Ukrainian Venture Capital together with business media Mind.ua presented an Annual Market Overview: a Year of War.
This research covers the period from the beginning of 2022 to the end of the Q1/2023 – five quarters during which Ukraine was engulfed in the flames of war.
Key Points:
Despite the predictions, the Ukrainian venture market has shown remarkable resilience and self-renewal capacity in conditions we have never faced before. The trend is illustrated by the number of investments reaching nearly 200 deals. Moreover, their number has almost doubled compared to 2021 – the last pre-war year. The total investment in projects with Ukrainian roots during the war year exceeded $880 million, but the lion’s share comprised assets in the top five start-ups. This trend has persisted for several years in a row.
The Ukrainian ecosystem has already produced seven unicorns. However, we see similar potential in another 50 companies. Over 20 years, we have built an extensive ecosystem, which gives the potential for growing unicorns. And therefore, it’s worth investing in funds focused on Ukraine. Seventeen funds with a total volume of $1.4 billion have already been fundraising intensively.
Leading startups in raising funds:
- Near ($350 million and $150 million)
- UnstopPable Domains ($65 million)
- airSlate ($51.5 million)
- Preply ($50 million)
The full research is available here
