TLDR:
- The Ukrainian Venture Capital Association has launched a $300M Fund of Funds to strengthen the PE, VC, and tech ecosystem in Ukraine.
- The Ukrainian Fund of Funds aims to become the first institutional anchor investor with 30%+ of the first LP commitment to help GPs raise the remaining 70%.
The Ukrainian Venture Capital and Private Equity Association (UVCA) has officially launched the Ukrainian Fund of Funds (FoF) in an effort to strengthen the PE, VC, and tech ecosystem in Ukraine. The initial FoF size is expected to be $300 million, with the goal of becoming the first institutional anchor investor with a 30%+ commitment from LPs to assist GPs in raising the remaining funds.
This independent initiative, led by Manager Ertan Can, aims to support 16 Ukrainian funds actively raising money, as well as around 50 foreign funds interested in the CEE market. The structure of the Ukrainian FoF is currently free from government involvement but may welcome state investments in the future. The investors in the Ukrainian FoF will play a crucial role in determining fund management on a transparent and competitive basis.
Ertan Can, a venture capital fund of funds pioneer in Europe, brings 20 years of experience in asset management, fund of funds, VC, and IT roles to lead the Ukrainian Fund of Funds. His expertise and strategic leadership are expected to drive the success and impact of this $300 million initiative in the Ukrainian tech ecosystem.
