The Ministry of Digital Affairs spoke about the "Diya.City Invest" project, which should stimulate the launch of venture funds in Ukraine
How is the state going to help entrepreneurs increase their capital?
How is the state going to help entrepreneurs increase their capital?
Deputy Minister of Digital Transformation Oleksandra Bornyakov, who is responsible for the startup ecosystem, told Forbes about the "Diya.City Invest" project, which should stimulate the launch of venture funds in Ukraine.
"We have a project with the working title "Diya.City Invest". Its goal is to create conditions that make it very easy to open a venture fund using a standard model with general partners (GP), limited partners (LP), mandates, etc.," Bornyakov explained.
He added that "this possibility exists even now, but the last time the legislation in this area was updated was about 10–15 years ago."
According to the Deputy Minister, the project concept is being discussed with the Securities Commission.
"We suggested they simplify the procedure for registering a fund for investments in startups — residents of "Diya.City". The idea is to leave the standard system for large funds, with registration with the commission, a bunch of certificates. And if I attract five or six partners and raise up to $50 million for investments over five years, the system will be simplified," said Oleksandr Bornyakov.
In his opinion, Ukraine's own ecosystem of angels and venture funds did not provide enough capital. It was growing, but in 2014 the war began and there was the first decline, and in 2022 the next one. Therefore, the system is not formed as it should be.
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Will help you become investment-ready. Ukrainian startups at an early stage can participate in the Mission Possible venture program
Will help you become investment-ready. Ukrainian startups at an early stage can participate in the Mission Possible venture program
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