine before.
As part of the business reformatting, InSoft Partners also withdrew from the educational project ucode IT academy in favor of its strategic partner UFuture. The companies have been developing ucode IT academy since 2018. During this time, they created a unique software product for students training and several joint educational programs with Ubisoft, CISCO, Ajax Systems, Squad and others.
UFuture will continue to develop ucode IT academy as an educational platform within its own social investment projects to develop Ukraine’s innovation potential. Now ucode IT academy works at UNIT.City innovation park in Kyiv.
“With ITernal Group creation we tested the idea of several small IT companies merging for reducing money spending and sustainable scaling of business. We deliberately went into small businesses and merged them not consistently, but simultaneously to test our business skills within small companies. Merging small companies into a large entity and its strengthening due to the reputation of majority shareholders has helped the ITernal Group to start cooperation with high-level clients. Successful completion of the business cycle (development of an idea – several companies buying – merging them into one entity – selling to a large strategist) confirmed our idea. Together with UFuture, we plan to use this model in larger projects,” said InSoft Partners founder Vitaly Gorovoy.
“Our partnership with InSoft Partners is just beginning. The sale of ITernal Group was, firstly, highly profitable, secondly, showed us scale prospects. I am glad that we have attracted a great international company UST to Ukraine. This is not only an international investment in the development of the project, but also new experience, knowledge and opportunities for talented Ukrainian teams,” said Vasyl Khmelnytsky, founder of the UFuture holding company.
Additional information
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects.
The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $500 million, and the total capitalization of the businesses it invested in is up to $1 billion.
InSoft Partners is an investment company that buys stakes in IT service companies and helps them grow. Specialization: IT business value increasing, scaling, M&A. Core Value, Cloudfresh are among of their completed projects.
UST, for more than 22 years, has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations – delivering measurable value and lasting change across industries, and around the world. Together, with over 28,000 employees in 28 countries, we build for boundless impact – touching billions of lives in the process.

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UFUTURE PLANS TO START PHASE ONE LVIVTECH.CITY IN SEPT

Development company UDP, part of the UFuture investment group belonged to businessman Vasyl Khmelnytsky, plans to launch phase one of the innovative LvivTech.City park with an area of 18,000 square meters in September 2021, Vice-President of UDP Vitaliy Melnyk has said.
“As for LvivTech.City, in September of this year, we plan to launch phase one – about 18,000 square meters – of the business campus, after which we will begin to build the residential part,” the press service of UFuture said, quoting Melnyk.
According to him, the area of the park is 5 hectares, the planned area of real estate is 110,000 square meters. The Innovation Park has already signed a memorandum of partnership with IWG, which operates the Regus and Spaces coworking spaces.
UDP also plans to disclose plans for the development of an innovation park in Kharkiv in the near future, Melnyk added.
“UNIT.City Kharkiv is located on 9 hectares and in the future it will have about 250,000 square meters of space. In Kharkiv, we have implemented development phase one through the reconstruction of the former exhibition center. More than 3,000 square meters of real estate were put into operation, where educational and office premises are concentrated. In the near future we will announce plans on the further development of the Kharkiv park,” he said.
Melnyk also said that today on the territory of Kyiv’s Unit.City, more than 100,000 square meters of office and residential premises are being implemented, the main square (Main Plaza), designed by the architect Hiroki Matsuura, is preparing for the opening.
As reported, LvivTech.City will be located on the territory of the industrial zone of the former Lvivprylad plant. It is planned that the total area of the office part will be more than 40,000 square meters. The park will be equipped with parking lots, a green area and recreation areas. In addition, the project will be implemented according to LEED energy and environmental design standards.
The completion of phase one of the LvivTech.City innovation park was previously scheduled for the second half of 2018, later postponed to the end of 2019.
In addition, UFuture together with National Technical University “Kharkiv Polytechnic Institute” has implemented the Innovations Campus educational space in Kharkiv worth more than UAH 60 million.

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UFUTURE AND BIOPHARMA SUBMIT COMPLEXES FOR DETECTION OF COVID-19 TO PUBLIC HEALTH CENTER

