Наталя Хандусенко Money 16 June 2026, 16:49

DefenceTech to be funded for the first time: TA Ventures launches new Fund IV with a volume of $35 million

TA Ventures announces launch of new Fund IV with focus on early DPI and global scaling

The decision was a continuation of the fund's systemic strategy after the recent closing of Fund III with a volume of $35 million. Fund III strengthened TA Ventures' position as a global early-stage investor with a diversified portfolio and a systematic international presence. Within the framework of the third fund, 43 investments were made in the US, Europe and Asia. Among the portfolio companies are Blossom, Berry Street, Tarjama, Zeely.ai, Aolani. The fund's key verticals: AI & Applied AI, Enterprise Software, HealthTech, Infrastructure & Industrial Tech, Defence & Dual-Use Technologies.

After closing Fund III, TA Ventures is moving on to the next stage of development — the launch of Fund IV.

“Fund IV is not a change in strategy. It is its next, more mature version. We continue to do what has worked for us for the past 17 years: invest in the strongest founders at early stages and scale the winners. Our approach remains the same: a global search for the best companies, disciplined selection, a focus on winners, and active liquidity management,” comments Victoria Tigipko, founder and managing partner of TA Ventures.

Fund IV is structured with a two-year active investment cycle in 2026–2027. During this period, the fund plans to build a portfolio of approximately 35 companies. The focus of the new fund:

AI & Applied AI;
Enterprise Software;
HealthTech;
Infrastructure & Industrial Tech;
Defense & Dual-Use Technologies;
SpaceTech.

"These are not hype categories — these are technological shifts of the next 10–15 years. It is in these areas that we see one of the biggest opportunities of the next decade," notes Victoria Tigipko.

One of the key principles of Fund IV remains the concentration on companies with the greatest growth potential. A separate focus of Fund IV is early liquidity and Early DPI. TA Ventures systematically works on early exits and secondary liquidity, which allows LPs to receive DPI earlier than in classic venture cycles. The fund plans to begin partially returning capital to investors from the third or fourth year after the fund closes.

“Most funds ask investors to wait 10–12 years. We believe that the new venture cycle will require a different approach. Our LPs are mostly entrepreneurs and active investors. They value not only profitability, but also the opportunity to receive liquidity earlier and reinvest capital in new opportunities,” says Victoria Tigipko.

Another important principle of the fund's work is the high level of personal participation of partners.

“The first fund was 100% financed by my own capital as a family office. In the second fund, the share of partners’ own capital was 55%. Starting from the third fund, it was about 25%. For comparison: in most venture funds in the world, GP commitment is only 1–2%, less often up to 5%. We do not ask investors to take risks where we do not take risks ourselves. This is not marketing, but our model,” emphasizes Victoria Tigipko.

Reference

TA Ventures has been investing since 2010. Today, TA Ventures' portfolio includes 280 investments, 18 unicorn companies with a valuation of over $1 billion, including SumUp, DeepL, Enpal, Wayve, Via, Papaya Global, Commure, Destinus, Xometry, Cast AI, and others. Another 23 companies are in soonicorn status — with a valuation of over $100 million and the potential to become the next unicorns. Among them are Cambrian Biopharma, Platzi, Vay, Yepoda, Rebag, Tandem, Jiji, Wunderflats, Fintech Farm, Vitara, Berry Street, Gameto, Blossom, Aolani, Zeely, Yope, Utorg, and others.

The founder of the investment company TA Ventures told which AI businesses are currently most interesting to investors

TA Ventures invests in Arab AI language solutions company Tarjama