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ffVC in cooperation with Digital Ministry launch Blue&Yellow Heritage Fund worth $50 mln for Ukrainian startups
KYIV. Sept 16 (Interfax-Ukraine) – President of Ukraine Volodymyr Zelensky at the SALT global forum in New York announced a large-scale project for the economic recovery of the state, part of which will be the launch of the Blue&Yellow Heritage Fund investment fund worth $50 million to develop Ukrainian startups.
According to Deputy Prime Minister – Minister of Digital Transformation Mykhailo Fedorov, the well-known American venture company ff Venture Capital (ffVC) is launching the fund in cooperation with the Ministry of Digital Development.
"The goal of the fund is to raise $50 million of American investments, which will be directed to the development of Ukrainian startups. This will make it possible to turn Ukraine into a high-tech hub of Europe and create several powerful unicorn startups," the minister said.
According to him, investments will be received by projects in the field of artificial intelligence, industrial automation, robotics, cybersecurity and defense, energy, communications, transport, logistics and healthcare.
Fedorov added that the Blue&Yellow Heritage Fund will be the first fund of this scale in Ukraine, and its anchor investors are prominent representatives of the US and European financial markets.
