Who?
USVF is a venture philanthropy organization that provides financial and non-financial support to strengthen social enterprises and develop social entrepreneurship ecosystem
The USVF was piloted as part of the Active Social Entrepreneurship in Ukraine Project, implemented by the NGO School of ME in partnership with the ChildFund Deutschland and the UCU Entrepreneurship Center, with financial support from the Ministry of Foreign Affairs of the Federal Republic of Germany during 2019-2020. As part of the pilot, 5 social enterprises received investments totaling UAH 341,500, 10% of which were repaid one year after the pilot's completion.

The experience gained gave impetus to further development of the USVF.

How idea was born?
We are forming a circle of social investors, both individual and institutional, who seek to catalyze the impact of social entrepreneurs and stimulate systemic, qualitative change in our country.

Since 2021, USVF has been actively cooperating with the European Venture Philanthropy Association, a leading organization in the field based in Brussels. Within the framework of the Collaborate for Impact project, USVF studies the experience and outcomes gained by various European social investing organizations and tries to tailor them to both the unique opportunities and challenges present in today’s Ukraine.
Every year, dozens of social enterprises are established in Ukraine. They focus on work integration and improve the quality of life for those facing difficult circumstances. They provide critical social services, oftentimes adapting best practices from other countries in new and innovative ways. They create positive social change in the communities they operate in, and also tackle environmental issues, setting up recycling programs and such. Governmental bodies in Ukraine often have neither the purview, inclination, knowhow, nor the resources to solve many local and regional social problems; social enterprises can help address these. Their business is often volatile due to the lack of available capital and expert knowledge necessary to achieve effective sustainability and scalability.

Ukrainian Social Venture Fund was established to gather resources to aid in the development of social entrepreneurship, and to cooperatively address challenges to the field.
With whom?
why?
We help social enterprises to develop sustainable and efficient business models, and to maximize social and environmental impact. We provide financial support and business expertise aimed at employing new technologies and business practices, improving product quality and increasing social value.
How?
The idea of creation of USVF has emerged in 2019 at the initiative of four organizations:
As USVF’s we believe that the viability of any business and its social impact are not mutually exclusive but mutually reinforcing. Enterprises based on the idea of changing the world for the better possess important qualities necessary for ongoing and sustainable growth and solvency, both in the short and long term, and we want to demonstrate this by supporting and developing such enterprises.
Development of impact-investment practices is the core activity of USVF
We invest in and support social enterprises whose business models are based on the achievement of positive social and environmental change.
Impact investing is a common practice in Ukraine, one that provides social enterprises with stable access to resources at various different stages of their development.
Mission
Vision
Program Priorities
Supporting social enterprise activities by providing various types of grants, loans and other forms of financial support, consistent with current Ukrainian law
Providing educational, mentoring and technical support to our investees
Sharing information with other organization about the experiences and best practices gained by our investees
Promoting and popularizing the idea of social entrepreneurship and impact investing

Forming communities of impact investors to partner with for current and future USVF programs
Attracting investment to develop social entrepreneurship and support USFV activities
Creating a favorable legal environment in Ukraine to help encourage impact investment
Structural Subdivisions of the Fund
1
Board
includes representatives of USVF member organizations that build and implement USVF development strategy
2
Investment Committee
includes representatives of USVF investors who select projects for investment
3
Supervisory Council
consists of independent experts who perform advisory and supervisory functions
4
Operations Team
manages the day-to-day activity of USVF
1
Board
includes representatives of USVF member organizations that build and implement USVF development strategy
2
Investment Committee
includes representatives of USVF investors who select projects for investment
3
Supervisory Council
consists of independent experts who perform advisory and supervisory functions
4
Operations Team
manages the day-to-day activity of USVF
Board
Anna Gulevska-Chernysh
Olena Kalibaba
Bohdan Androshchuk
Chair of USVF Board, Chair of the NGO SILab Ukraine Board
USVF Board Member, co-founder of the NGO SILab Ukraine and the accelerator SELab
USVF Board Member, PhD, Head of the Eastern Partnership Unit, ChildFund Deutschland
Artem Kornetskyi
USVF Board Member, PhD, Associate Professor of UCU, co-founder and CEO of NGO School of ME
Vasyl Nazaruk
USVF Board Member, Head of the Western NIS Enterprise Fund Social Investment Program
Operations Team
Tetiana Levkivska
Valeriia Tkach
portfolio manager of Ukrainian Social Venture Fund; has 8 years of experience in project management and project coordination with the financial support of UNDP, GIZ, European Commission
PR manager of Ukrainian Social Venture Fund; has experience in communications in the field of business, medicine and energy
Yuliia Diomochkina
chief accountant, financial manager of social projects
Partners
glossary
Social enterprise
is a representative operator of the social economy. Its main goal is to achieve social impact rather than make a profit for their owners or shareholders.
The activities of such an enterprise are aimed at selling services or goods primarily to achieve social objectives. The term "social enterprise" is used to cover such types of businesses that:
• aim to integrate vulnerable populations into the workforce;
• aim to development of depressed areas;
• provide social services;
• develop such spheres as sports, ecology, and culture.
Social investor
is a capital owner who invests in social impact and supports innovative solutions to social problems by providing financial and extensive non-financial support.
Venture philanthropy is an investment with a high involvement level of a social investor’s expertise. In this case, the social investor not only helps financially with the social enterprise development, but also aims to implement all their experience in project management and support in order to maximize the social impact of the social enterprise.
Venture philanthropy
is an investment with a high involvement level of a social investor’s expertise. In this case, the social investor not only helps financially with the social enterprise development, but also aims to implement all their experience in project management and support in order to maximize the social impact of the social enterprise.
Social impact
is a change in people's lives as a result of a certain type of activity.
Social value
is a way of calculating the relative importance of impact that is not reflected in financial or market transactions.
Impact investing
refers to investments made in companies and organizations and to funds (investment objects) with the intention to create measurable, beneficial, social and environmental impact along with financial returns.
Social enterprise
is a representative operator of the social economy. Its main goal is to achieve social impact rather than make a profit for their owners or shareholders.
The activities of such an enterprise are aimed at selling services or goods primarily to achieve social objectives. The term "social enterprise" is used to cover such types of businesses that:
• aim at the work integration of vulnerable segments of population;
• aim at the development of depressed areas;
• provide social services;
• develop such spheres as sports, ecology, and culture.
Social investor
is a capital owner who invests in social impact and supports innovative solutions to social problems by providing financial and extensive non-financial support.
Venture philanthropy is an investment with a high involvement level of a social investor’s expertise. In this case, the social investor not only helps financially with the social enterprise development, but also aims to implement all their experience in project management and support in order to maximize the social impact of the social enterprise.
Venture philanthropy
is an investment with a high involvement level of a social investor’s expertise. In this case, the social investor not only helps financially with the social enterprise development, but also aims to implement all their experience in project management and support in order to maximize the social impact of the social enterprise.
Social impact
is a change in people's lives as a result of a certain type of activity.
Social value
is a way of calculating the relative importance of impact that is not reflected in financial or market transactions.
Impact investing
refers to investments made in companies and organizations and to funds (investment objects) with the intention to create measurable, beneficial, social and environmental impact along with financial returns.
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USVF / Ukrainian Social Venture Fund
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