Fedorov Seeks US Investment for Defense Tech Fund, Offers Drone Swap for Patriots

Former Ukrainian Defense Minister Mykhailo Fedorov is seeking Western investment for a new defense technology fund and has proposed a direct exchange with the United States: Ukrainian drone expertise in return for Patriot missile interceptors. The initiative, outlined during a visit to Washington, comes as Ukraine faces critical shortages of the interceptor missiles needed to defend against Russian ballistic attacks.

Fedorov, who was dismissed from his post in July, told the Financial Times he is in discussions with venture capitalists, private investors, and U.S. technology companies to back a fund that would both invest in existing Ukrainian defense startups and create new companies. He described the vehicle as not exactly a classic venture fund, stating, "We're writing a new history of the war." The fund would initially focus on three key areas: battlefield robotics to reduce troop exposure, high-speed interceptor drones to counter Russia's newer jet-powered attack drones, and low-cost missiles equipped with artificial intelligence.

The proposal for a technology swap is framed as a solution to Ukraine's air defense crisis. "I'm ready to make that trade," Fedorov said,...