Core Insights - TechMet, a U.S.-backed investment vehicle, is looking to expand its portfolio, including a bid for a lithium deposit in Ukraine, while expressing concerns over Europe's slow progress in developing a critical minerals sector to counter Chinese dominance [1][5]. Company Overview - TechMet currently holds stakes in 10 companies, including Brazilian Nickel and Rainbow Rare Earths, and aims to add more investments within the next 12 months [1]. - The company's valuation is approximately $1.3 billion, which limits its investment scope due to potential dilution of current investors when raising large sums [2]. Investment Opportunities - TechMet raised $300 million earlier this year, with $180 million coming from the Qatar Investment Authority, and has reopened fundraising expected to close in 3 to 5 weeks at a significantly higher amount [3]. - The Dobra lithium deposit in Ukraine is a key opportunity for TechMet, anticipated to be the first project in a joint investment fund with the U.S. established in April [3][4]. Strategic Positioning - TechMet is backed by the U.S. government, enhancing its credibility in operational, technical, and financial capacities, particularly in the context of the Ukraine-U.S. reconstruction fund [4]. - The U.S. has been proactive in establishing a domestic critical minerals sector, exemplified by a multibillion-dollar deal with MP Materials in July [5]. Industry Context - The EU is also attempting to reduce its reliance on Chinese critical raw materials through the Critical Raw Materials Act, but efforts are perceived as insufficient compared to U.S. initiatives [5][6].