Biopharma, which is one of the ten largest Ukrainian manufacturers of the pharmaceutical industry and specializes in human blood plasma drugs, has submitted to the laboratories of the Public Health Center of the Ministry of Health of Ukraine equipment that will allow the presence and absence of samples to be determined quickly and by modern methods agents of coronavirus disease. This decision, in conjunction with entrepreneur Vasyl Khmelnytsky’s UFuture holding company, is a continuation of a series of social initiatives undertaken by Ukrainian entrepreneurs amid a coronavirus pandemic.
“The Center will become the main reference site that will monitor the correctness of diagnostics throughout Ukraine. In other words, samples from laboratories will be sent here to confirm or refute the diagnosis. Without the transferred equipment, effective control of coronavirus disease in Ukraine would be defective,” Kostiantyn Yefymenko, President of Biopharma, reported.
The first unit is the Nuclear Acid Extraction Equipment from Thermo Fisher Scitific with consumables for 20,000 samples. The equipment helps prepare samples for analysis. The second unit is the equipment of Bio-Rad CFX 96 for molecular genetic analysis by PCR for the presence of a DNA virus and a system test for the detection of COVID-19.
The total cost of the equipment exceeds six million UAH, its installation and startup is performed by the company “ALT Ukraine LTD”. The equipment allows to process up to 100 samples in 60 minutes and in total about 2 thousand analyzes per day.
“Business should do everything in its power to stop the spread of the coronavirus and bring Ukraine back to normal. First of all, we need quality and timely diagnostics. already hundreds of millions of hryvnias and assistance continues,” Vasyl Khmelnytsky, founder of UFuture, said.
In addition, UFuture purchased two lung ventilation devices and all materials for their operation for the amount of 1 million 700 thousand UAH to one of the hospitals in Kyiv, and Biopharma — equipment for Bila Tserkva city hospital №3 (reference infectious hospital for the Kyiv region) with an amount of five million UAH.
Among them:
• two AR-203 artificial ventilation apparatus;
• AS-200 biochemical automatic analyzer;
• 3-Part DiffH 18 light hematology analyzer;
• EasyStat blood gas and electrolyte analyzer;
• BM1600 patient monitor with BM200 module;
• Laura Smart urine analyzer;
• two microscopes Micromed Fusion FS-7620.
The total cost of assistance from the holding companies is more than 12 million UAH. Also, masks and systems for rapid tests for the hospitals of Bila Tserkva will be purchased soon.
ADDITIONAL INFORMATION
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects. The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $550 million, and the total capitalization of the businesses it invested in is more than $1 billion.
Biopharma is a Ukrainian immunobiological pharmaceutical company that which specializes in the drugs of human blood plasma. The number of employees – more than 300 people. The company exports drugs to 36 countries. In 2019, the company opened in Bila Tserkva a “built from scratch” manufacturing facility, investing about $75 million. Its the only plant of its kind in Eastern Europe.

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UFUTURE AND INSOFT PARTNERS LAUNCH UNIQUE IT TRAINING PROGRAM UCODE IN UKRAINE

UFuture and InSoft Partners announce the launch of a unique and scaling IT-training program ucode. It was developed based on the Challenge Based Learning methodology, which was initiated by Apple and used at Apple Developer Academy. The training is based on real challenges, overcoming which students alone or in teams find ways to solve everyday problems.
“In today’s world, up-to-date knowledge and skills, multiplied by teamwork, are of paramount importance to people, countries and companies. That is why we strive to make modern basic IT education accessible in Ukraine. Ucode will open up opportunities for you to quickly gain the profession you need and earn a decent living. It’s a core intellectual product in the UNIT.City Innovation Park ecosystem in Kyiv and Kharkiv. But in the future, we and our partners plan to scale it not only in Ukraine but also abroad,” Vasyl Khmelnytsky, founder of UFuture, said.
“In addition to mastering languages and programming techniques, ucode graduates will receive soft skills, effective teamwork skills thanks to peer training, product and entrepreneurial thinking, speeches by practicing IT specialists from leading Ukrainian and foreign companies, a portfolio of more than 10 projects and guaranteed employment,” Vitaly Gorovoy, founder of InSoft Partners, said.
Anyone over the age of 17 years can join the program, and with a level of English not lower than Intermediate, regardless of the level of education and profession. The training starts on March 30 in Kyiv and Kharkiv. The first set of programs is designed for 400 students. Training will be conducted on a paid basis and will last 16 months. More information is available at the following link.
ADDITIONAL INFORMATION
UFuture — is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects. The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT.
InSoft Partners — a niche investment management company that focuses on the IT business. Having a team with extensive experience in the development of IT companies, InSoft Partners joins the operating activities of portfolio companies, contributing to their active growth (through lead generation, changing business processes, etc.).

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JOINT COMPANY OF UFUTURE AND INSOFT PARTNERS ANNOUNCES INVESTING IN TWO IT-BUSINESSES

