SID Venture Partners venture fund was launched in Ukraine. According to representatives of the AIN.UA fund, its total amount of funds will be $ 15 million, and will focus on technology startups in the early stages of financing (pre-seed, seed, Series A).
About SID Venture Partners Fund I
“The fund is managed by 9 representatives of the Ukrainian IT industry, and the concept is to combine the efforts of three successful companies – Sigma Software (S), Ideasoft (I) and Datrics (D), which create a synergy of service and product business”, the fund said.
These representatives are:
- Dmitro Vartanyan (co-founder of Sigma Software and Clean.io);
- Valery Krasovsky, (CEO and co-founder of the IT company Sigma Software);
- Anton Weisburd (co-founder of Datrics.ai);
- Andriy Lazorenko (CEO and co-founder of Ideasoft);
- Kirilo Kirikov (CTO and co-founder of Datrics);
- Petro Kolomiets (CBDO and co-founder of Ideasoft);
- Olexiy Stoletny (Managing Director at Sigma Software Inc.);
- Ilya Polosukhin (co-founder and CTO of blockchain startup NEAR Protocol);
- Veronica Korzh (co-founder of WOD Insight).
Also, entrepreneurs from clean.io (cybersecurity solutions) and NEAR (blockchain project with an estimate of $ 6 billion), as well as other representatives of the IT market will be involved in scaling the portfolio companies.
Investment portfolio
The first investment from SID Venture Partners received:
- V-Art — platform for showcasing, selling and collecting digital art.
- Awesomic.io — platform for finding designers with a free library of UI animations.
- Finmap — web service for accounting for money, designed for small and medium-sized businesses. With its help, you can keep track of money in the company.
At the same time, the total investment portfolio of the general partners of the fund includes 12 startups that were founded / or invested by partners.
Selection of startups for funding and conditions
The fund will focus on technology startups, preferring projects in the areas of deeptech, b2b, blockchain, fintech and automotive.
- Trust fund size – $ 15 million;
- Funding stages – pre-seed, seed, Series A;
- Investment amount – from $ 300,000.
- Target portfolio – 50 companies;
- Geographic focus – projects with Ukrainian founders;
- Investment period – 5 years.
You can submit an application via link where you will need to briefly describe your project and its business model.