Resist
Ukrainian defense-tech venture/PE hybrid fund founded in 2023 and led by Roman Sulzhyk (ex-J.P. Morgan), raising a €50M second fund based in Estonia; Farsight Vision is a named portfolio company, and the fund participated in its €7.2M seed round.
Resist is a Ukrainian venture-private equity hybrid fund founded in 2023 by Founding Partner Roman Sulzhyk (ex-J.P. Morgan, ex-Deutsche Bank), alongside partners Oleksii Komlichenko, Borys Shestopalov, and Taras Zharun. Fund I invests $250K-$2M at pre-seed/seed in Ukrainian defense-tech companies; the fund is now raising a second vehicle (Resist 2.0), established as a European investment platform targeting up to €50M from international investors, with later-stage checks up to €3-5M.
Overview
- Firm
- Resist
- Headquarters
- Kyiv, Ukraine
- Founded
- 2023
- AUM
- Targeting up to €50M for its second fund (Resist 2.0), raising as of July 2026 — not yet closed; Fund I portfolio deployed $10M+
- Stages
- Pre-Seed, Seed, Series A
- Thesis
- A venture-private equity fund focused on investing in Ukrainian defence tech companies and helping them scale into global industry leaders — a gateway between Ukraine and the global defence ecosystem, combining venture speed with private equity discipline and a reinvestment-first approach focused on long-term growth, production, and resilience.
Portfolio companies1
Partners0
No linked records yet.
Frequently asked
- What is Resist?
- A venture-private equity fund focused on investing in Ukrainian defence tech companies and helping them scale into global industry leaders — a gateway between Ukraine and the global defence ecosystem, combining venture speed with private equity discipline and a reinvestment-first approach focused on long-term growth, production, and resilience.
- How much does Resist manage?
- Resist manages Targeting up to €50M for its second fund (Resist 2.0), raising as of July 2026 — not yet closed; Fund I portfolio deployed $10M+ in assets, and was founded in 2023.
- What stages does Resist invest at?
- Resist invests at Pre-Seed, Seed, Series A.
Sources & citations3
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- 1
Resist is a Ukrainian venture/PE hybrid fund founded in 2023, led by Founding Partner Roman Sulzhyk, investing $250K-$2M at pre-seed/seed with later checks up to €3-5M.
Resist: Official siteVerified2026-08-09 - 2
Resist launched a second fund (Resist 2.0) targeting up to €50M in European capital, established as a European investment platform for international investors.
Tech.eu: Resist.UA launches $50M European fund to scale Ukraine's battlefield-proven defencetechVerified2026-07-21 - 3
Resist participated in Farsight Vision's €7.2M seed round (announced Feb 2026), led by Axon Enterprise and SmartCap Defence Fund.
TechUkraine: Farsight Vision secures €7.2M to build ultimate UAV autonomy stackVerified2026-02-12