What is Ukrainian Venture Capital and Private Equity Association (UVCA) Olga Afanasyeva
Ukrainian Venture Capital and Private Equity Association (UVCA) shapes the future direction of the venture capital and private equity industry in Ukraine by promoting its investment opportunities, advocating the interests of private equity investors to policymakers, and improving the local investment and business climate.
• Established by the example of Invest Europe, UVCA currently unites almost 50 members – leaders of the international and Ukrainian investment markets: Almaz Capital, AVentures Capital, Deloitte, Digital Future, Horizon Capital, HP Tech Ventures, Intel Capital, EBRD etc. Our members invest not only capital, but also expertise and innovation, providing strong and sustainable growth to portfolio companies - from startups to established businesses.
• By building bridges between Ukrainian and global ecosystems, UVCA facilitates the motion of knowledge and capital in both directions.
• UVCA makes a constructive contribution to shaping legislation on both pan-industry and sector-specific scales that affect LPs, GPs, and their portfolio companies
• UVCA is a nonprofit organization with the head office in Kyiv, Ukraine, and members from all across Europe, USA, Ukraine etc.
There were 87 investment deals with Ukrainian innovative companies in 2016 , which is 32% more than in 2015 - such a data was presented by the Ukrainian Venture Capital and Private Equity Association (UVCA) in its annual market overview. The overview has gathered information on venture, private equity and angel investment deals - their total volume is accounted in 88 mln. USD in 2016. The amount of investments over the past 5 years growth to 400 mln. At the same time, the volume of investment deals decreased on 33% since 2015 (including 13 undisclosed deals), but still is higher than in 2014 at 125%. The reason is few deals in 2015 amounted in dozens of millions.
Distinguishing feature of the market in 2016 is the prevalence of seed-stage deals. Thereby among all deals 73 were made at the seed-stage with the average amount of ticket over 500K USD. So we can expect that these initially invested companies will attract bigger investments in future.
The average ticket amount (on all stages) has grown up to 1M USD in 2016.
Ukrainian Venture Capital and Private Equity Association (UVCA) in partnership with Deloitte, presented its annual Overview of Ukrainian investment market. Following a dip in 2016, the data for 2017 indicates that the total amount of venture capital investment in Ukrainian IT companies has reached its peak totaling $259 million, tripling compared to the previous year. Although in line with the global trend of shifting investors’ focus from quantity to quality, the number of deals remains at about the same level with 89 deals.
For the first time, the Overview also covers two additional segments on the top of private capital trends: private equity deals and ICO.
2017 was an exceptional year for private equity investments due to a relative rise in activity, compared to the last 3 years, when the average number of deals did not exceed 4. The value of PE deals in Ukraine totals $ 126.7m, and numbers at 14, however, the deals were undisclosed.
Initial Coin Offering (ICO) financing is the new trend in attracting investments by Ukrainian startups. 19 startups succeeded in attracting $160m within ICO in 2017. Moreover, VC funds focused solely on crypto-related businesses emerged, establishing stronger ties between private capital and blockchain. Neuromation ($71M), Dmarket ($19,1M) and Propy marketplace ($15,4M) were the top 3 ICOs from Ukraine in 2017.
Tech Ecosystem of Ukraine 2019. Insights, facts, companies you wanted to knowKirill Mazur
Ukraine's tech ecosystem is booming.
Last 5 years have become history-changing for Ukraine. With its 185 000 tech specialists, a few thousand startups, first unicorns, first innovation district and 20% average annual tech workforce growth, Ukraine is facing a prominent creative revolution in many areas.
In 2019, UNIT.City team together with partners has launched the guide about key things you should know about innovations in Ukraine.
Ukrainian Venture Capital and Private Equity Association
(UVCA) was established to spread the word about
Ukraine’s achievements and opportunities and to support
investors in every aspect, from providing reliable
information to establishing international connections at the
industry and government levels.
Overview of Top Ukraine’s ICOs is the first-ever analytical research of the most successful Ukrainian projects, which made a public offer of tokens, created by joined forces of the Ukrainian Venture Capital and Private Equity Association UVCA and the Ukrainian company Hacken with the support of the Ministry of Digital Transformation.
The research shows the potential of the crypto industry of Ukraine. Ukrainian startups attracted $ 171 million in investments by cryptocurrency fundraising.
Overview of Top Ukraine’s ICOs reveals the crypto market capitalization, the features of Ukrainian companies and their tokens, the number of funds raised, and the social media community.
The Ukrainian Venture Capital and Private Equity Association (UVCA) and the audit and consulting company Kreston Ukraine present the “Ukraine venture capital and private equity markets 2020” annual review, which also includes data for 8 months of 2021.
According to the results of 2020, Ukrainian technology companies and their investors closed 188 deals with investors worth USD 533.5 million. About 50% of the deals are small grants (25 and 50 thousand USD) from the Ukrainian Startup Fund. For 2020—2021, it has invested USD 5.3 million in Ukrainian projects.
Just three years ago, Ukraine did not have a single unicorn among its startups. Nowadays, as many as five of them — Gitlab, Grammarly, Bitfury, People.ai, and Ring — raised USD 1.3 bln funding and dominate the global market.
In this review, we analysed the key market trends, such as “investment focus on software projects”, “increase of foreign investors in the Ukrainian market”, “growing quality of Ukrainian startups and their interest in smart money” for the first time. The key drivers and barriers to market development were identified — the respondents noted that despite the imperfect regulatory framework, the country still has enough private capital to promote the sector.
