Green Flag Ventures
Los Angeles, California, United States
Overview
Green Flag Ventures is a venture capital firm dedicated to nurturing the growth of the Ukrainian tech ecosystem through targeted investments in early-stage startups. With a keen focus on dual-use technology, the firm manages a $20M fund, strategically investing in innovative companies that show potential for both commercial and strategic applications. Our investment range lies between $150K and $1M, aimed at startups with pre-money valuations of $1M to $25M. Our approach is unique, bridging critical gaps between the Ukrainian and US tech sectors, thereby fostering a vibrant cross-border exchange of ideas, technology, and resources. Co-founded by Justin Zeefe in the USA and Deborah Fairlamb in Ukraine, Green Flag Ventures capitalizes on its founders' diverse expertise and deep understanding of both markets. We offer more than just capital; our portfolio companies gain access to an ecosystem of support, including mentorship, network connections, and operational guidance, ensuring not just growth but also sustainable development. At Green Flag Ventures, we believe in the transformative power of technology and entrepreneurship. Our mission is to be at the forefront of this transformation, empowering Ukrainian founders both at home and abroad. We are committed to achieving superior returns for our investors while playing a pivotal role in the regional growth and stability. Through our proprietary deal flow and rigorous diligence process, we ensure that each investment is poised for outsized growth and favorable outcomes, aligning investor success with regional progress.
- Total investments
- 2
- Lead investments
- 1
- Investments · 12mo
- 1
- Active investors
- 2
Sector focus
- Artificial Intelligence (AI)
- Cyber Security
- Hardware
- Information Technology
- Military
- Security
Investment portfolio
- Himera
Led · Seed · Dec 2025
Himera is a Ukrainian developer and manufacturer of tactical radios and networking hardware whose current product, the HIMERA 2.0 tactical communications network, is designed to operate in harsh combat conditions. The team is now expanding this foundation into a broader "Comprehensive Resilient Network" that will let every frontline asset—from voice comms and situational-awareness apps to UAVs and ground robots—share data over a single, secure infrastructure. Hardware remains the company’s core know-how, protected largely through trade secrecy rather than patents to avoid exposing details to adversaries. Himera has already landed one contract in the United States and another with a NATO country, using higher-margin export sales to subsidise almost break-even pricing for Ukrainian forces. Management reports quarter-over-quarter growth and expects a sharp acceleration (“rocket” growth) in 2026, though it withholds exact revenue or production volumes for security reasons. Since inception the company has raised more than $3.2 million, including a freshly closed $2.5 million seed round that followed a fast pre-seed completed in three weeks. Competitive differentiation comes from rapid battlefield-driven innovation and an integrated approach that legacy players such as Motorola have yet to match.
- Teletactica
Participated · Equity · Jul 2025
Teletactica builds communication ecosystems for managing drones and transmitting video streams, with solutions already used operationally in Ukraine and compatible with most UAV types. The company is developing a tactical communication system designed to resist jamming and provide extended command-and-control functionality for drones. It operates offices in Ukraine, Estonia, and Latvia and is currently in the production and testing phase of its new system. Under an 18-month Estonian Ministry of Defense-funded programme (project budget €300,000, 40% grant-funded), Teletactica will produce prototypes and run laboratory and field tests with regional partners. The team has also started producing its own drones to support demonstrations and intends to move toward full-scale UAV manufacturing and sales. The system under development aims to enable mobile copters to operate stably at distances of 35–40 km in contested electronic environments.