Bpifrance, Proparco, the European Investment Bank (EIB), and Henri Seydoux announced their commitment to the Ukraine Phoenix Tech Fund (UPTF), set to launch in the 4th quarter of 2025. The goal: to bolster Ukraine’s resilience by helping its startups grow and compete on the international stage.
Ukraine’s tech sector continues to thrive, gain momentum, and attract global interest—even amid the ongoing war.
UPTF’s missions:
- Invest in early-stage Ukrainian tech companies, providing capital, strategic support, and access to international networks;
- Accelerate innovation, attract additional international capital, and deepen Ukraine’s integration into European and global markets.
The Ukraine Phoenix Tech Fund (UPTF) is the first venture capital fund with institutional backing, exclusively dedicated to Ukrainian tech startups. With a target size of €50mn, it focuses on early-stage companies.
Three leading institutions are involved:
- The EIB’s Board of Directors approved a potential €15mn commitment on September 24, 2025;
- Bpifrance was the 1rst institution to confirm its €10mn commitment in March 2024;
- Proparco, a subsidiary of Agence Française de Développement (AFD) focused on the private sector, committed €5mn in December 2024.
The UPTF also benefits from the support of Henri Seydoux, founder of Parrot—a pioneer in drone technology—who contributes €2.5mn through his investment vehicle, Horizon SAS.
For more details, reach the press release
* In 2015, Bpifrance invested €33mn to acquire a 5% stake in Parrot.