Ukrainian defence tech investment platform Resist.UA has announced the launch of Resist 2.0, a new European fund designed to connect international capital with Ukraine’s rapidly growing defence and dual-use technology sector and support the scaling of battlefield-proven technologies.
The fund targets up to €50 million in capital commitments.
Check out our earlier interview with Resist.UA.
The new fund is being established in Estonia as a European investment platform focused on working with qualified international investors.
Founded in 2023, Resist.UA operates at the intersection of international capital, military expertise, and battlefield-tested innovation. Their first fund was backed by Ukrainian capital and focused on early-stage miltech companies at the pre-seed and seed stages.
The fund supported teams at the earliest stages, combining investment with hands-on operational involvement to help transform prototypes into scalable businesses.
Resist.UA operates through a hybrid model combining venture capital and private equity approaches, with a strong focus on long-term company growth and manufacturing capacity development. One of the platform’s core principles remains its reinvestment-first approach, where returns are primarily directed toward further scaling companies and strengthening the broader ecosystem.
Through its first fund, Resist.UA built a portfolio valued at over $10 million, reviewed more than 600 projects and engaged with over 100 Ukrainian defence tech teams.
Publicly known portfolio companies include Farsight Vision and M-FLY, while a significant portion of the portfolio remains undisclosed for security reasons. Through these investments, it aims to support the long-term growth of Ukraine’s emerging defence technology industry by backing Ukrainian and European companies with Ukrainian roots, developing technologies shaped by real frontline requirements and validated in combat.
Unlike traditional defence investment vehicles focused primarily on products, Resist.UA places a strong emphasis on teams and founders capable of building globally competitive technology companies under extreme conditions.
The fund’s team brings together expertise in international finance, legal structuring, investments, and talent management. Among the platform’s founders is Roman Sulzhyk, who has more than 20 years of experience in international capital markets, including previous roles at J.P. Morgan and Deutsche Bank in New York and London
According to Roman Sulzhyk, Founding Partner of Resist.UA, over the past two years, Ukrainian defence tech companies have attracted more than $500 million in private investment, reflecting growing international interest in the sector and its long-term potential.
“And 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.
Ukraine has exceptional human capital – engineers, entrepreneurs, and teams capable of creating world-class products. Our goal is to help these companies scale and to make Ukraine attractive for international investment.”
Oleksii Komlichenko, Partner of Resist.UA, asserts that the key factor is people.
“Technologies can evolve, products can pivot, but strong teams are what ultimately build scalable companies. That is why we pay close attention to founders, their values, their resilience, and their ability to operate in highly complex environments.”
Lead image: Roman Sulzhyk & Oleksii Komlichenko at Invest in Bravery (KDTW-2).
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