ff Venture Capital launches $30M Ukraine-focused fund

ff Venture Capital announced the launch of the ff Blue & Yellow Heritage Fund, the first US venture capital fund for Ukrainian founders and startups. Targeting $50 million, it has already received early commitments for $30 million to support Ukrainian startups, AIN.Capital was told.

• Founded in 2008, ff Venture Capital (ffVC) is an early-stage venture firm with offices in New York and Warsaw. Its portfolio includes over 90 active companies across such technology sectors as applied AI, fintech, insurtech, drones, and robotics.
• The ffVC’s average ticket size is $700,000.
• The new $30 million Blue & Yellow Heritage Fund will invest in startups led by Ukrainian founders, startups relocated from Ukraine, and startups that employ Ukrainian refugees.

“As one of the only US VC firms with established operations in Central and Eastern Europe, ffVC will provide unparalleled access to a business ecosystem to create opportunities across the region. The fund will prioritize providing offices and resources for Ukrainian startups relocating across Central and Eastern Europe and creating jobs for refugees, while accelerating long-term technology development in areas critical to Ukrainian development,”

ffVC’s representatives told.

• ffVC has already invested in Ukrainian startups. In 2019, it led the seed round for Respeecher, a Kyiv-based startup that provides voice-cloning software for content creators and works on prominent projects including The Mandalorian.

“ffVC’s network and expertise has helped Respeecher avoid any disruption of operations and even grow our customer base during the invasion. They’re providing tremendous value not only by accelerating our business, but also by empowering the broader Ukrainian entrepreneurship community,”

Respeecher CEO Alex Serdiuk noted.