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ICU Ventures

Europe, Kyyiv, Ukraine, Kyiv

Description

ICU Ventures is the venture capital arm of ICU Group, a prominent independent financial group based in Ukraine. Established with a clear mandate to foster innovation within the region, ICU Ventures primarily focuses its investments on early-stage technology companies. The fund targets businesses at the Seed and Series A stages, demonstrating a commitment to supporting startups through their critical initial growth phases. A distinctive aspect of their investment strategy is a strong preference for companies with Ukrainian founders or those conducting significant research and development activities within Ukraine. This strategic focus underscores their dedication to developing the local tech ecosystem and leveraging the country's talent pool.

The firm positions itself as more than just a capital provider, aiming to be a strategic partner for its portfolio companies. Beyond financial backing, ICU Ventures offers access to its extensive network, industry expertise, and operational guidance, helping startups navigate challenges and accelerate their growth. Their investment philosophy emphasizes long-term partnerships and a hands-on approach to value creation. With a track record that includes approximately 11 investments to date, ICU Ventures plays a crucial role in bridging the funding gap for promising Ukrainian tech enterprises, helping them scale globally.

ICU Ventures typically deploys initial checks ranging from $500,000 to $5,000,000. This range allows them to accommodate a diverse set of early-stage needs, from initial product development and market entry to scaling operations. Their portfolio spans various tech sectors, reflecting a broad interest in disruptive technologies and scalable business models. The fund's commitment to the Ukrainian tech scene is evident in its consistent investment activity, aiming to build a robust and resilient innovation landscape despite geopolitical challenges. Their strategic investments are vital for nurturing the next generation of Ukrainian tech leaders and fostering economic growth.

Investor Profile

ICU Ventures has backed more than 32 startups, with 1 new investments in the last 12 months alone. The firm has led 4 rounds, about 13% of its total and boasts 2 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Convertible Note rounds (top funding stages).
  • Majority of deals are located in United States, United Kingdom, Pakistan.
  • Strong thematic focus on Software, Financial Services, Artificial Intelligence (AI).
  • Typical check size: $500K – $5M.

Stage Focus

  • Series A (31%)
  • Seed (25%)
  • Convertible Note (16%)
  • Series Unknown (13%)
  • Series C (9%)
  • Series B (6%)

Country Focus

  • United States (44%)
  • United Kingdom (13%)
  • Pakistan (9%)
  • Germany (6%)
  • Ukraine (6%)
  • Singapore (6%)
  • United Arab Emirates (3%)
  • Brazil (3%)
  • Indonesia (3%)
  • Bangladesh (3%)

Industry Focus

  • Software
  • Financial Services
  • Artificial Intelligence (Ai)
  • Information Technology
  • Fintech
  • Analytics
  • E-commerce
  • Machine Learning
  • Saas
  • Mobile Payments
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does ICU Ventures frequently co-invest with?

Quona Capital
North America, District of Columbia, United States, Washington
Co-Investments: 3
Y Combinator
North America, California, United States, Mountain View
Co-Investments: 1
Korea Investment Partners
Asia, Seoul-t'ukpyolsi, South Korea, Seoul
Co-Investments: 2
VEF
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 3
Golden Equator Ventures
Asia, Central Region, Singapore, Singapore
Co-Investments: 2
SV
North America, California, United States, Hermosa Beach
Co-Investments: 2
BEENEXT
Asia, Central Region, Singapore, Singapore
Co-Investments: 2
AltaIR Capital
North America, California, United States, San Francisco
Co-Investments: 1
ARK Investment Management
North America, New York, United States, New York
Co-Investments: 1
Monk’s Hill Ventures
Asia, Central Region, Singapore, Singapore
Co-Investments: 2

Which angels does ICU Ventures often collaborate with?

RS
Europe, Mazowieckie, Poland, Warsaw
Shared Deals: 1
Buddy Shakhashir
Asia, Dubai, United Arab Emirates, Dubai
Shared Deals: 1
MP
Europe, L'vivs'ka Oblast', Ukraine, Lviv
Shared Deals: 1
NB
North America, California, United States, San Francisco
Shared Deals: 1
AF
North America, California, United States, San Jose
Shared Deals: 1
OR
North America, California, United States, San Francisco
Shared Deals: 1
VI
Europe, Romania
Shared Deals: 1
AB
Europe, Russian Federation
Shared Deals: 1
RT
North America, Connecticut, United States, Greenwich
Shared Deals: 1
AB
North America, California, United States, Palo Alto
Shared Deals: 1

What are some of recent deals done by ICU Ventures?

Khazna

Cairo, Al Qahirah, Egypt

A Financial Super App that offers easy to use, technology-driven financial services to Egypt’s underserved consumers and micro-businesses.

AppsFinancial ServicesFinTechMobile Payments
Series BFeb 4, 2025
Amount Raised: $16,000,000
Smartlane

Lahore, Punjab, Pakistan

Smartlane is a courier company that offers E-commerce delivery and operations solutions.

AnalyticsArtificial Intelligence (AI)DeliveryE-CommerceShipping
SeedJan 1, 2024
Gringo

São Paulo, Sao Paulo, Brazil

Gringo is a car app that helps in monitoring vehicle and driver's licenses, licensing vehicles and dividing fines into installments.

AppsAutomotiveInformation Services
Series CSep 26, 2023
Amount Raised: $30,073,379
Hammerspace

San Mateo, California, United States

Hammerspace offers an automated data orchestration system to unify and manage data across the edge, data centres, and public cloud.

Cloud Data ServicesCloud StorageData ManagementData StorageInformation TechnologySoftware
Series AJul 18, 2023
Amount Raised: $56,700,000
Jenfi

Singapore, Central Region, Singapore

Jenfi is a financial technology company that provides revenue-based financing and analytics to digital native businesses in Asia.

AnalyticsBusiness DevelopmentFinancial ServicesFinTechLendingSaaS
Series BMay 16, 2023
Amount Raised: $6,600,000
Adwisely

Los Angeles, California, United States

Easy & efficient online ads for eCommerce. We're a team of Ukrainians based all around the world. Adwisely grew from RetargetApp.

AdvertisingBig DataFacebookGoogleMarketingMarketing AutomationSocial MediaSoftware
SeedJun 27, 2022
Amount Raised: $1,500,000
Hubpay

Abu Dhabi, Abu Dhabi, United Arab Emirates

Hubpay is an independently regulated fintech company offering cross-border and local payment services.

Financial ServicesFinTechMobile PaymentsPayments
Series AFeb 8, 2022
Amount Raised: $20,000,000
Gorillas

Berlin, Berlin, Germany

Gorillas is a delivery startup that allows customers to order groceries and other household items.

DeliveryDelivery ServiceE-CommerceGrocery
Series COct 20, 2021
Amount Raised: $1,000,000,000
Revenue Grid

Atlanta, Georgia, United States

Revenue Grid is a revenue intelligence platform that turns data into actionable insights using world-leading data capturing tech and AI.

AnalyticsCollaborationConsultingData IntegrationEnterprise ApplicationsEnterprise Resource Planning (ERP)Enterprise SoftwareMarketingSaaSSoftware
Series ASep 1, 2021
Amount Raised: $20,000,000
Jenfi

Singapore, Central Region, Singapore

Jenfi is a financial technology company that provides revenue-based financing and analytics to digital native businesses in Asia.

AnalyticsBusiness DevelopmentFinancial ServicesFinTechLendingSaaS
Series AAug 17, 2021
Amount Raised: $6,300,000