Generally, all market players are unanimous in their outlooks and are quite optimistic about further market development. According to 81% venture and 67% private equity investors surveyed, all quantitative indicators are likely to grow, and high-tech industries traditionally represent the most promising ones.
Ukrainian investors primarily point to the experience and qualification of the team (according to 94% venture and 17% private equity investors surveyed) and the market potential of the business idea (according to 82% venture and 83% private equity investors surveyed), among the key factors for investment decisions. On the other hand, when choosing an investor, startups consider their industry expertise, investment terms, and ‘smart money’ they can get.
The study results show that Ukrainian companies offer attractive, relevant, and globally competitive solutions and demonstrate sustainability and adaptability in COVID-19. Ukraine is gradually transforming from a talent and idea exporter into a big international venture capital market player.
UVCA (Ukrainian Venture Capital and Private Equity Association) was established in 2014 and unites more then 35 members. The association promotes investment opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and business climate, implements Invest in Ukraine activity
What is Ukrainian Venture Capital and Private Equity Association (UVCA) Olga Afanasyeva
Ukrainian Venture Capital and Private Equity Association (UVCA) shapes the future direction of the venture capital and private equity industry in Ukraine by promoting its investment opportunities, advocating the interests of private equity investors to policymakers, and improving the local investment and business climate.
• Established by the example of Invest Europe, UVCA currently unites almost 50 members – leaders of the international and Ukrainian investment markets: Almaz Capital, AVentures Capital, Deloitte, Digital Future, Horizon Capital, HP Tech Ventures, Intel Capital, EBRD etc. Our members invest not only capital, but also expertise and innovation, providing strong and sustainable growth to portfolio companies - from startups to established businesses.
• By building bridges between Ukrainian and global ecosystems, UVCA facilitates the motion of knowledge and capital in both directions.
• UVCA makes a constructive contribution to shaping legislation on both pan-industry and sector-specific scales that affect LPs, GPs, and their portfolio companies
• UVCA is a nonprofit organization with the head office in Kyiv, Ukraine, and members from all across Europe, USA, Ukraine etc.
There were 87 investment deals with Ukrainian innovative companies in 2016 , which is 32% more than in 2015 - such a data was presented by the Ukrainian Venture Capital and Private Equity Association (UVCA) in its annual market overview. The overview has gathered information on venture, private equity and angel investment deals - their total volume is accounted in 88 mln. USD in 2016. The amount of investments over the past 5 years growth to 400 mln. At the same time, the volume of investment deals decreased on 33% since 2015 (including 13 undisclosed deals), but still is higher than in 2014 at 125%. The reason is few deals in 2015 amounted in dozens of millions.
Distinguishing feature of the market in 2016 is the prevalence of seed-stage deals. Thereby among all deals 73 were made at the seed-stage with the average amount of ticket over 500K USD. So we can expect that these initially invested companies will attract bigger investments in future.
The average ticket amount (on all stages) has grown up to 1M USD in 2016.
Ukrainian Venture Capital and Private Equity Association (UVCA) in partnership with Deloitte, presented its annual Overview of Ukrainian investment market. Following a dip in 2016, the data for 2017 indicates that the total amount of venture capital investment in Ukrainian IT companies has reached its peak totaling $259 million, tripling compared to the previous year. Although in line with the global trend of shifting investors’ focus from quantity to quality, the number of deals remains at about the same level with 89 deals.
For the first time, the Overview also covers two additional segments on the top of private capital trends: private equity deals and ICO.
2017 was an exceptional year for private equity investments due to a relative rise in activity, compared to the last 3 years, when the average number of deals did not exceed 4. The value of PE deals in Ukraine totals $ 126.7m, and numbers at 14, however, the deals were undisclosed.
Initial Coin Offering (ICO) financing is the new trend in attracting investments by Ukrainian startups. 19 startups succeeded in attracting $160m within ICO in 2017. Moreover, VC funds focused solely on crypto-related businesses emerged, establishing stronger ties between private capital and blockchain. Neuromation ($71M), Dmarket ($19,1M) and Propy marketplace ($15,4M) were the top 3 ICOs from Ukraine in 2017.
Tech Ecosystem of Ukraine 2019. Insights, facts, companies you wanted to knowKirill Mazur
Ukraine's tech ecosystem is booming.
Last 5 years have become history-changing for Ukraine. With its 185 000 tech specialists, a few thousand startups, first unicorns, first innovation district and 20% average annual tech workforce growth, Ukraine is facing a prominent creative revolution in many areas.
In 2019, UNIT.City team together with partners has launched the guide about key things you should know about innovations in Ukraine.
Ukrainian Venture Capital and Private Equity Association
(UVCA) was established to spread the word about
Ukraine’s achievements and opportunities and to support
investors in every aspect, from providing reliable
information to establishing international connections at the
industry and government levels.
Overview of Top Ukraine’s ICOs is the first-ever analytical research of the most successful Ukrainian projects, which made a public offer of tokens, created by joined forces of the Ukrainian Venture Capital and Private Equity Association UVCA and the Ukrainian company Hacken with the support of the Ministry of Digital Transformation.
The research shows the potential of the crypto industry of Ukraine. Ukrainian startups attracted $ 171 million in investments by cryptocurrency fundraising.
Overview of Top Ukraine’s ICOs reveals the crypto market capitalization, the features of Ukrainian companies and their tokens, the number of funds raised, and the social media community.
The Ukrainian Venture Capital and Private Equity Association (UVCA) and the audit and consulting company Kreston Ukraine present the “Ukraine venture capital and private equity markets 2020” annual review, which also includes data for 8 months of 2021.
