Point72 veteran targets $50M for Ukraine defense tech VC fund
A former executive with Steve Cohen’s Point72 hedge fund is betting big on Ukraine’s brewing private defense sector.
Perry Boyle, who was head of equities and capital development for Point72, is nearing a first close on a flagship venture capital vehicle for MITS Capital, Boyle told PitchBook exclusively. MITS will invest primarily in seed and Series A rounds for Ukrainian defense startups.
Later this month, the firm plans to hold a first close on its flagship VC vehicle, MITS Lightning Fund, which aims to raise about $50 million.
The launch comes as a US presidential election nears and peace prospects for the war remain up in the air. Prominent US VCs, including Andreessen Horowitz and Cerberus Capital Management, have launched defense-focused strategies.
New York-based Boyle joined with Ukraine-based fellow founding partner Anton Melnyk to get MITS Capital off the ground. Denys Gurak, a former venture partner at FF Venture Capital, is the third founding member.
https://pitchbook.com/news/articles/mits-capital-ukraine-defense-tech-vc-fund
They're getting so much of our money that they have to create ever-new laundering pipelines.