HomeUK1991 Ventures Launches £15M Venture Capital Fund

1991 Ventures Launches £15M Venture Capital Fund

1991 Ventures

1991 Ventures, a London, UK-based early stage venture capital firm, launched a £15m fund.

The vehicle was backed by prominent UK-based limited partners (LPs) Venrex and Samos Investments, early institutional investors in startup programs Seedcamp and Entrepreneur First. 

The industry-agnostic fund will invest in untapped Ukrainian and Central Eastern European (CEE) startup talent with global potential to solve real-world problems. The firm aims to invest in over 40 companies across the lifecycle of the fund and will build on the incubation and accelerator programs the Gurskys have been running from Kyiv and now London. The accelerator’s successes include document automation software AXDRAFT, which has offices in the US and Germany; European toll payment app eTolls; and cybersecurity company Osavul, which uses AI to counter disinformation.

Founded by Ukrainian brothers Denis and Viktor Gursky, 1991 Ventures builds on their experience launching Kyiv-based tech organisation SocialBoost and 1991 Accelerator, which has launched more than 200 startups between 2016 and 2024. In 2019, the Gurskys created 1991 Mariupol, a technology startup centre which served as an outpost of East Ukrainian innovation. The city was largely destroyed in the first months of the invasion with the centre seized by the Russian military after 1991 Mariupol’s team managed to relocate to safety. 

VCWire

25/03/2024