According to the results of 2020, Ukrainian technology companies and their investors closed 188 deals with investors worth USD 533.5 million. About 50% of the deals are small grants (25 and 50 thousand USD) from the Ukrainian Startup Fund. For 2020—2021, it has invested USD 5.3 million in Ukrainian projects.
Just three years ago, Ukraine did not have a single unicorn among its startups. Nowadays, as many as five of them — Gitlab, Grammarly, Bitfury, People.ai, and Ring — raised USD 1.3 bln funding and dominate the global market.
In this review, we analysed the key market trends, such as “investment focus on software projects”, “increase of foreign investors in the Ukrainian market”, “growing quality of Ukrainian startups and their interest in smart money” for the first time. The key drivers and barriers to market development were identified — the respondents noted that despite the imperfect regulatory framework, the country still has enough private capital to promote the sector.
Generally, all market players are unanimous in their outlooks and are quite optimistic about further market development. According to 81% venture and 67% private equity investors surveyed, all quantitative indicators are likely to grow, and high-tech industries traditionally represent the most promising ones.
Ukrainian investors primarily point to the experience and qualification of the team (according to 94% venture and 17% private equity investors surveyed) and the market potential of the business idea (according to 82% venture and 83% private equity investors surveyed), among the key factors for investment decisions. On the other hand, when choosing an investor, startups consider their industry expertise, investment terms, and ‘smart money’ they can get.
The study results show that Ukrainian companies offer attractive, relevant, and globally competitive solutions and demonstrate sustainability and adaptability in COVID-19. Ukraine is gradually transforming from a talent and idea exporter into a big international venture capital market player.
UVCA (Ukrainian Venture Capital and Private Equity Association) was established in 2014 and unites more then 35 members. The association promotes investment opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and business climate, implements Invest in Ukraine activity
Ukraine will once again showcase its IoT and innovation achievements to the world.
For the second time in a row Ukrainian Venture Capital and Private Equity Association (UVCA) together with Western NIS Enterprise Fund (WNISEF) are organizing the UA TECH Expo Zone at Consumer Electronics Show (CES) - one of the largest consumer electronics conferences, which will be held on January 9-12 in Las Vegas.
Ukraine Dealbook IT and Internet Market 2012-14Yevgen Sysoyev
The comprehensive overview of venture market in Ukraine and all tech deals in 2012-14, overview of key trends, players and Ukrainian venture ecosystem
Subscribe to @YevgenSysoyev to receive updates
Downloadable version is here:
http://www.ewdn.com/files/ua_dealbook.pdf
Key findings:
https://prezi.com/y_gg35xswhcr/the-deal-book-of-ukraine/
RMG Russian Venture Capital Market Overview 2Q2013Boris Orlovetsky
Rye, Man & Gor Securities is pleased to present the first issue of the Russian Venture Capital Market Overview, which includes a rundown of Russia’s venture capital market and an industry focus dedicated to the cloud technology market.
Investors Book 2021 - catalog for investors and startups that will allow them to connect in a reliable, efficient way to make ‘perfect match’.
The Investors Book 2021 was created by the Ukrainian Venture Capital and Private Equity Association (UVCA) supported by the USAID through its Competitive Economy Program in Ukraine (USAID CEP) and the Ministry of Digital Transformation of Ukraine.
For optimized reading: http://www.uadn.net/files/ua_hightech.pdf
A comprehensive 250-page review of software R&D and IT outsourcing activities in Ukraine, the country with the largest number of software engineers in CEE. http://www.uadn.net/files/ua_hightech.pdf
This is a comprehensive analysis of the IT sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian IT. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
All you wanted to know about Ukrainian Tech.
UKRAINE: Europe’s biggest Tech country
Ukraine is a blooming tech talent pool. We power global tech engines. It’s BRAINing here.
Entrepreneurship hub: Start easy, develop fast, grow global with Ukraine. The land of tech freedom.
World’s R&D lab. Everything is TECHable with Ukraine.
Check the presentation to find out more.
On January 2017, the whole technological world was showing up the best innovations at the 50-th International Consumer Electronic Show (СES-2017), which every year takes place in Las Vegas and attracts more than 200 thousands visitors from all the globe. This year, for the first time in the history of CES Ukraine organized its national expo, where the brightest startups presented their products. UaTech Expo Zone was jointly organized by the Ukrainian Venture Capital and Private Equity Association (UVCA) and Western NIS Enterprise Fund (WNISEF).
Presentation by Yevgen Sysoyev at U.S. Ukraine Business Forum in Washington D.C. on 13 July 2015. Overview of Ukrainian software tech sector and its role in the global tech ecosystem
Ukrainian Venture Capital and Private Equity Association (UVCA) – was established in mid-2014 and unites more than 40 members - private equity and venture funds, accelerators, incubators, educational institutions, and non-government organizations that make significant impact on the development of Ukrainian investment market. Association promotes investment opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and business climate, implements Invest in Ukraine activity. UVCA aims to remove the gap, by channeling the power of its network into better awareness and investment climate by proving that it is worthwhile to INVEST IN UKRAINE.
Ukraine will once again showcase its IoT and innovation achievements to the world.
For the second time in a row Ukrainian Venture Capital and Private Equity Association (UVCA) together with Western NIS Enterprise Fund (WNISEF) are organizing the UA TECH Expo Zone at Consumer Electronics Show (CES) - one of the largest consumer electronics conferences, which will be held on January 9-12 in Las Vegas.