InSoft Software has increased its share in the service direction of the Kharkiv IT-company, Rozdoum, and has become one of the shareholders of the Kyiv IT-company Rademade. Therefore, currently, the investment portfolio of InSoft Software consists of three companies: Lenal, Rozdoum, Rademade.
InSoft Software also announced the change of its name to ITernal Group. Among the reasons for rebranding, the representatives of the company say about the expansion of the range of services, a change in the logic of positioning, and feedback from customers.
ITernal Group provides turnkey solutions on software development, strengthens customers’ teams with its developers, and helps foreign clients open R&D offices in Ukraine (by purchasing small companies, hiring employees, renting offices, and assisting with further service). The company is actively developing both organically and with the help of M&A strategy, consolidating controlling stakes in IT-companies.
“The creative economy of Ukraine is developing dynamically. The amount of investments and the number of startups in this industry are growing rapidly. According to experts, revenues in the Ukrainian IT-sector will amount to about $5 billion in 2019. We and our partners are convinced that ITernal Group will take a worthy place in the market and will contribute to the development of the innovative economy of Ukraine,” Vasyl Khmelnytsky, Founder of UFuture, said.
“The IT-outsourcing market has changed a lot, it has become mature. It’s getting more difficult for small companies to compete with big players in attracting contracts, customers, and employees. Therefore, offer differentiating is getting more important. We focus on ecosystem solutions. Being able to integrate small companies into one structure while preserving the brands and unique culture of the companies, we are quickly building a major player, and thus gaining the ability to attract more significant customers. On the other hand, our clients’ conversion is improving thanks to the wide range of the services provided by ITernal Group. In addition to the classic software development, we and UFuture bring M&A experience, access to a large innovative IT-school, and the most modern real estate for our clients”, Vitaly Gorovoy, Managing Partner of InSoft Partners, emphasized.
ADDITIONAL INFORMATION
In the summer of 2019, UFuture and InSoft Partners entered into a strategic partnership agreement in IT-industry and established a joint company.
Within this business, InSoft Partners is responsible for the search and purchase of controlling stakes in IT-companies, their integration into one structure, strategic management, and development. UFuture contributes to the organic growth of the joint business and the search for strategic partners through the international network of contacts.
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects. The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $550 million, and the total capitalization of the businesses it invested in is more than $1 billion.
InSoft Partners is a niche investment managing company that focuses on IT-business. Having a team with extensive experience in the development of IT-companies, InSoft Partners joins the operating activities of portfolio companies, contributing to their active growth (through lead generation, changing business processes, etc.). Among the counterparties of InSoft Partners are the famous American investment fund, Oak Tree Capital Management, and FinPoint/Rothschild&Co.

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UFUTURE AND BOOKCHEF LAUNCH JOINT PROJECT #BESTREAD

UFuture and BookСhef launch a joint publishing project aimed at developing of entrepreneurship in Ukraine. The goal of the partnership is to consolidate entrepreneurial expertise and successful publishing experience. This will allow to select literature according to the needs of Ukrainian business, to optimize translation, publishing, and distribution.
Books on a wide range of topics that will contribute to the development of entrepreneurial competencies, in particular, leadership and management, will be published. These books will provide the latest knowledge on various aspects of entrepreneurship, reveal case studies, stories of companies and biographies of their founders, will encourage for entrepreneurship and enhance its prestige.
“To be successful and competitive in business, to receive investments, to find reliable partners, Ukrainian entrepreneurs need to constantly obtain new knowledge. This is why #bestread will continue the list of our impact investment projects supporting small and medium entrepreneurship in Ukraine,” Vasyl Khmelnytsky, Founder of UFuture, said.
“BookChef is actively developing the non-fiction direction. We implement a large joint project with the MIM Business School where we’ve published bestsellers by Ichak Adizes, Yuval Noah Harari, success stories of companies and products. In 2019, we published the super bestseller, “Big Money. The Principles of the First,” where famous Ukrainian businessmen shared their experience,” Olexander Kirpichov, CEO of BookChef, emphasized.
“#bestread is about the books that are worth the time of entrepreneurs, the most valuable resource of modern business. We are pleased to join the collaboration with UFuture and synchronize with other business initiatives of the company,” Vadym Saveliev, Project Manager of #bestread, said.
Soon, the partners will announce the publishing plans and start working on the first books. During 2015-2019 years, Vasyl Khmelnytsky’s K.Fund has released non-fiction books as part of K.Fund Books project.
ADDITIONAL INFORMATION
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky that integrates his business and impact-investment projects. The company has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $550 million, and the total capitalization of the businesses it invested in is more than $1 billion. UFuture is a majority shareholder in UDP development company (specializing in large infrastructure projects), Kyiv Sikorsky International Airport (the second international airport in Ukraine by passenger traffic), national operator of outdoor advertising RTM-Ukraine, and a group of IT companies and an ecosystem of tech solutions ITernal. UFuture is a strategic investor in the pharmaceutical company Biopharma and UDP Renewables, renewable energy investment and development company. UFuture is also developing new business projects including UNIT.City innovation parks in Kyiv and Kharkiv, LvivTech.City in Lviv; Bila Tserkva industrial park and a manufacturer of modern electrotechnical systems, Plank Electrotechnic. UFuture supports social projects in the fields of education and economics, including the Kyiv International Economic Forum (KIEF), Lean Institute Ukraine, UNIT School of Business, UNIT Factory innovative IT-schools in Kyiv and Kharkiv, Secondary education institution Novopecherska School, the all-Ukrainian online platform iLearn and others.
BookChef is a publisher of bestsellers by Yuval Noah Harari, Michelle Obama, Cameron Diaz, Bill Clinton, Ichak Adizes, Liu Cixin, and other world-renowned authors. In 3 years, an ambitious startup has grown into a publishing house with a portfolio of 200+ books and a turnover of tens of millions of hryvnias. The publisher develops joint projects with UFuture, the MIM Business School, Oschadbank, Synevo international network of laboratories, and more. It selects books from world charts, recognized bestsellers, and popular novelties by promising authors. We find texts that will be useful for readers, that can be read and re-read many times, thought-provoking and helping to see things at an unusual angle. BookChef — books that shape a personality.

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