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Ukrainian Tech Ventures
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Subscription Amount
$3,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
1.75% per year over 10 years
Carry
0%
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
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Note from Roman Tyan and Sergii Kremeno
As a response to the current political agenda, we are establishing Ukrainian Tech Ventures — a venture fund that will be able to support Ukrainian entrepreneurs who have found themselves in a difficult situation and are now forced to relocate to Europe or the US.
Concept
The main idea behind this fund is to help Ukrainian startup founders build their technology business in a new country efficiently.
Investment Thesis
The fund will invest in early-stage (pre-seed & seed) private technology companies founded by Ukrainian immigrants in the EU & US. Primarily, we will consider b2b solutions that go along with the UN Agenda 2030 and its Sustainable Development Goals.
Founders
Behind Ukrainian Tech Ventures are two founders and partners: Roman Tyan, founder of NRG Ventures, and Sergii Kremeno, serial Ukrainian entrepreneur, ex-founder of Busfor (acquired by BlaBlaCar).
Roman has spent over 15 years in the venture capital business. In particular, he worked at the leading Eastern European venture funds, such as Fort Ross ($110m) and RMI Partners ($500m). Over this time, he gained deep expertise in building startups with a total value of $10bn+. Roman is also a mentor at tier-1 startup accelerators Alchemist (US) and Techstars (EU).
Sergii is a well-known serial IT entrepreneur, originally from Kyiv. Sergii founded Busfor — the leading bus-ticketing platform in Eastern Europe that was acquired by BlaBlaCar for $89m. He is also a co-founder of Apollo — an Intelligent Global Distribution system that provides one API for multimodal trips.
By establishing Ukrainian Tech Ventures, Roman and Sergii combine their deep expertise in venture capital business along with IT entrepreneurship, ensuring the fund’s success.
Venture Fund Experience
The whole concept of Ukrainian Tech Ventures as a social business initiative has been carried out by NRG Ventures — a new generation $150m venture capital fund that operates since April 2021 and has already closed 8 investment deals. The experience, resources, and international network connections of NRG Ventures will contribute greatly to Ukrainian Tech Ventures as well as provide its startups with the possibility of future investments.
NRG Ventures Track Record: +160% annual growth
- UVL Robotics (US) — Drone-based autonomous AI solution for inventory and drone delivery.
- Qvalon (US) — Mobile SaaS for retailers to manage in-store quality, compliance, and staff.
- Inspace (US) — Workplace management platform for hybrid offices.
- AMAI (US) — Ultra-realistic text-to-speech voice engines.
- Yoffix (DE) — A hybrid workplace platform focused on people.
- MotionRay (US) — Global fail-safe decentralized Internet access network for small and medium-sized businesses.
Roman’s Previous Track Record:
Uber (IPO), eToro, Mobeewave (acquired by Apple), Tufin (IPO), Ocon, Arrival, and many others.
Social Mission
Millions of Ukrainian entrepreneurs who are immigrating to Europe and the US may encounter difficulties in attracting capital to their IT startups because of cultural and mentality differences. In order to address this issue, we are willing to become the first institutional investor in these startups. By doing so, we can be the necessary ‘bridge’ that connects these startups with the capital of the leading EU & US funds.
It is important to state that we see Ukrainian Tech Ventures as our social mission to support Ukrainian founders. That is why we do not intend to charge carried interest. Moreover, we will take a reduced management fee, so as to cover our costs only.
LPs Benefits
- This can be one of the most impactful investments you can make now in terms of supporting Ukrainian immigrants
- As an investor, you will not pay any carried interest
- The minimum subscription amount as little as $3,000 quarterly
The Most Successful Ukrainian Startups
- People.ai ($1bn)
- Revolut ($33bn)
- Grammarly ($13bn)
- WhatsApp (acquired by Meta for $19bn)
- GitLab ($5bn, IPO)
- Affirm ($9bn, IPO)
- PayPal ($112bn, IPO)
Roman Tyan and Sergii Kremeno
Investment Details
Subscription Start Date
April 1, 2024
Minimum Quarterly Subscription
$3,000
Minimum Subscription Period
4 Quarters
Management Fee
Investors pay management fees of 1.75% per year for the first 10 years.
Management fees are taken as a percentage of the total committed capital. The total management fee is paid out quarterly over the first
four years of the fund's life.
Carry
Zero percent (0%)
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this Rolling Fund will transition onto updated Rolling Fund pricing terms. Under these new pricing terms, each new quarterly fund in the Rolling Fund Program will pay an annualized rate of $2.5k + 0.2% of contributed capital over 10 years.
Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. The platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
Fees for each quarterly fund in the Rolling Fund Program will vary based on each quarterly fund’s capital contributions since the fee includes a flat fee component. The platform’s average quarterly fund size is $580k. Learn more about how to estimate your commitment’s fees at our help center.
Fund Lead Commitment
Roman Tyan and Sergii Kremeno's personal subscription per quarter will be at least 1% of each quarterly fund's total committed capital in total. Roman Tyan and Sergii Kremeno will satisfy their GP commitment in part by waiving a portion of management fees otherwise owed to them by the fund.
Investor FAQ
How is this program different from venture fund investing?
How do subscriptions work?
How do management and admin fees work?
How does carried interest work?
How do distributions work?
Will a Limited Partner (LP) participate in all investments made by the funds offered through this Program?
Will an LP's percentage ownership of quarterly funds always be the same?
Are LPs guaranteed access to Ukrainian Tech Ventures' future funds?
How are subscriptions funded?
How does changing or canceling a subscription work?
Who manages these funds?
Do funds in this Program have minimum or maximum investment sizes?
What happens if funds in this Program do not invest their total capital each quarter?
When will LPs learn about companies the funds invested in?
Can LPs opt out of specific deals?
Can LPs sell their investment in the fund?
Can LPs redeem their interests in the fund?
When will funds launched under this Program begin deploying capital?
How do I receive tax documents from this Program?
Unanswered questions? Contact AngelList
The performance of past deals or a lead investors' track record is not a guarantee of future returns. Venture capital fund investments are inherently risky and illiquid. Such investments involve a high degree of risk and are suitable only for sophisticated and accredited investors.
AngelList and its affiliates do not provide investment advice to investors. The information on this page should not be relied upon as research, investment advice or a recommendation of any kind. Information on this page is qualified in its entirety by the fund's Limited Partnership Agreement, Private Placement Memorandum and Subscription Agreement, which should be reviewed carefully prior to making an investment decision. Please see these documents for full details regarding risks, minimum investment, fees and expenses. The fund lead and the fund's investment advisor have the right to waive or charge additional carry to certain investors. The fund's legal name may be different from the name used above.
This fund may accept new investors after the fund undergoes a valuation update. Certain potential investors in the fund may then have access to materially different information concerning fund value at the time of their investment.
Current or future portfolio companies in this fund may use AngelList's recruiting platform and may pay an affiliate of the fund's investment adviser for premium recruiting tools and services. This may create a potential conflict of interest for the investment adviser, which you will consent to by subscribing to the fund.
Please read the disclosures in full here.
Apply To Subscribe
Subscription Amount
$3,000+ Quarterly
Subscription Period
4-16 Quarters
Management Fee
1.75% per year over 10 years
Carry
0%
Admin Fee
0.15% per year over 10 years
Starting Q1 2024, this fund will transition onto updated Rolling Fund admin fee pricing terms. See the Investment Details section for more.
Invest Account
Select invest account