A venture investment fund will appear under Ukrainian business incubator Happy Farm. The fund will work in partnership with the incubator. The announcement was made at a recently held roundtable discussion on the venture capital development in Ukraine.
Michael Miroshnichenko, the fund’s partner, says that the new fund will include American and Ukrainian private investors with experience in the development of Ukrainian and American projects.
The size of the fund will be $5M-$10M primarily available to Ukrainian projects. It is initially planned to invest in seed-stage projects only, however, one of the fund’s principles will be the support of projects throughout their life cycle.
The size of one investment will range from $30K to $300K given that one project can be invested in several stages. Happy Farm business incubator will assist the fund in projects selection. We will use Happy Farm’s selection instruments in the work of the fund, since the incubator has well-established business processes. We do not plan to conduct an open acceptance of applications, there are many ideas coming from different countries: Ukraine, Belarus, USA, Russia, Moldova, - Michael Miroshnichenko says.