Ex-defense minister announces creation of largest venture fund for Ukraine's defense industry

"We held a large number of meetings with venture capital funds and Big Tech companies. I published information about Palantir, and we managed to secure resources that will allow us to create the largest Defense Tech venture fund in Ukraine, in Kyiv," Fedorov said.

According to him, the newly established fund will invest in military startups and established companies, while also looking for solutions to problems that exist today and may emerge tomorrow.

The new fund will have three key priorities:

• The first is frontline sensor integration and unmanned systems deployment to protect the lives of military personnel and accelerate the robotization of the battlefield as much as possible.
• The second is jet-powered interceptors, low-cost missiles and other systems that will make it possible to shoot down jet-powered Shahed drones and missiles. The goal is to accelerate efforts to solve this problem.
• The third is the development of low-cost missiles, with AI integration planned at a later stage.

"We will launch the Defense Tech Fund very soon. I will invite both startups and experts to join it and work with the fund," Fedorov added.

He also stressed that an analytical center would soon begin operating in Ukraine. It will identify Russian vulnerabilities and develop methods to strike and seize the initiative in the air and on the ground.

"The center’s task is to use this experience to forecast the next stages of the war and proactively develop solutions to seize the initiative. So there will also be an announcement about this soon," he said.

Earlier, it was reported that Mykhailo Fedorov was launching his own defense tech company. Its first key investor will be Palantir CEO Alex Karp.