Summary sheet
The operation involves an equity participation in the Ukraine Phoenix Tech Fund, a venture capital fund aimed at supporting emerging start-ups and local entrepreneurs in Ukraine. The EIB is expected to invest alongside other "Team Europe" members, including Proparco and BpiFrance.
The aim is to provide equity and quasi-equity to high-growth Ukrainian start-ups while supporting local entrepreneurs in a country at war. This operation will help grow Ukraine's emerging venture capital ecosystem and ensure the private sector's resilience during the conflict. It is also in line with the Global Gateway Digital investment priority, the strategic goals established in the Ukraine's National Recovery Plan (boosting the business environment and expanding value-added economic sectors) as well as the Ukrainian Global Innovation Strategy 2030 (creating new opportunities for individuals, businesses, investors and innovators in the country). Additionally, this EIB equity participation will support several sustainable development goals including SDG 1 (No Poverty), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth) SDG 9 (Industry, Innovation, and Infrastructure), and SDG 10 (Reduced Inequalities). The Fund aims not just to deliver financial returns but also to make a meaningful impact, with about 1,100 jobs expected to be created, half of which will go to women. Notably, the Fund will align with the 2X Challenge, contributing significantly to gender equality.
For the environmental and social aspects, investee companies will be requested to comply with the EIB's Guidelines, as well as with applicable national and EU legislation, as appropriate.
Ukraine Phoenix Tech Fund will be requested to comply with the EIB's Guidelines, as well as with applicable national and EU legislation, as appropriate.