Aequo advised MITS Capital on a $3.74 million investment in Tencore

Aequo advised on the investment agreement between a U.S. fund and a Ukrainian DefenseTech company under the Diia.City legal regime.

At the Ukraine Recovery Conference 2025 in Rome, MITS Capital announced a $3.74 million investment in Tencore – one of the leading developers of unmanned ground vehicle platforms in Ukraine. The deal was executed through a Ukrainian legal entity and structured under Diia.City legislation, which has recently become available to defense companies.

Aequo’s team supported the transaction through all key stages, ensuring its alignment with both Ukrainian and international legal frameworks. This is an important step toward building clear and secure conditions for international capital in Ukraine’s defense sector.

Michael Lukashenko, Partner at Aequo and Head of the firm’s Defense, Security & Aerospace Industry Group:

"We aim to build conditions that allow Ukrainian companies to attract transparent foreign investment directly – without barriers or legal uncertainty. This agreement will serve as a benchmark for other companies bringing foreign capital into DefenseTech."

Tencore has already produced over 800 combat UGVs and plans to scale production to 2,000 units by the end of 2025. The investment will support the expansion of both R&D and manufacturing capacities.