Czech state fund backs DEPO Ventures with up to CZK 141M to draw Ukrainian startups
What's the deal? Národní rozvojová investiční (NRI)Dealroom has a profile for this one. Try Dealroom → has selected DEPO VenturesDealroom has a profile for this one. Try Dealroom → as the fund manager for its Fond Ukrajina programme, committing CZK 94 million to the vehicle. The operating agreement allows NRI to raise its investment to CZK 141 million if set conditions are met — chiefly securing enough private capital and hitting a minimum invested volume within a defined period.
Who's involved? The chosen intermediary is DEPO Ventures One SCSpDealroom has a profile for this one. Try Dealroom →, managed by Luxembourg-based venture firm DEPO Ventures SàrlDealroom has a profile for this one. Try Dealroom →. NRI is a subsidiary of the Czech National Development BankDealroom has a profile for this one. Try Dealroom →, focused on capital and quasi-capital tools that support the country's strategic economic development.
What's the endgame? Fond Ukrajina, created with the Czech Ministry of Industry and Trade, aims to back innovative startups from Ukraine, Moldova, and Georgia that want to grow their operations in the Czech Republic. The programme is designed to link foreign talent with the Czech industrial base and create high-skilled jobs.
Barbara Pošívalová, chair of NRI's board, framed it as more than a startup investment. "Public funds here act as a bridge to private capital and help bring new business opportunities, know-how, and qualified jobs to the Czech Republic," she said (translated from Czech).
Why now? DEPO Ventures says the money helps it compete for founders being courted elsewhere. "Fond Ukrajina helps us succeed against investors from the US and Germany, who pursue Ukrainian founders as intensely as we do," said Petr Šíma, co-founder and managing partner of DEPO Ventures (translated from Czech).
The firm invests in startups building European technological resilience, with Ukrainian founders a natural target. Šíma said the NRI backing lets it offer larger cheques and manufacturing partnerships with Czech firms, across sectors and "not only in defence."
The signal: The programme reflects a shift in Czech-Ukrainian economic ties away from traditional industrial exports toward higher-value sectors. Industry and Trade Minister Karel Havlíček called it a model for pairing state support with private capital to strengthen the Czech innovation ecosystem.
Read more: investujeme.cz
Image credit: Zéphyrios
