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Mykhailo Fedorov plans to launch a new defense technology fund and seeks investment from Palantir Technologies Inc. CEO Alex Karp.

Mykhailo Fedorov, the former Ukrainian Defense Minister, is launching a new defense technology fund to develop companies that design new weapons and technological solutions for the war against Russia. The fund aims to draw on technologies and lessons learned during the war in Ukraine, particularly in the use of drones, artificial intelligence, and battlefield software. Alex Karp, the CEO of Palantir Technologies Inc., will be the first major investor in the new defense-tech company. While the size of the investment is not disclosed, the deal expands Karp's exposure to the military technology industry beyond Palantir Technologies Inc. Fedorov also plans to attract investment from venture capital, private investors, and American technology companies. He intends to the fund to help create and develop companies that will design new types of weapons and technological solutions for the war against Russia. He believes that if the conflict continues for another two or three years, the fund will develop modern battlefield solutions while investors will gain access to the Ukrainian experience and knowledge accumulated during the war.

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