Olena Mazhuha (Flyer One Ventures)
Overview
Olena Mazhuha is a partner at Flyer One Ventures (F1V), a prominent venture capital firm based in Ukraine. Known for her extensive experience in the venture capital industry, Mazhuha has been instrumental in leading seed, late seed, and Series A investment deals at F1V. Her career is marked by significant achievements, including co-founding and helping Flyer One Ventures secure a €50 million fund dedicated to supporting early-stage technology companies across Ukraine and Central and Eastern Europe (CEE). Her strategic contributions have been pivotal in situating Flyer One Ventures as a key player in the venture capital ecosystem.
Recent Developments
- July 2025: Flyer One Ventures announced its new €50 million fund, Fund V, with backing from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). This fund aims to support early-stage tech companies in Ukraine and CEE, reinforcing the region's digital entrepreneurship infrastructure (source: The Recursive).
- April 2025: Mazhuha commented on the evolving venture capital landscape in the age of AI, emphasizing the critical role of real-value AI tools and the competitive edge of Ukrainian and CEE founders in global markets (source: UA Tech Today).
- 2024: Flyer One Ventures continued to expand its portfolio with investments focused on fintech, edtech, and consumer technology sectors, having significantly backed companies like Fintech Farm and Mate Academy. The fund's growth has been significantly influenced by Mazhuha's strategic insights and extensive network in the tech industry.
- 2022: Mazhuha, along with Flyer One Ventures, played an active role at various international conferences such as Web Summit, promoting Ukrainian tech startups and aiding them in networking and scaling their business operations globally.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Olena Mazhuha |
| Born | Unknown, based in Kyiv, Ukraine |
| Nationality | Ukrainian |
| Occupation | Venture Capitalist, Partner at Flyer One Ventures |
| Known For | Co-founding Flyer One Ventures |
| Net Worth | Unknown |
| Education | Bachelor's degree in Economics from National University of Kyiv-Mohyla Academy |
Early Life and Education
Olena Mazhuha was born and raised in Ukraine, where she developed an early interest in technology and finance. She pursued a Bachelor's degree in Economics from the National University of Kyiv-Mohyla Academy, which equipped her with the foundational skills needed for a career in venture capital and finance. During her academic journey, Mazhuha was actively involved in the CFA Research Challenge, where she honed her analytical and financial skills. Her participation in global programs such as the Alfred Friendly Press Partners fellowship in 2016 further broadened her international perspective, preparing her for the dynamic and fast-paced world of venture capital.
Career and Notable Achievements
Olena Mazhuha's career began in corporate sectors with roles at Citibank and EY, where she gained substantial experience in financial management and strategic investment. She joined TA Ventures and later 1+1 Media Group, where she worked on numerous high-impact projects. In 2018, Mazhuha co-founded Flyer One Ventures, becoming one of the firm’s key partners alongside Oleksii Yermolenko. Her leadership has been critical in:
- Building the communications team at F1V, enhancing portfolio startups' PR strategies.
- Securing €50 million in funding for early-stage tech companies across CEE.
- Successfully investing approximately $45 million across more than 90 startups, achieving notable exits such as VOCHI acquired by Pinterest.
- Making significant contributions to high-growth sectors such as fintech and edtech.
Current Work and Impact
Currently, Olena Mazhuha continues to spearhead investments at Flyer One Ventures, focusing on scalable innovations and global market expansion. Under her guidance, F1V backs software-centric startups that strive to solve real-world challenges, thereby nurturing the next generation of tech leaders from Eastern Europe. Mazhuha's strategic foresight and commitment to fostering entrepreneurship have made significant strides in attracting international investments to the Ukrainian tech ecosystem, solidifying her influence in the industry.
Conclusion
Olena Mazhuha remains a formidable force in the venture capital scene, known for her visionary investments and robust support of emerging startups. Her contributions to Flyer One Ventures have not only advanced the firm’s success but have also had a lasting impact on the broader tech ecosystem in Ukraine and CEE. As Mazhuha continues to drive innovation and support burgeoning entrepreneurs, her work is expected to leave a profound legacy in fostering sustainable economic growth in the region's tech sector.