Ventures £15M Fund Launches to Empower Ukrainian and CEE Startups with Support from 1991 Ventures

• 1991 Ventures launches £15M fund for Ukrainian and CEE startups
• Fund aims to invest in over 40 companies with global potential
• Founded by Ukrainian brothers Denis and Viktor Gursky
• Builds on their experience with incubation and accelerator programmes
• Backed by limited partners Venrex and Samos Investments

Exploring the Launch of 1991 Ventures £15M Fund

In a significant move for the startup ecosystem in Ukraine and Central Eastern Europe (CEE), 1991 Ventures has unveiled a £15 million fund dedicated to investing in promising startups with global potential. The brainchild of Ukrainian brothers Denis and Viktor Gursky, the industry-agnostic early-stage fund aims to identify and support over 40 companies, continuing the Gurskys’ legacy of fostering innovation in the region.

The Background of 1991 Ventures

The foundations of 1991 Ventures can be traced back to the entrepreneurial journey of Denis and Viktor Gursky, who have been instrumental in shaping the tech landscape in Ukraine. The Gurskys previously established Kyiv-based tech organization SocialBoost and the renowned 1991 Accelerator, which has successfully nurtured more than 200 startups since its inception in 2016. Despite the challenges posed by the Russian invasion of Ukraine, the Gurskys remained steadfast in their mission to support emerging entrepreneurs.

In 2019, the Gurskys embarked on a groundbreaking initiative by launching 1991 Mariupol, a technology startup center aimed at fostering innovation in East Ukraine. The center, inaugurated in the presence of Ukrainian President Volodymyr Zelensky, symbolized hope and resilience in the face of adversity. Tragically, the onset of the invasion led to the destruction of Mariupol, with the Russian military seizing control of the center. Nevertheless, the team behind 1991 Mariupol managed to relocate to safety, underscoring their unwavering commitment to promoting technological advancement in the region.

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Investment Focus and Objectives of the £15M Fund

With the launch of the £15 million fund, 1991 Ventures aims to champion innovation and entrepreneurship by providing crucial financial support to startups in Ukraine and CEE. The fund is geared towards identifying high-potential companies and nurturing them through the critical early stages of development. By leveraging their extensive experience in running successful incubation and accelerator programs, the Gurskys intend to support entrepreneurs in accessing the funding necessary to scale their ventures and make a lasting impact on the global stage.

Denis Gursky, Founding Partner of 1991 Ventures, emphasized the wealth of untapped talent in Ukraine and CEE, underscoring the fund’s mission to showcase the innovative solutions emerging from the region. Viktor Gursky, also a Founding Partner, highlighted the fund’s commitment to backing mission-driven companies that drive market evolution through groundbreaking ideas and visionary leadership. By providing a bridge to the UK market, 1991 Ventures aims to position Ukrainian and CEE startups for international success, leveraging the expertise and resources available in the global tech ecosystem.

Partnerships and Support for 1991 Ventures

The £15 million fund launched by 1991 Ventures has garnered support from key investors, including limited partners Venrex and Samos Investments. These early institutional investors, with a track record of backing successful programs such as Seedcamp and Entrepreneur First, bring valuable expertise and resources to the table, further bolstering the fund’s potential for driving innovation and growth in the startup landscape.

The launch of the £15 million fund by 1991 Ventures represents a significant milestone in the evolution of the startup ecosystem in Ukraine and CEE. By providing crucial funding and support to emerging entrepreneurs, the Gurskys are paving the way for a new wave of innovation and technological advancement in the region. As the fund begins its journey to identify and nurture promising startups, the impact of 1991 Ventures is poised to resonate far beyond national borders, shaping the future of entrepreneurship on a global scale.