Hypra Fund, an investment firm operating from Lisbon with a Ukrainian team, has backed IT service company Trinetix with a $10 million injection — a considerable amount by Ukrainian industry standards
Registered in Nashville, Tennessee, with a team of 850 employees split between Ukraine and the USA, Trinetix is a provider of technology design, development and strategy services. It was founded in 2011 by Oleksandr Strozhemin. According to statements which appeared in the media last week, the fresh funding will “allow Trinetix to diversify technical talent, bring new customers, and meet business needs.”
Trinetix will expand to Latin America, opening a delivery center there. “Taking our origins in Ukraine, our team initially operated within the country before strategically expanding into both the EU and the US in recent years,” stated Strozhemin.
“Therefore, entering into the LatAm market will allow us to further diversify the team of global tech talent and better cater to our clients’ needs. And that’s just the beginning, we intend to triple our company size in the next four years and become a $1 billion brand within the decade,” the bold founder added.
Trinetix also eyes Asian markets, from India to Southeast Asia. Strozhemin wants “to serve our customers across the globe in different time zones, to be more productive and more convenient for them.”
Hypra is helping Trinetex identify M&A opportunities, eyeing “several companies with 100-plus people.”
Initially positioned as a Web3 fund, Hypra still seeks to invest in this segment. Its Managing Partner Igor Pertsiya told Ukrainian tech blog AIN they are still ready to offer “large checks” to internationally-oriented businesses with a healthy unit economy and a quality product.
Hypra has a smart money approach which Pertsiya summarized as follows: “For a year now, Hypra has been targeting only private equity investments. We want to be there for companies and help them grow and achieve their highest goals, not just put money into businesses and hope that something succeeds.”
Hypra could invest anything between $1 million and $15 million in the next year.