U.S. Overseas Private Investment Corporation (OPIC) would provide up to $25 million of financing to Dragon Capital New Ukraine Fund (DCNUF) created by Dragon Capital jointly with Ukrainian Redevelopment Fund LP (URF) managed jointly with Soros Fund Management (SFM).

OPIC said in a report that its board approved the provision of the funds for 10 years at a meeting on June 9.

According to the report, the fund is targeting $150 million to invest in Ukraine, through the use of privately-negotiated equity instruments, in well established businesses with strong management teams and growth potential. The fund will seek to invest in six to twelve investments and generally will seek control positions. The fund will focus on key industrial sectors for the economy including agriculture, port terminals and infrastructure, logistics, retail and consumer goods, and real estate, all sectors in need of private equity investment.

The founder and head of Dragon Capital Tomas Fiala earlier said that three possible projects have passed due dilligance.

"We think that we would be able to announce first deals within three months," he said.

Fiala said that Dragon Capital New Ukraine Fund was formalized with famous philanthropist George Soros in October 2015.