UK-based VC firm with Ukrainian roots 1991 Ventures has launched a $18.8 million fund (£15 million fund) to invest in Ukrainian and CEE startups.
The VC firm aims to support over 40 companies and will build on the Gurskys’ incubation and accelerator programs, according to TechCrunch.
1991 Ventures plans to invest in over 40 companies across the fund’s lifecycle and will build on the incubation and accelerator programs the Gurskyis have been running from Kyiv and now London, which have seen a third secure funding. It is also backed by UK’s limited partners Venrex and Samos Investments, early institutional investors in Seedcamp and Entrepreneur First.
“It’s very hard for Ukrainian founders to tap into London. So we would like to provide them with pre-seed or seed funding so that they can… access larger rounds in the future and understand how the U.K. can be a springboard to global funding,” — Denis Gursky, founding partner of 1991 Ventures, commented.
