Ukraine's former Defense Minister, Mykhailo Fedorov, is seeking US investment to launch a defense technology fund aimed at financing and developing new companies to meet Kyiv's military needs in the war against Russia. The project goes beyond the traditional venture capital model, creating a structure capable not only of investing in Ukrainian startups but also of directly creating and managing defense companies. Priority areas include battlefield robotics, fast and low-cost interceptor drones, and AI-equipped missiles.
Fedorov was the youngest defense minister in Ukraine's history until he was removed after six months in office in July. The dismissal triggered weeks of protests across the country and plunged Volodymyr Zelensky into one of the deepest political crises since taking the presidency. The former minister is now seeking capital from US investors, including technology companies and venture capital funds, at a time when Kyiv faces capacity limitations, particularly in air defense.
One of Fedorov's proposals involves a technology exchange with Washington: Ukraine could help the United States build a drone army in exchange for Patriot interceptor missiles, which are crucial for responding to Russian air attacks. The proposal aligns with Fedorov's vision that Ukrainian experience in using drones and artificial intelligence can be transformed into a lasting industrial and military advantage.
In addition to the fund, Fedorov also plans to develop a new defense technology company that will have Alex Karp, CEO of Palantir, as its first major investor. The Palantir connection adds a technological and international dimension to the project, given that the American company has provided software to Ukraine to support military operations for over five years. In a video shared on social media platform X, Palantir's CEO emphasized that the initiative could be decisive for the world.
