The Ministry of Digital Transformation and the National Securities and Stock Market Commission have agreed on the concept of a new project called Diia.City Invest. The initiative aims to create favorable legal conditions for venture capital investments in Ukrainian technology companies.
Diia.City Invest is aimed at simplifying and accelerating the process of creating venture capital funds in Ukraine. Instead of the current six months, this period should be reduced to about one week.
According to the Minister of Digital Transformation Mykhailo Fedorov, the project will create conditions for the emergence of Ukraine's own tech companies, such as Google, Facebook, and Uber.
At the initial stage, Diia.City Invest plans to create small venture capital funds of up to €20 million that will focus on investing in Diia.City residents.
It is expected that up to 10 new venture funds will emerge in Ukraine, providing startups with the necessary funding for development.
