Ukraine Phoenix Tech Fund
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.
Read more in our press release: Swedfund invests to support Ukraine’s innovation and economic resilience
Facts
SDG in focus
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
No Poverty
End poverty in all its forms everywhere.
Sector
Food systems
In the Food Systems sector, we contribute to increased food production, less waste during production and increased sustainability throughout the value chain.
Value creation
Impact
The investment supports the growth of Ukraine’s startup ecosystem by providing early-stage financing and capacity building to tech companies. It promotes innovation-led recovery through entrepreneurship, job creation and talent retention, and strengthens long-term competitiveness. With a focus on digitalisation, climate solutions and gender equality, the fund advances sustainable development and builds a more resilient and innovative Ukrainian economy.
Additionality
Swedfund’s investment is financially additional by enabling financing for early-stage Ukrainian tech companies with strong ties to the country and potential to contribute to the development of the sector. The investment adds value through active ownership and a focus on strengthening good practices in environmental and social management, gender equality, and responsible and inclusive digitalisation.
ESG
Requirements
In line with Swedfund’s Policy for Sustainable Development, the portfolio company is required to materially comply with, inter alia: (i) all internationally recognised human rights (ii) the EDFI harmonized exclusion list and EDFI Fossil Fuel Exclusion List, (iii) local environmental, health & safety and labour laws and regulations, (iv) applicable IFC Performance Standards, (v) the ILO’s Declaration on Fundamental Principles and Rights at Work and the ILO’s Basic Terms and Conditions of Employment.
ESG Risk
E&S risk categorisation is Medium Risk (Fund-B), based on the moderate potential E&S risks and impacts in the lending portfolio and contextual risks related to the ongoing conflict in Ukraine.
ESG Mitigation Measures
Swedfund is supporting the company in developing its environmental and social management system (ESMS) to address issues related to sustainability processes as well as contextual risks. Swedfund is also supporting the company to develop its business integrity management system.
Applicable IFC Performance Standards
IFC Performance Standards (PS) 1 and 2 are applicable.
Whistleblowing channels and Grievance Mechanism
Swedfund’s whistleblowing services can be used by employees, contractors and others at Swedfund, and by the companies and funds in which Swedfund invests. The complaints mechanism can be used for all types of complaints concerning Swedfund and Swedfund’s portfolio companies, but not for complaints concerning individuals as a result of restrictions arising from data protection legislation. 🔹 Link in website footer.
Other investments within
Food Systems