An American-founded investment fund plans to invest in eight Ukrainian startups this year.

The co-founder of the investment fund Green Flag Ventures, Deborah Fairlamb, said the fund will invest in several Ukrainian startups, with financial commitments ranging from $100,000 to about $1.2M. By the end of the year, the fund plans to make five to eight investments.

To date, the fund has invested in one company, Astra Nav, which develops a special M-GPS technology that provides navigation in any conditions (indoors, outdoors, on land, at sea, in the air). M-GPS works as an autonomous localization system and does not require a connection to any network, which allows users to save battery power and ensures high device security.

The fund is interested in something other than investing in SaaS solutions. First, the Green Flag Ventures team focuses on companies that create dual-purpose products and startups in artificial intelligence/machine learning, cyber security, fintech, and Greentech. Green Flag Ventures primarily invests in early-stage Ukrainian startups.

The Venture capital fund is co-founded by American cybersecurity entrepreneur Justin Zeefe and investor Deborah Fairlamb.