u.ventures Research
Overview
u.ventures is an early-stage technology venture capital firm established in 2017 as the venture arm of the Western NIS Enterprise Fund (WNISEF), a U.S. Government-backed $285 million regional fund administered by USAID. The firm operates at the intersection of Ukrainian and Eastern European tech talent and global venture capital, with offices in Chicago, San Francisco, and Kyiv.
Investment Thesis
u.ventures' mission is to "empower local entrepreneurs who dare to build exciting global ventures." The firm backs early-stage technology startups with world-class founding teams that have global market ambitions, scalable products with competitive advantages, and developed conviction or insight about their target markets.
The firm specifically targets ambitious, outlier founders from Ukraine, Moldova, and the broader Eastern European diaspora who are building companies with global reach. u.ventures leverages its deep ties to the Ukrainian tech ecosystem — one of Europe's strongest technical talent pools — combined with its US-based network to help portfolio companies scale internationally.
Stage Focus
u.ventures invests at the pre-seed and seed stages, occasionally making growth-stage follow-on investments. Their typical check size ranges from $200,000 to $2M per investment. Since founding in 2017, the fund has deployed over $7.5 million across 23+ Ukrainian and Moldovan startups.
Check Size
- Pre-Seed: $200,000 – $500,000
- Seed: $500,000 – $2,000,000
Lead Tendency
u.ventures typically leads or co-leads early rounds, particularly for Ukrainian and Eastern European founders. They often anchor seed rounds with their initial check and have demonstrated a track record of supporting portfolio companies through subsequent rounds.
Sector Focus
The firm invests across multiple technology sectors, with particular strength in:
Artificial Intelligence and Enterprise Software: AI applications, GenAI platforms (Dynamiq), autonomous agents (Ability.ai), AI for clinical trials (Phases AI), AI for ophthalmic care (Altris AI), AI for information security (Osavul, SOC Prime), and AI for women's health (Aspect Health).
EdTech: Preply (global tutoring platform connecting learners with tutors in 50+ languages), Mate Academy (ISA-based coding school expanded to Brazil), Bloomcoding (coding education for children).
FinTech: Fintech Farm (neobank creation platform for traditional banks in emerging markets), Carmoola (car financing), Turnkey Lender (B2B lending software).
Robotics and Automation: Instock (warehouse robotics and automation), Deus Robotics (logistics automation), Esper Bionics (human enhancement bionic devices).
PropTech: NewHomesMate (new construction home marketplace, formerly PropertyMate, raised $5.5M seed).
Developer Tools and Hardware: embedd.it (software integration and testing of chips).
Healthcare Digital: Phases AI (AI for clinical trial operations), Aspect Health (women's metabolic health platform), Altris AI (ophthalmic image management powered by AI).
Recent Activity
In November 2023, u.ventures announced a record $4M batch investment across nine startups — eight Ukrainian and one Moldovan — bringing total deployed capital to over $7.5M since 2017. The batch included Instock, Haiqu, Cloudprinter, NewHomesMate, Speedsize, and Bloomcoding, among others.
Notable portfolio milestones include:
- NewHomesMate raised $5.5M in seed funding and rebranded from PropertyMate
- Mate Academy expanded to Brazil, offering programming education in Portuguese
- Haiqu formed a partnership with Perimeter Institute to advance quantum computing research
- Rallyware acquired Myagi, driving evolution in retail performance enablement
- Notable exit: Youteam (acquired by Toptal)
Portfolio Highlights
u.ventures has backed 40+ companies across sectors including AI, EdTech, FinTech, Robotics, Healthcare, and Cybersecurity. Notable portfolio companies include:
- Preply — Global edtech platform connecting learners with tutors in 50+ languages
- Rallyware — Workforce performance enablement platform
- SOC Prime — Cybersecurity threat detection platform
- Haiqu — Quantum computing software
- Phases AI — AI for clinical trial operations
- Osavul — AI-powered information environment assessment platform
- Dynamiq — GenAI application platform for building secure GenAI apps rapidly
- Influ2 — B2B advertising platform
- Competera — AI-powered pricing intelligence platform
Team
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Jaroslawa Z. Johnson — President and CEO; founding member of the America Ukraine Business Council; appointed by President Clinton to the WNISEF Board of Directors in 1994; J.D. from University of Wisconsin Law School; practiced corporate law in Chicago for several years.
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Andrew Sorohan — Pre-seed and Seed Investment Leader based in San Francisco; leads investments in AI, frontier tech, future of work, and education; co-founder of Jiggle Labs (AR product development) and Ephy/Lightspot (AI STEM blogging); Founder Fellow at Launch House and On Deck; background in Economic and Mathematical Modeling; email: [email protected].
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Bohdan Svyrydov — Investment Lead based in Kyiv; leads pre-seed through growth-stage investments in AI, vertical software, cybersecurity, fintech, robotics, EdTech, and consumer tech; also manages technology investments at Horizon Capital ($1.8B AUM); portfolio includes Preply, Carmoola, Fintech Farm, Influ2, OneNotary, Competera, Altris AI, Ability AI; previously investment banking advising tech companies in Emerging Europe on M&A; email: [email protected].
Geographic Focus
u.ventures has a primary focus on Ukraine and Eastern Europe (Ukraine, Moldova), with increasing US presence. The firm operates offices in Chicago (headquarters), San Francisco, and Kyiv, uniquely bridging Eastern European technical talent with global capital markets.
Community Programs
Beyond capital, u.ventures provides:
- Mission Possible: 6-month in-residence venture building program for aspiring entrepreneurs
- Entrepreneur in Residence: Hands-on mentorship program
- UaTech Expo at CES: Support for Ukrainian hardware startups at major trade shows
Decision Process
Given the small team (two investment professionals plus executive leadership), u.ventures operates as a partnership. Andrew Sorohan focuses on pre-seed/seed AI, frontier tech, and education; Bohdan Svyrydov covers the broader portfolio across AI, fintech, cybersecurity, and robotics. The UMAEF/WNISEF parent organization provides governance oversight given its government-backed mandate.
Unique Positioning
u.ventures is one of the few USAID-backed venture capital arms operating in the Ukrainian tech ecosystem. With Bohdan Svyrydov simultaneously managing technology investments at Horizon Capital (a $1.8B growth equity firm), the fund benefits from unique deal flow spanning early-stage through growth, and has access to Ukraine's exceptional engineering talent base — 346,000+ skilled tech professionals, ranked 2nd in Central/Eastern Europe for IT outsourcing.