Western NIS Enterprise Fund (WNISEF) created using funds of the U.S. government seeks to invest at least $5 million in commercial startups in the Ukrainian IT sector, WNISEF CEO Jaroslawa Z. Johnson has said.
"We have received a permit to launch a new fund for startups in the IT sector," she told reporters.
She said that WNISEF created in 1994 has left most of the project it had invested in, and it still has four projects in its portfolio due to the unfavorable situation on the market. She said that the fund will use this investment and has the right to send a half of the funds to new commercial projects in the IT sector.
Western NIS Enterprise Fund is a $150 million regional private equity fund, a pioneer in Ukraine and Moldova with more than two decades of successful experience in investing in small and medium-sized companies. Since its inception, WNISEF’s cumulative investments total over $168 million to 118 companies in Ukraine and Moldova.