Ukraine-founded 1991 Ventures launches a $18.8M fund

UK-based VC firm with Ukrainian roots 1991 Ventures has launched a $18.8 million fund (£15 million fund) to invest in Ukrainian and CEE startups. The VC firm aims to support over 40 companies and will build on the Gurskys’ incubation and accelerator programs, according to TechCrunch.

• 1991 Ventures is a London-based seed venture fund founded by Ukrainian brothers, Denis and Viktor Gurskyi, who are better known for running incubation and accelerator programs inside Ukraine. The Gurskyi brothers previously backed more than 200 startups between 2016 and 2024, via their incubator Social Boost and their 1991 Accelerator.

• In 2019, the Gurskyis created 1991 Mariupol. It is a technology startup center, launched with Ukrainian President Volodymyr Zelenskyi present — served as an outpost of East Ukrainian innovation, giving the frontline port city hope. 

About the new 1991 Fund

1991 Ventures plans to invest in over 40 companies across the fund’s lifecycle and will build on the incubation and accelerator programs the Gurskyis have been running from Kyiv and now London, which have seen a third secure funding. It is also backed by UK’s limited partners Venrex and Samos Investments, early institutional investors in Seedcamp and Entrepreneur First. 

It’s very hard for Ukrainian founders to tap into London. So we would like to provide them with pre-seed or seed funding so that they can… access larger rounds in the future and understand how the U.K. can be a springboard to global funding,

Denis Gursky, founding partner of 1991 Ventures, commented.