Feasibility Assessment of Developing and Launching a Venture Capital Fund for Ukraine
This report assesses whether a Ukraine-focused venture capital fund could attract private sector investors. Drawing on over 100 interviews with global investors, the analysis finds almost no appetite for investing in a standalone Ukraine fund due to structural risks: political instability, corruption, lack of investor protections, and an unpredictable macroeconomic environment. The study also identifies ecosystem gaps—like talent shortages, weak bankruptcy laws, and barriers to scaling—that hinder Ukraine’s entrepreneurial growth. It concludes with recommendations, including strengthening legal frameworks, supporting non-tech SMEs, and engaging the diaspora.
This report assesses whether a Ukraine-focused venture capital fund could attract private sector investors. Drawing on over 100 interviews with global investors, the analysis finds almost no appetite for investing in a standalone Ukraine fund due to structural risks: political instability, corruption, lack of investor protections, and an unpredictable macroeconomic environment. The study also identifies ecosystem gaps—like talent shortages, weak bankruptcy laws, and barriers to scaling—that hinder Ukraine’s entrepreneurial growth. It concludes with recommendations, including strengthening legal frameworks, supporting non-tech SMEs, and engaging the diaspora.