Chernovetskyi Investment Group has become the KSE partner for ProZorro. Sale


The Kyiv School of Economics and an international investment group Chernovetskyі Investment Group (CIG) have entered into a partnership agreement in the area of development and research that will facilitate the further project implementation "Development of ProZorro. Sale".

The project goal is to promote research in the area of IT and economics within the framework of the project "Development of ProZorro. Sale".

To implement the project, CIG provides financial assistance in the amount of 100 thousand dollars. Control over the use of funds will be carried out by a special Supervisory Board composed of: Maksym Nefyodov, First Deputy Minister of Economic Development and Trade of Ukraine, Illia Mikhailov, Deputy Director of the Department for the Consolidated Asset Sale of the Deposit Guarantee Fund, Tymofiy Mylovanov, KSE Honorary President, and Oleksii Sobolev, Project Manager of ProZorro. Sale.

Timofii Mylovanov, Honorary President of the Kyiv School of Economics, emphasized the importance of the scientific and IT components for the ProZorro platform development. Sale.

"Starting with unique two-tier architecture and ending with auction design, the project is an innovator, not only within Ukraine, but also beyond its borders. World-known economists took part in the development of a new auction type based on the Dutch model. This makes the project considered and effective. We thank our partners for supporting the scientific component of this activity," - he added.

"The potential of Ukrainian IT projects is enormous, and not only in the local market. We believe that world-class projects can and should appear in Ukraine. That is why we support vocational education in this area as well as scientific developments. Our goal is to realize the concept of IT patriotism, namely, to build our own powerful infrastructure in Ukraine, which will lead our country to the worldwide IT-leaders. Despite the fact, that CIG does not participate in the project and will not join an e-commerce platform of ProZorro. Sale (and this is a condition of our participation), we are interested in it, as in the project that changes the economic and technological landscape of Ukraine", - said the managing partner of Chernovetskyi Investment Group Volodymyr Kryvko.

The Kyiv School of Economics (KSE), founded in 1996 by the Economics Education and Research Consortium (EERC), is a world-class educational institution with a reputation for excellence both in Ukraine and internationally. Most of the School's teachers received a PhD degree and are actively involved in an exploratory activity. KSE is among the top schools in Central and Eastern Europe, producing a future generation of world-class economists. In doing so, it helps to improve the economic, business, and policymaking environments of Ukraine and neighbouring countries.

ProZorro.Sale - is an electronic trading system used for asset sales of insolvent banks that are under the management of the Deposit Guarantee Fund and asset disposal of state and communal enterprises.

The project does not use budget funds. The partners of the project are Western NIS Enterprise Fund (WNISEF) – is a $150 million pioneering regional private equity fund іn Ukraine and Moldova, backed by the US government through the United States Agency for International Development (USAID), and a public organization Transparency International Ukraine - the Ukrainian branch of the world-known anti-corruption organization Transparency International, founded in Berlin in 1993 by Peter Eigen, a former regional director of the World Bank. Besides, ProZorro.Sale develops with the support of GiZ, Embassy of the Netherlads and charitable donations of Ukrainian business.

Chernovetskyi Investment Group (CIG) is one of the largest investment companies in the post-Soviet (CIS) market. Founded in 2013, its investment potential is more than $100 million. CIG has already invested in the following IT companies:,, Softcube and In 2015, CIG invested $1 million in KIDO’Z (Israel), a platform for children and $1 million to the international online bus ticket booking service Busfor. In 2017, the Indian project on ready-made meals delivery Inner Chef was invested, as well as Kray Technologies, a manufacturer of commercial drones for agro-companies.

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