Ukraine Dealbook IT and Internet Market 2012-14Yevgen Sysoyev
The comprehensive overview of venture market in Ukraine and all tech deals in 2012-14, overview of key trends, players and Ukrainian venture ecosystem
Subscribe to @YevgenSysoyev to receive updates
Downloadable version is here:
http://www.ewdn.com/files/ua_dealbook.pdf
Key findings:
https://prezi.com/y_gg35xswhcr/the-deal-book-of-ukraine/
RMG Russian Venture Capital Market Overview 2Q2013Boris Orlovetsky
Rye, Man & Gor Securities is pleased to present the first issue of the Russian Venture Capital Market Overview, which includes a rundown of Russia’s venture capital market and an industry focus dedicated to the cloud technology market.
Investors Book 2021 - catalog for investors and startups that will allow them to connect in a reliable, efficient way to make ‘perfect match’.
The Investors Book 2021 was created by the Ukrainian Venture Capital and Private Equity Association (UVCA) supported by the USAID through its Competitive Economy Program in Ukraine (USAID CEP) and the Ministry of Digital Transformation of Ukraine.
For optimized reading: http://www.uadn.net/files/ua_hightech.pdf
A comprehensive 250-page review of software R&D and IT outsourcing activities in Ukraine, the country with the largest number of software engineers in CEE. http://www.uadn.net/files/ua_hightech.pdf
This is a comprehensive analysis of the IT sector in Ukraine. It is an integrated guide for perspective investors who are exploring opportunities in Ukraine. The report includes key figures characterizing the market, as well as information about the ongoing projects. This report also contains the list of forthcoming reforms and policy development needed to boost Ukrainian IT. The report was prepared by the Office of the National Investment Council of Ukraine and presented at the Council meeting in Kyiv, on May 25, 2018
All you wanted to know about Ukrainian Tech.
UKRAINE: Europe’s biggest Tech country
Ukraine is a blooming tech talent pool. We power global tech engines. It’s BRAINing here.
Entrepreneurship hub: Start easy, develop fast, grow global with Ukraine. The land of tech freedom.
World’s R&D lab. Everything is TECHable with Ukraine.
Check the presentation to find out more.
On January 2017, the whole technological world was showing up the best innovations at the 50-th International Consumer Electronic Show (СES-2017), which every year takes place in Las Vegas and attracts more than 200 thousands visitors from all the globe. This year, for the first time in the history of CES Ukraine organized its national expo, where the brightest startups presented their products. UaTech Expo Zone was jointly organized by the Ukrainian Venture Capital and Private Equity Association (UVCA) and Western NIS Enterprise Fund (WNISEF).
Presentation by Yevgen Sysoyev at U.S. Ukraine Business Forum in Washington D.C. on 13 July 2015. Overview of Ukrainian software tech sector and its role in the global tech ecosystem
Ukrainian Venture Capital and Private Equity Association (UVCA) – was established in mid-2014 and unites more than 40 members - private equity and venture funds, accelerators, incubators, educational institutions, and non-government organizations that make significant impact on the development of Ukrainian investment market. Association promotes investment opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and business climate, implements Invest in Ukraine activity. UVCA aims to remove the gap, by channeling the power of its network into better awareness and investment climate by proving that it is worthwhile to INVEST IN UKRAINE.
Kreston Ukraine, together with Ukrainian Venture Capital and Private Equity Association (UVCA), AVentures, and ISE Corporate Accelerator, is pleased to present the results of the annual Ukraine Deal Review 2021, also covering 3 months of 2022.
In 2021, Ukrainian startups attracted venture capital investments worth USD 779.6 million, 46% more than in 2020. Like in a previous period, Ukrainian Startup Fund (USF) accounted for about half of the deals (47%). Investments attributed to private equity reached 82.8 million USD, and these are only agreements with the disclosed amount.
In 2021, six new players joined the Ukrainian venture capital market. GEEK Ventures, SID Venture Partners, ZAS Ventures, ANCHOR, and PAWA offer Ukrainian startups financing of around USD 0.5 million, along with their experience and expertise. World-renowned companies also did not ignore Ukraine last year: 19 of them opened their R&D centers, offices, and engineering hubs in Ukraine.
In the first quarter of 2022, the development of private technology investment markets did not halt despite the large-scale Russian aggression. In January–March 2022, 11 venture capital deals of USD 11.5 mln, 3 private equity deals of USD 4 mln, and 8 exits of USD 135 mln already took place. International companies went on establishing new R&D centers and offices in Ukraine. In addition, global technology companies, EU countries, and Ukrainian IT communities have offered Ukrainian startups several support programs.
The DealBook is our annual overview of the Ukrainian tech investment industry. This edition comprehensively covers the full year 2023 and the first deals of 2022.
Важные причины инвестировать в Украину именно сегодня от Horizon CapitalKira Ivanova
Важные причины инвестировать в Украину именно сегодня от Horizon Capital
Инвестиционный фонд Horizon Capital сделал презентацию, которая показывает возможности Украины и призывает инвестировать в Украину прямо сейчас.
В Horizon Capital объясняют, какие перспективы есть у Украины, откуда они берутся, что нужно сделать в стране и какое будущее ее ожидает. В презентации кратко описаны также возможности и риски для инвестора, который отважится вложить деньги в Украину. В Horizon это называют "ground-floor investment opportunity".
Кризис – это не только проблемы, но и новые возможности!
Спасибо Horizon Capital за материалы.
Важливі причини інвестувати в Україну саме сьогодні від Horizon Capital
Інвестиційний фонд Horizon Capital зробив презентацію, яка показує можливості України та закликає інвестувати в Україну прямо зараз.
У Horizon Capital пояснюють, які перспективи має Україна, звідки вони беруться, що потрібно зробити в країні та яке майбутнє її чекає. У презентації коротко описані також можливості та ризики для інвестора, який наважиться вкласти гроші в Україну. В Horizon це називають "ground-floor investment opportunity".
