IFC may allocate Flyer One Ventures Fund V EUR5 mln for projects in Ukraine and CEE
The International Finance Corporation (IFC) from the World Bank Group may allocate EUR5 million to Flyer One Ventures Fund V, which will be created to invest in technology companies in Ukraine and the countries of Central and Eastern Europe (CEE).
As stated on the corporation's website, the board of directors plans to consider this project on June 20 of this year.
The project is expected to be supported by donors under the Economic Resilience Activity (ERA) program for Ukraine: Japan is investing up to $3 million in the project as part of blended financing.
IFC believes that investments in Flyer One Ventures Fund V will contribute to supporting the sustainability of digital entrepreneurship in Ukraine and preserving the local venture capital market.
Flyer One Ventures (F1V), according to its website, is an investment fund specializing in financing startups in the early stages of development. The founder and general partner of F1V is Vitaliy Laptenok, who is also a co-founder of the IT company Genesis. The partner and co-founder is Oleksiy Yermolenko, who previously worked at KPMG and Deloitte, and the partner is Olena Mazhuha, who has experience of working at TA Ventures, Citibank, EY and 1+1 Media Group.
It is noted that F1V has already invested almost $43 million in 87 startups, including Liki24, Fintech Farm, VOCHI, and Mate Academy.