Dominique Piotet announces €50M Ukrainian Phoenix Fund for early-stage projects
Former CEO of Kyiv-based innovation park UNIT.City Dominique Piotet headed Ukrainian Phoenix Fund, a new €50 million French-Ukrainian fund that will invest in early-stage Ukrainian tech startups, Tech.eu informs. AIN.Capital spoke with Dominique Piotet and shares the details.
- The fund was created with the support of the French government and the association of tech companies La French Tech Kyiv, headed by Dominique Piotet. Until the summer of 2022, he held the position of CEO of UNIT.City.
- Ukrainian Phoenix Fund was announced by French President Emmanuel Macron during the Conference for the Resilience and Reconstruction of Ukraine that took place in Paris back in December. It is a port of the digital roadmap signed between Bruno Le Maire, French Minister of Economy, and Denys Shmyhal, Prime Minister of Ukraine.
- Ukrainian Phoenix Fund is currently in the process of raising €50 million. It is interested in early-stage startups at pre-seed and seed stages, but will also follow. The fund is planning to make about 150 investments.
- The investment ticket will amount to €100,000 for startups at the pre-seed stage, €400,000 at seed, and up during follow-on rounds.
- Dominique Piotet does not disclose the LPs, but, according to him, they are largely European and global financial institutions.