Latest fund size
$58M
Announced
October 10, 2025
Global HQ
Ukraine
Members only
Check size
$1M
Members only
Stage focus
Pre-Seed
Members only
Regions of investment
Europe, North America, Asia
Members only
Ukraine Phoenix Tech Fund is a venture capital firm founded in 2024 by Dominique Piotet and Charles K. Whitehead. Based in Lviv, its mission is to fuel the resilience and global competitiveness of Ukrainian tech startups, ensuring they can scale internationally while maintaining their core R&D in Ukraine. The fund emphasizes building bridges between the Ukrainian and European ecosystems while providing founders with not only capital but also strategic support and global access.
Members only
Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
The fund targets early-stage technology startups with at least one Ukrainian founder and a significant local team. Investment focus spans both software and hardware, with particular interest in research-based university spinouts.
Sectors include deeptech, applied software, and frontier innovation coming from Ukraine’s strong technical talent base.
Members only
What the fund looks for in founders and which sectors it backs.
Launched in September 2025 at €50M, the fund received anchor backing from the European Investment Bank (EIB) and Bpifrance, with participation from Proparco and tech entrepreneur Henri Seydoux.
It plans to invest in around 50 startups, writing checks up to €1M each, with follow-on funding for high performers.
Members only
Fund size, LPs and track record.
Leadership
The firm is led by Dominique Piotet and Charles K. Whitehead, its Co-Founders. Piotet is recognized for his leadership in Ukrainian tech development and his extensive background in international business, while Whitehead combines academic rigor with practical experience across finance, regulation, and venture capital, bringing a dual perspective that bridges innovation and institutional expertise.
Investment Strategy
The fund supports startups from pre-seed and MVP stages through to those generating up to €1M in revenue. Its approach blends capital investment with hands-on operational guidance, mentorship from a network of 75+ advisors, and assistance for international expansion in Europe, the US, and Asia.
Notable Investments
As a newly launched fund, no public portfolio has yet been disclosed.
Its first cohort of investments is expected to emerge from Ukraine’s IT Arena and leading university spinouts.
Other
Ukraine Phoenix Tech Fund differentiates itself by anchoring Ukrainian talent and teams locally while enabling global scaling. Its strong institutional LP backing and strategic advisor network position it as a gateway for Ukrainian founders to access international markets.
Members only
Leadership, investment strategy, notable investments and exits.
