$881 million - this is the total amount of investments into over the past five quarters. Five quarters of war.

"Despite the forecasts, the Ukrainian venture market has shown remarkable resilience and ability to recover in conditions we have never encountered. The total investment amounts have been steadily increasing, at least for the last five years. They have increased by 30% compared to pre-Covid 2019 and by 13% compared to 2021. And almost three times when compared to 2018," explains Andrey Kolodyuk, founder and managing partner of AVentures Capital.

This research covers the period from the beginning of 2022 to the end of the Q1/2023 – five quarters during which Ukraine was engulfed in the flames of war.

The study was conducted by the Ukrainian Venture Capital and Private Equity Association (UVCA) and business media Mind UA.

Yet, despite predictions, the Ukrainian venture market has shown remarkable resilience and self-renewal capacity in conditions we have never faced before.

The trend is illustrated by the number of investments, which has reached nearly 200 deals. Moreover, their number has almost doubled, if compared with 2021 – the last pre-war year.The total investment in projects with Ukrainian roots during the war year exceeded $880 million, but the lion’s share consisted of investments in the top five start-ups. This trend has persisted for several years in a row.The Ukrainian ecosystem has already produced 7 unicorns. However, we see similar potential in another 50 companies.

Over 20 years, we have built a very large ecosystem, which gives potential for growing unicorns. And therefore, it’s worth investing in funds focused on Ukraine. 17 funds with a total volume of $1.4 billion have already been fundraising intensively.$666.5 million - this is the total amount of the top five transactions, which accounts for 76.5% of the investment.Leading startups in raising funds:

• Near ($350 million and $150 million),

• UnstopPable Domains ($65 million),

• airSlate ($51.5 million),

• Preply ($50 million).

Read more in our joint annual market review that we released together with Mind UA:

Or download the full report here: https://bit.ly/3CgWee5

Despite the war, Ukrainian startups continue to grow and support the country's economy.

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