Genesis launches corporate fund to support Ukrainian entrepreneurs

Genesis, a Kyiv- (Kiev-) based company which has developed a variety of Internet and mobile projects, is launching an in-house startup investment fund. Announcing the news on Facebook last week, company CEO Vitaly Laptenok defined the new fund’s mission as “to help talented entrepreneurs transform strong ideas into profitable businesses.”

Dubbed ‘Genesis Investments,’ the fund will leverage on the company’s existing business and investment experience. “We participated in several seed rounds and helped complete a few Series A rounds,” Laptenok reminded.

The corporate fund will focus on seed rounds of up to $1 million, but may also consider participation in later stage rounds. Among the targeted segments are mobile apps, media projects, artificial intelligence and digital health, including projects that aim to expand life expectancy, Laptenok wrote.

Neither the company’s CEO nor its press service answered our request to provide more details.

Topics: Corporate venturing, Finance, News, Venture/Private equity
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