Genesis announced the launch of its own investment fund
Ukrainian IT-company Genesis has announced the launch of its own investment fund Genesis Investments. This was announced by CEO of Genesis Media Vitaly Laptenok.
The fund is focused on seed rounds (up to $1 million) and will invest in projects at the level of a prototype, MVP or finished product. Laptenok notes that the company may consider later stages. Among the priority areas are mobile applications, media projects, AI startups and projects in the field of longevity, health and fitness.
“We have accumulated a huge amount of knowledge on the development of product IT-companies that we want to share. Our money is really smart (not at the level of theoretical knowledge). In my opinion, the value of this knowledge is much higher than the value of any money. This is what makes us different from most traditional foundations.
Laptenok notes that the company will provide the necessary infrastructure for the growth of projects “from hiring to registering companies”: “Funders will be able to fully focus on business development, and not on solving legal problems.”