Inzhur

What Inzhur does

Inzhur (ТОВ «ІНЖУР КЕПІТАЛ») is a Ukrainian investment company founded in 2008 that operates a licensed digital investment platform enabling retail investors to access large-scale commercial real estate, energy infrastructure, and Ukrainian government securities. The company is regulated by the National Securities and Stock Market Commission (NSSMC) under asset management license No. 508 dated 15 July 2021 and operates under Ukraine's Law on Collective Investment Institutions. Its core product suite comprises three vehicles: Inzhur REIT (a co-ownership fund holding 17 commercial and residential properties including supermarkets, shopping malls, retail parks, restaurants, and a residential complex); Inzhur Energy (a fund financing a 34 MW gas-piston maneuvering power station under contract with NEC Ukrenergo); and an OVDP market-making service where Inzhur reportedly clears over 80% of PFTS exchange trading volume across eight market-makers.

The platform is distributed through a self-service digital stack consisting of the inzhur.reit website, iOS and Android mobile applications, and a Telegram consultation bot (@InzhurREIT_bot), supplemented by a physical investor office in Kyiv's Prime Business Center (вул. Жилянська, буд. 48,50А). Investors onboard via Diia or BankID verification in under 15 minutes, with entry thresholds as low as 10 UAH for the REIT fund and 6,682.85 UAH for the Energy fund. As of 27 July 2026, Inzhur reports 103,278 active investor accounts, total fund assets of 7,406,229,376 UAH, and 1,628,151,329 UAH of cumulative investor income since 14 February 2022 (796,926,819 UAH in capitalization plus 831,224,510 UAH in paid dividends). A closed Telegram investor community of 30,000+ members functions as a community-driven engagement layer.

Revenue is generated through four streams: recurring management fees on the real estate and energy funds, monthly dividend distribution mechanics on the REIT (9.5% p.a. target in USD), capitalization-based returns on the Energy fund (15% p.a. in USD), and transaction-based spreads on government bond intermediation. In addition to the licensed investment business, Inzhur operates three wholly-owned subsidiaries: Inzhur Capital (depositary services within the non-bank financial group), Inzhur BUD (real estate development), and Inzhur MilTech (defense and military technology investments). The company holds memberships in NAREIT (US), EPRA (EU), the American Chamber of Commerce in Ukraine (ACCU), UNIC, the Confederation of Builders of Ukraine (КБУ), and the Ukrainian Energy Initiative (UEI), and relies on Deloitte as its auditor and Baker Tilly for independent property valuations.

Name

Inzhur

Legal name

ТОВ «ІНЖУР КЕПІТАЛ» (TOV INZHUR CAPITAL)

Website

https://inzhur.reit

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Ukrainian licensed investment platform operating three core products—Inzhur REIT (commercial real estate co-ownership), Inzhur Energy (gas-piston power infrastructure), and OVDP government bonds—serving 103,278 retail investors with approximately 7.4 billion UAH assets under management as of mid-2026.

Ownership category

akta.pro rank

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment fund management fees: Inzhur earns management fees from operating its real estate investment funds (Inzhur REIT and Inzhur Energy). The company acts as the asset management company (КУА) handling all relationships with tenants and service contractors.
2. Dividend distribution: Inzhur REIT generates monthly dividends from rental payments of commercial and residential tenants (supermarkets, restaurants, shopping malls, retail parks, residential complexes). Returns of 9.5% per annum in USD are paid monthly plus capitalization. Inzhur Energy provides 15% annual returns in USD through asset capitalization.
3. Government bond intermediation (ОВДП): Inzhur serves as a market-maker for Ukrainian government bonds (ОВДП), earning spreads or fees on bond transactions. The company is one of eight market-makers on the PFTS stock exchange, holding over 80% of exchange trading volume. Government bond income is tax-exempt for investors.
4. Investment certificates sales: Revenue generated from the issuance and sale of investment fund certificates (Inzhur REIT and Inzhur Energy).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Inzhur is a licensed Ukrainian asset management company (КУА) that issues and sells investment fund certificates to retail investors in three vehicles: Inzhur REIT (commercial and residential real estate co-ownership with monthly USD-pegged dividends at 9.5% p.a.), Inzhur Energy (a fund financing a 34 MW gas-piston power station under contract with NEC Ukrenergo, yielding 15% p.a. via asset capitalization), and OVDP Ukrainian government bonds (100% state-guaranteed, up to 16.5% p.a. in UAH). Investors access these through a self-service digital platform (web plus native iOS/Android apps) with online onboarding via Diia or BankID, a broker account, and certificate trading.

Product overview

Inzhur is a Ukrainian investment company offering multiple investment products including real estate funds, energy funds, and government bonds. The core offering includes Inzhur REIT (commercial and residential real estate with monthly dividends), Inzhur Energy (energy infrastructure investments), and OVDP (Ukrainian government bonds). Investors can start with as little as 10 UAH and access a personal investor account, broker account, and mobile application for managing their investments.

