Former Google Employee and OpenStack Co-Founder Launch $50 Million Venture Fund in Ukraine

Vatra Group, a new venture capital fund in Ukraine, is aiming to raise up to $50 million. It was founded by Jim Curry, co-founder of OpenStack and BuildGroup, and Dariia Vyshnevska, who previously worked at Google and Grammarly. The $50 million is a fundraising goal, not capital already raised.

The fund will back early-stage AI and SaaS companies, writing $250,000 to $500,000 Seed cheques and $3 million to $5 million Series A cheques. It expects to back five to seven startups in its first year, with investing due to start in 2027. The fund has a ten-year life, and up to 20% of capital is reserved for follow-ons.