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1991 Ventures Propels Ukrainian Startups with £15M Fund

1991 Ventures unfurls a £15M fund, aimed at fueling the untapped potential of Ukrainian and Central Eastern European
March 26, 2024

In a bid to harness the untapped potential of Ukrainian and Central Eastern European (CEE) startup ecosystems, 1991 Ventures unveiled a groundbreaking £15 million fund today. Founded by Ukrainian brothers Denis and Viktor Gursky, this initiative aims to propel emerging startups with global potential to tackle real-world challenges onto the international stage.

The newly established industry-agnostic early-stage fund, spearheaded by Denis and Viktor Gursky, draws upon their extensive experience in the tech realm. Building upon their successful ventures including Kyiv-based tech organization SocialBoost and 1991 Accelerator, which nurtured over 200 startups since 2016, the Gursky brothers remain steadfast in their commitment despite the tumultuous landscape shaped by the Russian invasion of Ukraine.

A poignant testament to their resilience, the establishment of 1991 Mariupol—a groundbreaking technology startup center—embodied hope for East Ukrainian innovation. However, the city was ravaged in the early months of the invasion, underscoring the indomitable spirit of the Gurskys and their team.

With a vision to invest in over 40 promising companies, 1991 Ventures seeks to amplify the impact of startups incubated through their programs. Notable successes from their accelerator initiatives include AXDRAFT, eTolls, and Osavul—innovative ventures making waves in document automation, toll payment, and cybersecurity sectors respectively.

Denis Gursky, Founding Partner of 1991 Ventures, articulates their mission to spotlight the abundant talent pool in Ukraine and CEE, fostering a conducive ecosystem for startup success on a global scale. Viktor Gursky, echoing his brother's sentiments, underscores their commitment to backing mission-driven companies poised to drive market evolution.

Backed by esteemed limited partners Venrex and Samos Investments, 1991 Ventures stands poised to usher in a new era of innovation, championing the transformative potential of Ukrainian and CEE startups in the global arena.

As 1991 Ventures embarks on its transformative journey, the launch of the £15 million fund epitomizes a beacon of hope amidst challenging times. With the visionary leadership of Denis and Viktor Gursky and the unwavering support of esteemed partners, this initiative heralds a new chapter for Ukrainian and CEE startups, paving the way for global recognition and impact.

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