Ousted Defense Minister Fedorov Says Ukraine to Create Largest Defense Tech Fund

Ousted Ukrainian Defense Minister Mykhailo Fedorov says Ukraine is preparing to launch what he describes as the country’s largest venture fund dedicated to defense technology, backing both military startups and established companies. The fund will be based in Kyiv and is expected to launch “very soon,” Fedorov said after a recent international working trip by Ukraine’s digitalization team.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. The team held meetings with international donors, Big Tech companies and venture capital funds to attract investment for Ukraine’s technology sector, including projects such as Diia, Mriia and Diia City, as well as artificial intelligence. Fedorov said the team had secured resources for the new Defense Tech fund, which will focus on three main areas. The first is robotizing and equipping the battlefield with sensors, aimed at reducing risks to Ukrainian troops and accelerating the use of unmanned systems on the front. The second is air defense, including cheap interceptor missiles and other systems capable of shooting down jet-powered Shahed drones and missiles. The third priority is low-cost strike missiles, with plans to eventually integrate artificial intelligence into the systems. “We need to have an answer to all enemy attacks and build our own system capable of responding at scale,” Fedorov said. He said he would invite startups and experts to join the fund. Other Topics of Interest Italy’s Crosetto Appoints Fedorov as Defense Innovation Adviser Mykhailo Fedorov said he will help Italy develop modern warfare technologies while continuing work on Ukrainian defense projects. Questions over Fedorov’s defense-tech plans The announcement drew scrutiny from Ukrainian lawmaker Olexiy Goncharenko. “​​Mykhailo Fedorov is NOT REGISTERED with Ukraine’s State Export Control Service as an entity authorized to conduct international transfers of military goods,” Goncharenko said in a post on X on Sept. 9. “Moreover, as of September 9, 2026, he HAS NOT SUBMITTED any application for such registration,” he added, citing an official response from the State Export Control Service that he said he had received. Fedorov also announced plans to launch an analytical center focused on Russia’s military vulnerabilities and forecasting the next stages of the war. He said Ukraine’s experience over the past seven to eight months had helped identify ways to strike Russian forces and seize the initiative both in the air and on the ground. The goal, he said, is to use that experience to anticipate Russia’s next moves and develop solutions before threats emerge. Fedorov was ousted as defense minister on July 15 as part as part of President Volodymyr Zelensky’s broader cabinet reshuffle, and was replaced by Yevhen Khmara – a former major general of the Security Service of Ukraine (SBU) who has spent most of his career in special operations. The move triggered major protests nationwide throughout July, with demonstrators calling for Fedorov to be reinstated. On Aug. 28, he was announced as an adviser to Italian Defense Minister Guido Crosetto. On Sept. 1, he announced the creation of a defense technology company, saying Palantir CEO Alex Karp would be its first lead investor. Fedorov said the company would use expertise gained during Ukraine’s defense-sector transformation to develop new technologies with global potential Kyiv Post is Ukraine’s first and oldest English news organization, reporting since 1995. Its international reach – 97% of readers are outside of Ukraine – make it truly Ukraine’s global voice.