Криза - це не тільки проблеми, але й нові можливості!
Дякуємо за матеріали Horizon Capital.
Ukraine 2015: A ground-floor opportunity at the EU’s frontier – Horizon Capital
Horizon Capital has developed and shared a comprehensive, data-rich report entitled “Ukraine 2015: A ground-floor opportunity at the EU’s frontier”.
The youngest, most pro-business government in the history of modern Ukraine is driving a bold structural reform agenda that is both the right thing to do for the country as well as the clear demand of an active, engaged civil society. From a business perspective, the lasting competitive advantages in export-focused sectors, such as IT, Agriculture, Food and others, open up exciting investment opportunities, made even more compelling by very attractive valuations.
Thais is a brief version of the Horizon Capital presentation.
http://horizoncapital.com.ua/sites/default/files/horizon_capital_press_release_july_24_2015_english.pdf
Over the last few years, we have become increasingly focused on the burgeoning ecosystem developing in Central and Eastern Europe, and as an affirmation for our support for this region, we are very happy to share our latest report covering one of its key hubs, Poland. Our report unpacks the current progress and outlook for Poland, using our ecosystem model to highlight Poland’s unique positioning in an increasingly global playing field for startups as well as interviews from Wojciech Sadowski, co-founder and CEO of Packhelp and Piotr Pisarz, co-founder and CEO of Uncapped, showcasing their views on the future of the ecosystem.
Over the last few years, we have become increasingly focused on the burgeoning ecosystem developing in Central and Eastern Europe, and as an affirmation for our support for this region, we are very happy to share our latest report covering one of its key hubs, Poland. Our report unpacks the current progress and outlook for Poland, using our ecosystem model to highlight Poland’s unique positioning in an increasingly global playing field for startups as well as interviews from Wojciech Sadowski, co-founder and CEO of Packhelp and Piotr Pisarz, co-founder and CEO of Uncapped, showcasing their views on the future of the ecosystem.
Giorgio Anania Photonics Venture Capital Initiatives in Europe Financing Phot...EPIC Photonics Investing
Photonics is a key pervasive technology that enables innovative and revolutionary solutions and products in diverse markets such as lifescience, agrofood, healthcare, security, defence, consumer, environment, energy, telecom/datacom…
The photonics industry is going through a transformation due to the maturity of the technologies and the fact that the implementation of these mature technologies is economically viable. The industry is going through numerous acquisitions, and there are many companies raising capital (www.epic-assoc.com/funding/venture-finance – spreadsheets “List of investments in photonics” & “List of M&A in photonics”).
Yet the photonics industry is hard to navigate both because of the vast amount of companies (there are 5000 companies in Europe involved in Photonics but 86% of them are SMEs), and the intrinsic fact that there are no ‘photonics’ companies but rather companies that develop sensors, lasers, optics, fibres, photonic integrated circuits, …
European Investment Fund, Invest Europe : Data-driven insights about VC-backe...Amalist Client Services
EUR 51bn in nearly 9000 Venture Capital-invested firms in 2007-15 : analyse their characteristics as well as subsequent performance.
VC cannot change the business reality where some firms make it while others cannot, but it can be the deciding factor in a start-up’s road to success. venture capital may not be that impactful for low growth companies.
December 2019
Current State of Crowdfunding in Europe - review 2016MichalGromek
An Overview of the Crowdfunding Industry in more than 25 Countries: Trends, Volumes & Regulation
The alternative finance industry is a vibrant industry that develops very quickly. Community shares, civic crowdfunding, real estate crowdfunding and marketplace lending are examples of the developments that take place in the industry. We didn’t include these kind of developments in this research, but we are sure that in future reports we can’t ignore these new phenomena. For now, it was a challenge enough to collect information about the four mainstream types of crowdfunding.
For this research we worked together with more than 30 experts in all the European countries and asked them to provide us with reports and data about the crowdfunding industry in their country and give us their insights and views on the industry. We also asked them to share their knowledge about existing and upcoming regulations. We want to emphasize that by no means we intent to give legal advice in this report.
Please visit : http://www.crowdfundinghub.eu/ for more information and subscribe for upcoming reports
2014 Developments in Ukrainian IT sector, Yevgen Sysoyev @ IDCEE2014Yevgen Sysoyev
2014 Developments in Ukrainian IT sector, overview of venture capital market in Ukraine. Announce of Dealbook Ukraine. By Yevgen Sysoyev, managing partner of AVentures Capital @ IDCEE2014
UkraЇnvest is a framework developed by a public initiative volunteers for creating a nationwide Investment Promotion Agency which offers a full range services for foreign investors
This article investigates capital markets in Sub-Saharan Africa, their opportunities and risks. The article compares their depth, liquidity, investment opportunities and risk profile. While the capital need is there, the market is often more readily suited for FDI than portfolio investors.
Key findings of EBAN’s annual statistics for the year 2015 include:
Taking into account angel investment data from both 2014 and 2015, EBAN estimates the European early-stage market at €8.6 billion, with Angel Investing representing approximately €6.1 billion in 2015.
