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9.1.7 TMT sector news
The volume of venture capital raised by Ukrainian IT companies and startups in 2019 amounted to $510mn, which is 1.5 times higher than the maximum of 2018, according to a review by the Ukrainian Venture Capital and Private Equity Association (UVCA).
The number of deals in 2019 was almost the same as in 2018: 111 deals compared to 115 in 2018. In 2019, the volume of M&A transactions (mergers and acquisitions) increased by 18 times. Some 15 M&A deals have totalled $460mn while in 2018 there were seven transactions worth $25.2mn.
The increase of Angel Investments by 7 times in 2019 has been shown in the amount of $6.1mn compared to $900,000 in 2018," the agency said on its website.
2019 was marked by 29 exits of Ukrainian investors, with the average transaction check growing by 78% to $5.7mn.
Software companies have been leading in the number of deals and their volume, moving the "online service" sector to the second place. The volume of top ten transactions has almost doubled to $456mn.
By geography, 90% of the attracted investments were inflow from the United States.
Among the top ten transactions, in particular, were investments in growth (growth) at GitLab ($268mn), Grammarly ($90mn), People.ai ($60mn), JiJi.ng ($21mn); Round A at Allset ($5mn), Unstoppable Domains ($4mn), MyCredit ($3mn), AllRight ($1.5mn), and seed investments at PromoRepublic ($2.3mn),
57 UKRAINE Country Report May 2020 www.intellinews.com
