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Dnipro VC is a venture capital firm headquartered in Palo Alto, California, dedicated to investing in early-stage startups, particularly those founded or co-founded by Ukrainians. Established to provide capital and support to global founders, Dnipro VC focuses on groundbreaking technologies in artificial intelligence (AI) and cybersecurity. The firm is committed to enhancing automation and protecting data through its investments.
Currently, Dnipro VC manages a portfolio of 20 companies, emphasizing its role in the global startup ecosystem. The firm primarily invests at the seed and Series A stages, targeting innovative solutions that address real-world challenges. Dnipro VC aims to back 25 to 35 startups annually, reflecting its active engagement in the market.
In addition to its investment activities, Dnipro VC is known for its strong network and resources, which it leverages to support portfolio companies in scaling their operations. The firm’s geographic focus includes North America and global markets, aligning with its mission to empower Ukrainian entrepreneurs with global ambitions.
Dnipro VC invests in early-stage companies within the sectors of artificial intelligence and cybersecurity. The firm’s investment strategy is centered around supporting innovative technologies that enhance automation, improve decision-making, and protect data across various industries. Dnipro VC primarily targets startups at the seed and Series A stages, with typical check sizes ranging from $50,000 to several million dollars.
The firm’s focus on AI includes applications that create intelligent systems and enhance automation across sectors. In cybersecurity, Dnipro VC seeks to support solutions that secure networks and defend against evolving cyber threats. The firm emphasizes a strong connection to Ukrainian founders, aiming to back companies that demonstrate a clear path to global market penetration.
Dnipro VC looks for startups with a strong technical team, early product development, and customer traction. The firm prefers to engage with companies that have a defensible data moat and a clear business model. While warm introductions are favored, Dnipro VC does review cold applications, indicating a willingness to explore diverse opportunities.
Dnipro VC's portfolio consists of 20 companies, showcasing a diverse range of innovative solutions in AI and cybersecurity. Notable portfolio companies include:
This diverse portfolio reflects Dnipro VC's commitment to supporting innovative technologies that address critical challenges in AI and cybersecurity.
Marianna Bonechi - Managing Partner: Co-founder of Dnipro VC, Marianna has a background in supporting Ukrainian founders and has previously worked with Slava Ventures. She emphasizes the firm's mission to back Ukrainian companies with global ambitions.
Mikola (Nick) Bilogorskiy - Managing Partner: Nick has nearly 20 years of experience in AI and cybersecurity. He has held significant roles, including Director of Security Intelligence at Google and founding team member at Cyphort.
Roma Romaniv - Associate: Roma is part of the Dnipro VC team, contributing to the firm's investment activities.
Irene Barvi - Investor: Irene plays a key role in evaluating potential investments and supporting portfolio companies.
Vlad Voskresensky - Growth Partner: Vlad focuses on helping portfolio companies scale and achieve their growth objectives.
Angelika Blendstrup, PhD - Strategic Advisor: Angelika provides insights and guidance on strategic initiatives within the firm.
Alina Zagaytova - Strategic Advisor: Alina offers expertise in navigating the startup landscape and supporting portfolio companies.
Kira Makagon - Strategic Advisor: Kira advises on technology trends and market opportunities.
Katherine Kostereva - Strategic Advisor: Katherine brings experience in scaling technology companies and provides mentorship to founders.
Oliver Friedrichs - Cybersecurity Advisor: Oliver offers specialized knowledge in cybersecurity threats and solutions.
Jeff Wu - Cybersecurity Advisor: Jeff provides insights into cybersecurity best practices and risk management.
Volodymyr Kuleshov, PhD - AI Advisor: Volodymyr advises on AI technologies and their applications in various sectors.
Joe Levy - Strategic Advisor: Joe brings experience in venture capital and startup growth strategies.
Ben Renda - Trust & Safety Advisor: Ben focuses on ensuring compliance and safety within portfolio companies.
Dave Willner - AI Policy Advisor: Dave provides guidance on AI policy and ethical considerations.
Marten Mickos - Cybersecurity Advisor: Marten offers insights into cybersecurity trends and innovations.
Andy Kurtzig - Strategic Advisor: Andy advises on business development and market strategies.
Gerhard Eschelbeck, PhD - Cybersecurity Advisor: Gerhard provides expertise in cybersecurity technologies and risk assessment.
Igor Krivokon, PhD - AI Advisor: Igor advises on AI research and development initiatives.
Arsen Kostenko - AI Advisor: Arsen offers insights into AI applications and market trends.
Dmytro Zaporozhets - Strategic Advisor: Dmytro provides guidance on strategic partnerships and growth opportunities.
Oleg Kolesnikov - Cybersecurity Advisor: Oleg focuses on cybersecurity solutions and threat mitigation.
Dmytro Dzhulgakov - AI Advisor: Dmytro advises on AI technologies and their implementation.
Yevgeniy Dodis, PhD - AI Advisor: Yevgeniy provides insights into AI research and applications.
Oleg Rogynskyy - Strategic Advisor: Oleg advises on business strategy and market positioning.
Larry Augustin - Strategic Advisor: Larry brings experience in technology commercialization and startup growth.
Artem Petakov - Strategic Advisor: Artem provides insights into product development and market strategies.
To pitch Dnipro VC, founders should reach out via email at info@dnipro.vc. The pitch deck should include a clear overview of the business model, market opportunity, and team background. Dnipro VC prefers concise presentations that highlight the startup's unique value proposition and potential for growth.
While warm introductions are favored, the firm does consider cold applications. Founders can expect a response within a few weeks, depending on the volume of inquiries. It is advisable to follow up if no response is received after this period.
In 2025, Dnipro VC made significant investments in several startups, including a participation in the M round of Liki24, an online pharmacy marketplace. The firm also invested in Spendbase, a SaaS spend management platform, through a rolling SAFE, with typical ticket sizes reported at $50,000 to several million.
Additionally, Dnipro VC joined a $4 million deal for PeopleForce, an all-in-one HR management platform. The firm continues to actively build its portfolio, focusing on innovative solutions in AI and cybersecurity.
In September 2025, Dnipro VC's Managing Partner, Marianna Bonechi, discussed the firm's mission in an interview, emphasizing the importance of supporting Ukrainian-founded startups with global ambitions.
What are Dnipro VC's investment criteria?
Dnipro VC focuses on early-stage companies in AI and cybersecurity, particularly those founded or co-founded by Ukrainians. The firm looks for strong technical teams, early product development, and customer traction.
How can I pitch to Dnipro VC?
Founders can pitch Dnipro VC via email at info@dnipro.vc. While warm introductions are preferred, the firm does review cold applications.
What makes Dnipro VC different from other investors?
Dnipro VC specifically targets Ukrainian-founded startups and emphasizes a strong connection to the Ukrainian entrepreneurial community. The firm also focuses on groundbreaking technologies in AI and cybersecurity.
What is the typical check size for investments?
Dnipro VC typically invests between $50,000 and several million dollars, depending on the stage and potential of the startup.
What geographic areas does Dnipro VC focus on?
While based in Palo Alto, California, Dnipro VC invests globally, with a particular emphasis on North America and Ukrainian-founded startups.
What kind of support does Dnipro VC provide to portfolio companies?
Dnipro VC offers operational support, access to its network, and guidance on scaling and hiring, particularly for companies looking to expand in the U.S. market.
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