Según el estudio elaborado por el EBAN, con relación al año 2013 la inversión angel ha crecido un 8,3%, aumentando en 6,1 millones de euros en Europa. La comunidad de inversores ha crecido hasta los 303.650 inversores, que en el año 2015 cerraron 32.940 operaciones. En relación a los países europeos, el reino unido sigue siendo el país líder en inversiones, mientras que España ha ocupado el segundo lugar los dos últimos años, con 55 millones de inversión angel en 2015
The DealBook is our annual overview of the Ukrainian tech investment industry. This edition comprehensively covers the full year 2021 and the first deals of 2022
Similar to Ukrainian Venture Capital and Private Equity Overview 2015 (20)
2. SPECIAL THANKS
Volodymyr Nesterenko, Digital Future
Marianna Yarosh, Noosphere Ventures
Yevgen Sysoyev, AVentures Capital
Yuliya Sychikova, AVentures Capital
Bogdan Zakharkiv, InVenture
Roman Didukh, Empire State Capital Partners
Alexander Romanishyn, EY Ukraine
Iegor Vernoslov, EY Ukraine
3. Foreword
Ukrainian Venture Capital & Private Equity Overview 2015 3
Andrey Kolodyuk,
Chairman of the Supervisory
Board of the Ukrainian Venture
Capital and Private Equity
Association, Managing Partner of
AVentures Capital
Over the recent years, Ukraine has appeared on the investors’ radars as a source of target companies with
globally oriented, competitive products. There are literally two investments being closed per week and
the number of deals is three times higher than five years ago. Around one half of the capital invested has
foreign origins.
The mission of Ukrainian Venture Capital and Private Equity Association (UVCA) is to spread the word about
Ukraine’s achievements and opportunities and to support investors in every aspect, from providing reliable
information to establishing international connections at the industry and government levels. On the other
hand, blossoming local technology sector have triggered emergence of new local investors, who certainly
benefit from the western peers sharing their expertise and best practices. By building a bridge between
Ukrainian and global ecosystems, UVCA facilitates the motion of knowledge and capital in both directions.
An important part of integration into global market is availability and reliability of local data. UVCA
members and partners have done great job collecting and structuring information about investment deals.
This year we started gathering information from directly form fund managers and we look forward to
inclusion of that data into the European dataset that is maintained by InvestEurope (formerly European
Venture Capital Association). The report also includes industry outlook by UVCA members, which would be
useful for foreign investors considering exposure to Ukraine in the nearest future.
Already at a top of European IT outsourcing charts and being a prolific source of international startups,
Ukraine is gaining more attention from global investors, but still remains an undercapitalized market
compared to other European countries. We at UVCA are eager to remove the gap, by channeling the power
of our network into better awareness and investment climate and by proving that it is worthwhile to
INVEST IN UKRAINE.
4. 2015 Industry Snapshot
4
active private equity* investors present in Ukraine in different forms, from deal participation to location of their teams and/
or funding sources. Besides active investor universe (we counted only the firms and angel investors who made at least one
investment during 2015), there are up to an estimated 20 market players who invested prior to 2015 but remained idle last
year. Out of 60 investors, there were 24 VC Funds, 5 PE Funds, 2 Family Offices, 8 corporate investors and 9 angels that
participated in the 2015 deals. On top of that, we have noted up to 20 angel investors, who had not disclosed their names.
overall value of the PE/VC deals in 2015, a remarkable 3x growth over 2014. Relative to GDP, PE investments into Ukrainian
companies increased from 0.10% in 2010 to 0.16%, which is close to the upper level for CEE countries, with only Poland
having a higher ratio (0.19%).
deals in 2015, the volume being attributable mainly to the venture deals (62) with a focus on seed stage (58 deals).
Growth capital deals, however, made the last year’s investment in value ($101 mln).
of capital provided by local investors (defined by either of HQ location or the source of funds) in 2015. With their share
consistently close to 1/2, local money goes nose to nose with foreign funds during the last 5 years.
average deal size at seed stage. Seed deals continue to account for virtually all the venture volume, yet the size of an
average seed deal doubled compared to 2014, indicating investors preference for a late seed opportunities.
* here and throughout the report, “private equity” is used as a common term for Venture and Growth Capital
$400k
52%
66
$132m
60
Ukrainian Venture Capital & Private Equity Overview 2015
5. 5
In 2015, the $100 mln of Growth funding (on the back of lower
GDP in dollar terms), pushed Ukraine nearly to the top of the CEE
ranking by the ratio of PE investments relative to GDP. For the
world’s most technologically advanced nations like Israel and U.S.
this was as high as 1.19% and 0.32%, respectively, and the
European average was at 0.30%.
• The value of deals marked an all-time high, $132 mln.
• The ratio of PE investments to GDP jumped to 0.16%, leaving
behind most of the CEE countries, save for Poland (0.19%)
• The number of deals was down by 23%, while average ticket
increased to $1 mln.
* includes ex-Yugoslavia countries
Source: Europe - EVCA, Ukraine estimates - UVCA based on "Dealbook of Ukraine 2014-2015” by Ukraine Digital News
Private Equity investments as % of GDP, 2015
Ukraine is now #2 in CEE by PE investments to GDP
Ukrainian Venture Capital & Private Equity Overview 2015
6. • Total capital invested: $132
mln, 237% up over 2014
• Venture stage: $31 mln, -20% y/y
• Growth stage: $101 mln
Source: "Dealbook of Ukraine 2014-2015” by Ukraine Digital News and AVentures Capital
Private Equity investments in 2010-2015, $ mln
Investments up 237% on sizable growth-stage deals
* Local investors are defined as those
either managed from Ukraine, or their
funds are sourced from Ukraine, or both
• Local investors*: 52%
6
$million
Seed Round BRound A Growth
Ukrainian Venture Capital & Private Equity Overview 2015
7. • Total number of deals in 2015: 66
• Venture stage: 62 deals (mainly
seed funding), -24 vs 2014
• Growth stage: 4 (none in 2014)
Source: "Dealbook of Ukraine 2014-2015” by Ukraine Digital News and AVentures Capital
Total number of deals, 2010-2015
Fewer deals, higher average tickets
• Local investors: 34 (45 in 2014)
7
Numberofdeals
Seed Round BRound A Growth
• Average ticket: around $1 mln,
$0.4 in seed segment and $2 mln
in Series A rounds
Ukrainian Venture Capital & Private Equity Overview 2015
8. • Higher tickets in the same market point to later stage investments. The
responses obtained by a joint survey by EY Ukraine and UVCA indicate
that the investors’ demand for later stages is going to increase further in
2016.
