Fedorov offers drone technology to US in exchange for Patriots, seeks funding for defense tech fund

Former Defense Minister Mykhailo Fedorov is seeking U.S. investment for a new defense technology fund and offering to help Washington develop drone capabilities in exchange for Patriot missile interceptors for Ukraine, he told the Financial Times in an interview published Aug. 30.

The proposal comes as Fedorov has begun an international trip that has included Italy and the United States after being dismissed by President Volodymyr Zelensky as defense minister.

Fedorov told the FT in Washington that he is seeking backing from venture capitalists, private investors, and U.S. technology companies for a fund that would invest in Ukrainian defense startups and create new companies focused on battlefield technologies.

"This is not exactly a classic venture fund," Fedorov said in an interview. "We're writing a new history of the war."

Fedorov said the fund would initially focus on battlefield robotics, high-speed interceptor drones capable of countering Russia's newer jet-powered attack drones, and low-cost missiles equipped with artificial intelligence.

He also proposed a direct exchange with the United States, saying he would be willing to help Washington "build an army of drones" in return for Patriot interceptors to help Ukraine withstand Russian attacks this winter.

"I'm ready to make that trade," Fedorov told the FT.

Ukraine has faced a critical shortage of Patriot interceptors as Russia has intensified missile and drone attacks against Ukrainian cities and infrastructure. The U.S.-made systems are among the few weapons capable of intercepting Russia's ballistic missiles.

Fedorov said Ukraine had already tested high-speed drones designed to bring down Russia's jet-powered attack drones and argued that they could be produced at scale with additional investment.

"We need more jet drones, we need cheap missiles, we need missiles with artificial intelligence," he said. "You can't conduct any kind of dialogue with Putin any other way. He understands only force."

Fedorov served as defense minister from January to July before Zelensky dismissed him in a Cabinet reshuffle. His firing triggered weeks of protests across Ukraine and elevated Fedorov's profile as a potential political rival to Zelensky.

After Zelensky declined to reinstate him as defense minister earlier this month, Fedorov called for wartime elections, a move that divided public opinion.

In an interview with the FT, Fedorov defended his call for elections, saying it was not aimed at replacing Zelensky but at updating the country's governing system.

"This is not against Zelensky, it's not against some specific person," Fedorov said. "It's about the fact that we need to … update the state's operating system."

Fedorov's trip to the U.S. follows a visit to Italy, where he agreed to serve as an unpaid adviser to Italian Defense Minister Guido Crosetto on modern warfare technologies, his press service told the Kyiv Independent on Aug. 28.

Fedorov's press service said his primary focus would remain on projects in Ukraine and efforts to attract international resources for the country's defense technology sector. During his meeting with Crosetto, the two discussed drones, autonomous systems, air defense, and the development of Ukraine's defense technology ecosystem.

The FT reported that Fedorov was also considering similar advisory roles with other partner countries, potentially including France and the United States. He declined to say whether he planned to meet with officials from the Trump administration during his Washington visit.

Fedorov also said he remained in close contact with U.S. billionaire and SpaceX CEO Elon Musk, but declined to comment on whether he planned to meet him in the U.S. Ukraine has relied heavily on Musk's Starlink satellite communications system throughout the war.

Previously, Zelensky awarded Musk Ukraine's Order of Liberty on Aug. 26, as Kyiv seeks his approval to use Starlink on drones operating inside Russia.