Differentiator

Problem solved

Functional benefit

Brands

• Inzhur REIT: Real estate fund offering commercial and residential property investments with monthly dividends and capitalization.
• Inzhur Energy
• Inzhur Capital
• Inzhur BUD
• Inzhur MilTech

Products and services

• Inzhur REIT (Investment Certificates) A real estate investment fund under which investors become co-owners of 17 commercial and residential properties (supermarkets, restaurants, shopping malls, retail parks, residential complexes, and underlying land) through purchased investment certificates. Investors earn monthly dividends from rental payments of tenants such as Silpo, MAK, and Fora and benefit from asset capitalization, with a target return of 9.5% p.a. in USD and minimum entry from approximately 11.14 UAH. As of July 2026 the fund has 85,772 co-owners and 6,228,821,760.49 UAH in assets.
• Inzhur Energy (Investment Certificates) An energy infrastructure fund where investors purchase certificates to co-own a 34 MW gas-piston maneuvering power station built under contract with NEK Ukrenergo and the Presidential program for restoration of Ukraine's energy independence. Returns are generated through asset capitalization at 15% p.a. in USD; certificates are reported as sold out. As of July 2026 the fund has 9,265 co-owners and 1,166,347,882.89 UAH in assets.
• OVDP (Ukrainian Government Bonds)

Quantifiable outcome

• 9.5% annual returns in USD for Inzhur REIT investors
• +4 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and supporting.

• НЕК УкренергоcoreStrategic or Co-development Partner · 14 February 2022National Energy Company of Ukraine - contractual partner for Inzhur Energy fund. The fund invests in construction of gas-piston maneuvering power stations under the Presidential program for restoration of Ukraine's energy independence. Contract ensures guaranteed off-take and revenue stability.
• NAREITcoreOthersMember of the National Association of Real Estate Investment Trusts (NAREIT), the American association representing REITs and publicly traded real estate companies. Membership demonstrates commitment to international REIT standards and practices.
• EPRAcoreOthersMember of the European Public Real Estate Association, the voice of the European publicly listed real estate sector. Membership aligns Inzhur with European real estate standards and best practices.
• American Chamber of Commerce (ACCU)supportingOthersMember of the American Chamber of Commerce in Ukraine, providing networking opportunities and alignment with international business standards.
• UNICsupportingOthersMember of the Ukrainian Network of Integrity and Compliance, demonstrating commitment to corporate governance and ethical business practices.
• КБУ (Кconfederation of Builders of Ukraine)supportingOthersMember of the Confederation of Builders of Ukraine, providing industry connections in the construction sector which is integral to real estate development operations.
• UEI (Ukrainian Energy Initiative)supportingOthersMember of the Ukrainian Energy Initiative, supporting the company's energy infrastructure investment activities through industry networking and expertise sharing.
• Baker TillycoreTechnology or IntegrationInternational professional services firm conducting independent property valuations for Inzhur's real estate funds. Ensures transparent and professionally certified asset valuations.
• DeloittecoreTechnology or IntegrationBig Four accounting firm serving as independent auditor for all Inzhur real estate funds. Conducts annual financial audits ensuring transparency and compliance with international auditing standards.

Scale indicators10 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Concorde Capital: Ukrainian investment company providing brokerage, corporate finance, and asset management services, including securities trading. Comparable as a regulated Ukrainian investment platform competing for retail investor capital and OVDP market share.
• Fundrise: US online platform enabling retail investors to access private commercial real estate through eREITs and interval funds with low minimums. Closely comparable business model: digital-first, self-serve real estate investment platform democratizing access to institutional-quality assets.
• ICU (Investment Capital Ukraine): Leading Ukrainian investment company providing asset management, brokerage, and government bond market-making services, including active OVDP trading on PFTS. Directly comparable as a Ukrainian licensed investment firm with overlapping retail and institutional offerings.
• Dragon Capital: One of the largest Ukrainian investment companies, offering asset management, brokerage, and investment banking services to retail and institutional clients. Directly comparable as a regulated investment platform operating in Ukraine with similar fee-based revenue model.
• Yieldstreet: US alternative investment platform offering individual investors access to real estate, energy, legal, and other private market income-generating assets with structured returns. Comparable as a multi-asset alternative investment platform serving retail investors with USD-denominated yield products.
• CrowdStreet: US commercial real estate investment marketplace offering individual investors access to institutional-quality property deals online. Comparable as an online commercial real estate investment platform serving non-institutional capital with similar low-minimum, certificate-like structure.
• RealtyMogul: US online platform offering individual investors access to commercial real estate through REITs and individual deals with low minimum investments. Comparable model of digital REIT/certificate investing with focus on income-producing commercial properties.

Emerging players

• AcreTrader: US online platform enabling retail investors to purchase shares of farmland through structured offerings with low minimums and target returns. Comparable as a niche online alternative-asset investment platform democratizing access to institutional-quality real assets.
• Rich Uncles: US online REIT platform offering individual investors dividend-paying commercial real estate portfolios with low entry minimums. Comparable as a retail-facing REIT crowdfunding platform with similar certificate/share-based ownership model.

Broad incumbents

• PrivatBank Brokerage: Largest Ukrainian bank offering retail brokerage and OVDP trading to millions of clients via Privat24 platform. Comparable as a dominant Ukrainian retail investment channel, particularly for OVDP, representing a scale incumbent that Inzhur competes against for retail capital.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCizm4WrZeuwFwtfT8c6Yemw
• Facebookfacebook.com/InzhurREIT
• Instagraminstagram.com/inzhur_reit?igsh=MW9nbm95d2p4aDJ6
• LinkedInlinkedin.com/company/inzhur

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inzhur