Source: EY Ukraine & UVCA Investor Survey, April 2016
Amount invested in 2015 and the plan for 2016 (# responses)
Fewer deals, but higher tickets
8
2014
actual
2015
plan
Typical
Early Seed
$ range
Typical
Late Seed
$ range
Ukrainian Venture Capital & Private Equity Overview 2015
9. Looksery: Founders’ exit of the year
Deal type: Corporate Buyout
Buyer: Snapchat
Deal Value: $150 mln (est.)
Acquision of Looksery by Snapchat marked the largest deal in Ukraine’s IT sector in 2015. Looksery specializes in face tracking, face
modification and band with optimization technologies for real-time video. Looksery B2C app provides live augmented reality filters for
selfies. Using face tracking Looksery identifies all facial features, tracks and maps facial expressions and emotions. The app allows to
modify facial features, correct skin tone, apply special effects or transform into a 3D avatar. Achievements: App Store Best New
Entertainment App in U.S., in the top 10 in 20+ countries, Best App of 2014 by Vogue, Winner of the Best Innovative Startup Award at the
SVOD’14 Conference.
Source: Crunchbase
Notable deals in 2015
9
Petcube: Biggest seed funding in 2015
Deal type: Venture Capital, Late Seed
Investors: Almaz Capital, AVentures Capital, Y Combinator
Deal Value: $2.6 mln
Petcube is an interactive wireless pet camera that helps you stay connected to your pets when you are not at home and share access to
your pet video cam on Petcube network. Connected to your home Wi-Fi network, Petcube is a 4-inch cube that has a wide-angle camera,
microphone, and low-intensity laser pointer. Petcube pet monitor system lets you watch, talk and play laser games with your dog or cat
from anywhere using your smartphone. Petcube is the first entirely Ukrainian startup who joined the Y Combinator in Winter 2016 class.
Source: Petcube meida elease
Depositphotos: The only Round B deal in 2015
Deal type: Venture Capital, Round В
Investors: European Bank for Reconstruction and Development, TMT Investments, Undisclosed investor
Deal Value: $5.8 mln
Depositphotos is one of the fastest growing micro-stock agencies in the world and a popular resource for premium high-quality stock photos,
illustrations, vector images and video. EBRD’s Venture Capital Investment Program chose Depositphotos as its first financing project in
Ukraine’s IT sector. The company’s earlier investor, TMT Investments, has also participated in the round.
Ukrainian Venture Capital & Private Equity Overview 2015
10. Ciklum: First big international PE deal since Maidan
Deal type: Growth Capital
Investors: Soros Fund Management / Ukrainian Redevelopment Fund LP
Deal Value: Undisclosed
Ciklum is a global company engaged in software development and outsourcing IT services to organizations across various industries.
The deal was the first investment of the Soros Foundation in Ukraine and the first in the field of IT services outsourcing.
Notable deals in 2015 (cont’d)
10
Rozetka: The biggest ever PE investment in local e-commerce
Deal type: Growth Capital
Investors: Horizon Capital
Deal Value: Undisclosed
The company is the indisputable market leader in the fast-growing Ukrainian e-commerce segment. Rozetka enables customers from all
over Ukraine to purchase a wide range of goods and services online – from laptops and smartphones to toys and fishing rods, as well as train
and airline tickets. According to GfK Ukraine, Rozetka was the most popular internet store in Ukraine in 2014 by a wide margin.
Source: Horizon Capital
Ukrainian Venture Capital & Private Equity Overview 2015
11. OpenFund, a Greek micro-VC
fund with the European
Investment Fund being its major
investor, has sold its stake in
YouScan, social media
monitoring startup, to Yell.ru, a
Russian online directory. No
further details were disclosed.
Portfolio company exits in 2015
11
EastLabs, a local startup
incubator owned by the EastOne
Group, as well as unnamed
business angels, sold their stakes
in Kabanchik.ua, a “Ukrainian
TaskRabbit” to Prom.ua, an e-
commerce platform for small
business with Naspers among its
investors.
Among all liquidity events of 2015, we have identified four exits made specifically by financial investors
from Ukrainian startups.
Two local investors, Digital
Future and GrowthUp+, exited
Jeapie, a service facilitating
mobile and web push
notifications, on its acquisition
by the Canadian Mobify.
Ukrainian Venture Capital & Private Equity Overview 2015
12. The New Ukraine Fund
Deal type: Fundrasing
Investors: Dragon Capital (Private Equity arm, Ukraine) - GP, Soros Fund Management/Ukrainian Redevelopment
Fund LP - LP
Deal Value: $20-50 mln (estimate)
Ukrainian Redevelopment Fund, LP (URF) is a private investment vehicle that focuses on special situations and
private equity investments in Ukraine and companies with significant operations in Ukraine. URF endeavors to make
targeted investments that have the potential to promote economic and social development in Ukraine. The principal
investment adviser to URF is Soros Fund Management LLC, a private investment advisor to a number of private
investment funds that are managed exclusively for Soros family clients.
