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26 March 2024·2 min read

Joy Laoun

News Editor, Vestbee

1991 Ventures launches £15M fund to invest in CEE and Ukrainian founders

Founded by Ukrainians and based in the UK, 1991 Ventures has launched a £15 million fund to invest in Ukraine and the broader CEE region. The new fund was backed by Venrex and Samos Investments, as reports by Tech.eu.

  • 1991 Ventures was established by two Ukrainian brothers, Denis and Viktor Gurskyi, who are known for developing incubation and acceleration programs for startups inside Ukraine within their Kyiv-based tech organization, Social Boost. The Gurskyi brothers previously have backed more than 200 startups between 2016 and 2024, via Social Boost and 1991 Accelerator. 
  • 1991 Ventures is a seed venture fund. It is sector-agnostic, with a focus on data, deeptech, govtech, civic tech, cybersecurity, fintech, mobility, and smart city. In addition to investments, the fund will provide founders with mentorship and expertise from 1991 Accelerator members, which startups need for their development and global expansion.

 “There is a wealth of untapped talent in Ukraine and Central and Eastern Europe, and 1991 Ventures plans to bring these innovative startups to the forefront of the global stage,"  Denis Gursky, 1991 Ventures' Founding Partner, stated. 

  • The limited partners include Venrex, an early-stage venture capital fund manager operating in London, which supports entrepreneurs who are leading tech-enabled firms. Another investor is Samos Investments, an active angel and seed investor that funds in deep tech, e-commerce, B2B Software, and financial services.  
  • The £15 million fund will be used to make investments in entrepreneurial talent from Ukraine and CEE. Furthermore, 1991 Ventures plans to invest in over 40 firms over the fund's lifecycle with the help of Gurskyis incubation and accelerator programs.

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