Venrex and Samos Investments Back New Venture:
- U.K.-based limited partners Venrex and Samos Investments support the launch of 1991 Ventures, focusing on Ukrainian-led startups.
- Venrex and Samos Investments are renowned for their early investments in successful startup funds like Seedcamp and Entrepreneur First.
Founders and Fund Details:
- Founded by Ukrainian brothers Denis and Viktor Gursky, known for their work in incubation and accelerator programs within Ukraine.
- Launching with a £15 million ($18.8 million) fund, 1991 Ventures aims to invest in Ukrainian and Central Eastern European (CEE) startup talent.
Investing Amidst Conflict:
- Despite ongoing conflict in Ukraine, the country’s startups continue to thrive, with notable successes emerging even amidst adversity.
- Gursky brothers previously supported over 200 startups, including AXDRAFT, eTolls, and Osavul, showcasing the resilience of Ukrainian entrepreneurship.
Vision and Mission:
- Denis Gursky emphasizes the abundant talent pool in Ukraine and CEE, aiming to create a pipeline of high-quality deal flow for investors.
- LP backers express keen interest in tapping into Eastern European and Ukrainian markets, recognizing their potential.
London as a Springboard:
- 1991 Ventures seeks to bridge the gap for Ukrainian founders accessing London’s startup ecosystem, providing pre-seed and seed funding opportunities.
- The venture aims to facilitate access to larger funding rounds and position the U.K. as a gateway to global investment for Ukrainian startups.
Competition and Landscape:
- Competing with other Ukrainian-born funds like Roosh Ventures, SID Venture Partners, SMRK, Flyer One Ventures, and TA Ventures.
- These funds have already made significant investments in promising startups, contributing to Ukraine’s growing tech ecosystem.
Dual-Use and Defense Technology:
- Anticipating a surge in “dual-use” and defense-related tech startups from Ukraine, with a notable increase in drone manufacturing companies.
- Ukraine’s tech landscape is evolving to address both civilian and defense needs, reflecting the country’s resilience and adaptability.
conclusion
1991 Ventures emerges as a significant player in the Ukrainian startup ecosystem, poised to support and elevate the region’s entrepreneurial talent amidst geopolitical challenges and technological advancements.
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