Swedfund invests to support Ukraine’s innovation and economic resilience
Introduction
Swedfund invests EUR 3.5 million to support Ukrainian technology companies through Ukraine Phoenix Tech Fund. The investment aims to strengthen innovation, safeguard skilled jobs and support economic resilience in Ukraine amid the ongoing war.
Ukraine’s tech sector is a key contributor to employment and exports and has shown strong resilience despite severe disruptions. Limited access to risk capital constrains the ability of entrepreneurs to grow and retain talent. By supporting innovation driven companies, the investment helps sustain economic activity and local value creation in Ukraine.
“By investing where private capital is scarce, Swedfund plays a catalytic role in supporting Ukraine’s private sector at a critical time. Strengthening innovative companies helps preserve jobs, maintain productive capacity and lay the foundation for long-term, inclusive economic recovery,” says Sofia Gedeon, Investment Director for Sustainable Enterprises at Swedfund.
The investment contributes primarily to SDG 8 Decent work and economic growth. Swedfund will engage actively to promote responsible business practices.
Investors alongside Swedfund include the European Investment Bank (EIB), Bpifrance and Proparco.
About Ukraine Phoenix Tech Fund
Ukraine Phoenix Tech Fund is a venture capital fund investing in Ukrainian technology companies. The fund was launched in 2025 and provides long-term risk capital to support innovation, job retention and the continued development of Ukraine’s tech sector.