'Kyiv could be Silicon Valley' — New 50-million-euro startup fund will develop Ukraine’s tech-ecosystem
- Женька Кохан
- Oct 14, 2025
- 1 min read
Dominic Culverwell
October 14, 2025
If most investors have opted to watch Ukraine from a distance during Russia’s ongoing invasion, Charles Whitehead and Dominique Piotet are undeterred, launching a 50 million euro venture capital fund to boost local talent and help put Ukrainian startups on the global map.
The two veterans of Ukraine’s start-up and tech scene inaugurated the Ukraine Phoenix Tech Fund (UPTF) on Sept. 29 — a project that's been in the works since 2019 and the first institutionally backed global venture capital fund to focus solely on Ukrainian tech.
With the European Investment Bank (EIB) committing 15 million euros, it's also the first VC fund to be backed by Europe’s reconstruction fund for Ukraine, EU4U.
Comments