Resist.UA opens €50M fund to scale Ukraine's combat-tested defencetech
What's the deal? Ukrainian defence tech investment platform Resist.UADealroom has a profile for this one. Try Dealroom → has launched Resist 2.0, a European fund targeting up to €50 million to connect international capital with Ukraine's defence and dual-use technology sector. The Estonia-based vehicle will back founders turning frontline innovation into globally competitive companies.
Why Estonia? The fund is being set up in Estonia as a European platform aimed at qualified international investors. That marks a shift from Resist.UA's first fund, which was backed by Ukrainian capital and focused on pre-seed and seed miltech startups.
The track record: Founded in 2023, Resist.UA built a portfolio valued at over $10 million through its first fund. It reviewed more than 600 projects and engaged over 100 Ukrainian defence tech teams; disclosed portfolio companies include Farsight Vision and M-FLYDealroom has a profile for this one. Try Dealroom →, with much kept private for security reasons.
What's the endgame? Resist.UA runs a hybrid venture capital and private equity model, emphasising manufacturing capacity and long-term growth. It follows a reinvestment-first approach, directing returns toward scaling companies and strengthening the wider ecosystem.
Who's behind it? Founding partner Roman Sulzhyk brings more than 20 years in international capital markets, including roles at J.P. Morgan and Deutsche BankDealroom has a profile for this one. Try Dealroom → in New York and London. Partner Oleksii Komlichenko says the focus is on founders: "Technologies can evolve, products can pivot, but strong teams are what ultimately build scalable companies."
Why now? Ukrainian defence tech companies have attracted more than $500 million in private investment since 2024, Sulzhyk said. "We see Ukrainian defence tech not only as a wartime necessity, but as an emerging industry being built in real time under the most challenging conditions," he added.
The signal: Ukraine's battlefield has become a proving ground for defence technology, and investors are moving to commercialise it. By routing international capital through an Estonian structure, Resist.UA is positioning Ukrainian innovation as a scalable European industry rather than a wartime stopgap.
Read more: Tech.eu
