Ukrainian venture capital firm Flyer One Ventures (F1V) announced the launch of a new €50 million fund in early July. At the time, the firm revealed that it had already secured one-fifth of the target amount from two major institutional backers:

• The EBRD committed €6.5 million, with the option to increase its stake to €10 million.
• The IFC invested another €5 million.

Just a few months later, F1V has already raised half of the fund.

When contacted by Scroll.media, the team declined to comment on new limited partners, citing ongoing negotiations. The firm also did not disclose whether it has started deploying capital from the new fund.

This marks Flyer One Ventures’ fifth fund, focused on Ukrainian and Eastern European startups with global ambitions. F1V typically invests up to $1.5 million in pre-seed and seed-stage companies.

About F1V

Founded in 2018, Flyer One Ventures has built an investment footprint across Ukraine and Central and Eastern Europe. The firm is led by Managing Partner Vital Laptenok. Since its launch, F1V has backed 87 companies with a combined investment of $45 million.

The fund usually writes checks averaging around $500,000, but can invest between $100,000 and $2 million at the earliest stages. Its focus is squarely on software companies building for global markets. F1V explicitly avoids hardware, web3 projects, and game studios. Notably, half of its portfolio startups have already advanced to Series A, underlining the firm’s ability to identify and support fast-growing companies.