Source: Dragon Capital website
Fundraising
12
In 2015, the only publicly known private equity fundraising deal was Soros’ investment into New Ukraine Fund, sponsored by Dragon Capital
(Ukraine). The fund raised an undisclosed amount ($20-50 mln by our estimates) from the Ukrainian Redevelopment Fund LP managed by Soros
Fund Management. This is the Dragon Capital’s second PE fund, the first one being the $57mln Europe Virgin Fund* launched back in 2010 with
EBRD and SIFEM among the LPs.
* In March 2016, the management of the Europe Virgin Fund spinned off from Dragon
Capital as 4i Capital Partners, which now continues to manage the fund.
Ukrainian Venture Capital & Private Equity Overview 2015
13. Outlook quotes by UVCA members
13
Andrey Kolodyuk, AVentures Capital, UVCA Oleksii Vitchenko, Digital Future
“The Soros private equity fund and EBRD Technology Fund made
their first investments in Ukraine, regardless of political and other
factors. These transactions are a signal for the big global investors
to take a look at companies in Ukraine and begin investing here. In
2015 many Ukrainian projects got into international accelerators,
such as YCombinator, TechCrunch, etc. Growth is most significant in
the segment of Internet of Things. A lot of successful Ukrainian
companies appeared on Kickstarter and Indiegogo. Another example
is the recognition of Ukrainian projects in the world at this year's
largest annual Consumer Electronics Show (CES) in Las Vegas, 7
Ukrainian startups were presented there. Projects were not just
present on the exhibition, but received innovation awards (e.g.,
Ecoisme) and recognition.”
“We expect to see more professional players in the market,
probably fewer deals, but larger average size. Overall ‘quality’
of targets is getting higher and more investors seek later stage
opportunities to balance the risk of their earlier investments
in seed rounds. We don’t think there will be massive interest
from foreign funds, while investment pattern will gradually
change from speculative to strategic. Those who do come will
likely be from Europe and Israel. On the other hand, we note
an increasing demand for innovation from corporates and receive
more inquiries from local non-IT/Internet players willing
to invest in digital economy. We believe there are lots
of opportunities at the confluence of digital and traditional
technologies and we hope to see new startups attempting
to capture those.”
Ukrainian Venture Capital & Private Equity Overview 2015
14. Outlook quotes by UVCA members (cont’d)
14
Olga Afanasyeva, UVCA Alexander Soroka, Startup.Network
“Partners from the funds in US, China, Dubai, Finland and other
countries are also showing interest in infrastructure and agricultural
sector. In addition, promising projects are at the intersection of IT and
agro, IT and medicine.”
“In the first quarter of 2016, we received almost four times as many
applications [from IT and Internet startups] than in the first quarter of
last year.”
Michael Ryabokon, Noosphere Ventures Bogdan Kupych, KM Core
“Foreign investors would invest in products and companies in Ukraine
if their investments were protected and there was overall stability
within the country. Otherwise, any projects started here would have
to migrate to other countries with more favorable and stable
economic climates in order to grow.”
“Ukraine has appeared on the radar screen. If Ukraine’s economic
situation stabilizes, economic growth is established and the business
environment improves, interest in Ukraine will continue to increase.”
Ukrainian Venture Capital & Private Equity Overview 2015
15. • Education
Source: Horizon Capital
EDUCATION
Industry drivers
15
Engineering graduates per annum in European countries, thousand students
• IT outsourcing • Foreign R&D • Labor and living costs
Ukrainian Venture Capital & Private Equity Overview 2015
16. Source: Horizon Capital
IT OUTSOURCING
Industry drivers (cont’d)
16
Top CEE countries by IT freelance outsourcing, % Top CEE cities by IT freelance outsourcing, %
Ukrainian Venture Capital & Private Equity Overview 2015
17. Source: Horizon Capital
FOREIGN COMPANIES R&D
Industry drivers (cont’d)
17
North America Europe Asia
Ukrainian Venture Capital & Private Equity Overview 2015
18. Source: Horizon Capital
LABOR AND LIVING COSTS
Industry drivers (cont’d)
18
Average programmer salary, comparable skills, thousand $ per annum
Ukrainian Venture Capital & Private Equity Overview 2015
19. About UVCA
19
The Ukrainian Venture Capital and Private Equity Association (UVCA) was established in 2014 and promotes investment
opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and
business climate, implements Invest in Ukraine activity.
Our membership covers early stage investors (accelerators, incubators, angel networks), private equity funds, venture
capital funds, funds-of-funds headquartered in Ukraine accelerators. Our members also include financial advisors, academic
institutions, non-governmental organizations.
For two years of existence UVCA has more than 35 members, also Association is a member of European Venture Capital and
Private Equity Association (InvestEurope). Based on its mission, members interests and market potential UVCA has
established 5 committees – Legal, Research, Invest in Ukraine, ICT and Energy Committee.
Ukrainian Venture Capital & Private Equity Overview 2015
20. UVCA Members and Partners
20Ukrainian Venture Capital & Private Equity Overview 2015
21. Joined European Venture Capital and Private Equity Association (InvestEurope, formerly EVCA),
that has made the first overview of Ukrainian investment market by virtue of UVCA
Participated in creating of 3 legislative amendments focused on improvement of investors’
activity in Ukraine, 2 amendments supported
Worked out a Memorandum that contains specific suggestions of investors to enhance the
investment climate in Ukraine by the government
Initiated Venture Capital Tours for investors to the countries with developed startup ecosystem
(Israel, U.S., etc.)
Organized more than 30 workshops and participated in more than 50 international investment
conferences and other events in Ukraine and abroad
UVCA achievements in 2015