Former Ukrainian defence minister Mykhailo Fedorov has announced on Telegram plans to launch a new defence technology investment fund focused on developing technologies needed on the battlefield.
Aged 35, Fedorov was Ukraine’s youngest-ever defence minister. However, he served only six months before his dismissal in July, resulting in weeks of protests across Ukraine and a political headache for President Volodymyr Zelenskyy. He was replaced by Evgeniy Khmara, who previously served as head of Ukraine’s Security Service (SBU) and as head of the SBU’s Alpha Group.
Fedorov announced the initiative during a working trip to Washington, where he is meeting venture funds, entrepreneurs, technology companies, experts, and organisations that could become partners in the new projects.
The planned fund will differ from a traditional venture capital model by both backing existing Ukrainian defence tech startups and creating new companies around technologies considered critical to Ukraine's defence.
“This will not be a classic venture fund. We plan not only to invest in Ukrainian defence tech companies, but also to create new companies ourselves around technologies that are critically needed on the battlefield today,” Fedorov said.
