Flyer One Ventures Launches €50M Fund
Ukrainian venture capital firm Flyer One Ventures (F1V) has announced the launch of a new €50 million fund, partially financed by two major international institutions — the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). The news was reported by Tech.eu.
What’s Known
- This is F1V’s fifth fund and will target Ukrainian and Eastern European startups aiming at global markets.
- The EBRD is contributing €6.5 million, with the possibility of increasing that to €10 million. The IFC is investing another €5 million, including €3 million from the Japanese government through ERA, a program designed to boost Ukraine’s economic resilience.
«We are the first Ukrainian venture capital firm to receive funding from both the IFC and the EBRD. This is a great responsibility and an even greater honor,» said F1V partner Oleksii Yermolenko.
- F1V typically invests up to $1.5 million in pre-seed and seed-stage startups. Since its inception, the fund has deployed nearly $45 million across more than 90 startups addressing real-world problems in critical industries.
- Portfolio companies include Fintech Farm, Liki24.com, Jome, and Mate Academy. F1V has also made two successful exits: VOCHI, acquired by Pinterest, and Greenscreens, acquired by Triumph Financial.
«We are delighted to support the new F1V fund, as it is a way to help local founders bring their ideas to life. This collaboration will help strong companies scale — exactly what the market and the region need right now,» said Matteo Patrone, EBRD Vice President for Banking Operations.
«Investing in F1V is our way of supporting Ukraine’s IT entrepreneurs. We want to strengthen the country’s venture ecosystem so that talent stays and private investors engage more actively in its growing tech sector,» added Ines Rocha, IFC Director for Europe.
Why it matters: The backing of F1V by both the EBRD and IFC is a rare milestone for Ukraine’s venture market. Large institutional investors typically avoid early-stage funds in the region, preferring later-stage deals. Their involvement signals growing confidence in Ukrainian tech and could catalyze more capital from limited partners (LPs) — both local and global — into startups with Ukrainian roots.
About F1V
Flyer One Ventures is a Ukrainian VC firm launched in 2018. It invests in startups across Ukraine and Central and Eastern Europe, with a focus on software companies targeting global markets. The fund is led by managing partner Vital Laptenok. Since launch, F1V has invested in 87 companies, with total investments reaching $45 million.
The average ticket size is $500,000, but the fund is open to writing checks from $100,000 to $2 million at the pre-seed and seed stages. F1V does not invest in hardware, web3 projects, or game studios. According to the firm, 50% of its portfolio companies have already raised Series A rounds.
Flyer One Ventures Launches €50M Fund
Ukrainian venture capital firm Flyer One Ventures (F1V) has announced the launch of a new €50 million fund, partially financed by two major international institutions — the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). The news was reported by Tech.eu.
What’s Known
- This is F1V’s fifth fund and will target Ukrainian and Eastern European startups aiming at global markets.
- The EBRD is contributing €6.5 million, with the possibility of increasing that to €10 million. The IFC is investing another €5 million, including €3 million from the Japanese government through ERA, a program designed to boost Ukraine’s economic resilience.
«We are the first Ukrainian venture capital firm to receive funding from both the IFC and the EBRD. This is a great responsibility and an even greater honor,» said F1V partner Oleksii Yermolenko.
- F1V typically invests up to $1.5 million in pre-seed and seed-stage startups. Since its inception, the fund has deployed nearly $45 million across more than 90 startups addressing real-world problems in critical industries.
- Portfolio companies include Fintech Farm, Liki24.com, Jome, and Mate Academy. F1V has also made two successful exits: VOCHI, acquired by Pinterest, and Greenscreens, acquired by Triumph Financial.
«We are delighted to support the new F1V fund, as it is a way to help local founders bring their ideas to life. This collaboration will help strong companies scale — exactly what the market and the region need right now,» said Matteo Patrone, EBRD Vice President for Banking Operations.
«Investing in F1V is our way of supporting Ukraine’s IT entrepreneurs. We want to strengthen the country’s venture ecosystem so that talent stays and private investors engage more actively in its growing tech sector,» added Ines Rocha, IFC Director for Europe.
Why it matters: The backing of F1V by both the EBRD and IFC is a rare milestone for Ukraine’s venture market. Large institutional investors typically avoid early-stage funds in the region, preferring later-stage deals. Their involvement signals growing confidence in Ukrainian tech and could catalyze more capital from limited partners (LPs) — both local and global — into startups with Ukrainian roots.
About F1V
Flyer One Ventures is a Ukrainian VC firm launched in 2018. It invests in startups across Ukraine and Central and Eastern Europe, with a focus on software companies targeting global markets. The fund is led by managing partner Vital Laptenok. Since launch, F1V has invested in 87 companies, with total investments reaching $45 million.
The average ticket size is $500,000, but the fund is open to writing checks from $100,000 to $2 million at the pre-seed and seed stages. F1V does not invest in hardware, web3 projects, or game studios. According to the firm, 50% of its portfolio companies have already raised Series A rounds.
