13:51 23.03.2017

EBRD could invest up to $30 mln in new Horizon Capital's fund for Ukraine

2 min read
EBRD could invest up to $30 mln in new Horizon Capital's fund for Ukraine

The European Bank for Reconstruction and Development (EBRD) could make an equity investment of up to $30 million in Emerging Europe Growth Fund III, L.P. (EEGF III, Delaware, the United States) launched by Horizon Capital Advisors, LLC mainly for investment in Ukraine and Moldova.

According to a report of the bank, the decision is pending the final review by the board on May 4.

The fund has a target size of $150 million.

The fund will seek to generate long-term capital appreciation through equity and quasi-equity investments in growth-oriented small and medium-sized enterprises and mid-market companies primarily in Ukraine and Moldova.

EBRD said that the fund is a follow-on fund to Emerging Europe Growth Fund I and II.

As reported, in June 2016, OPIC (Overseas Private Investment Corporation) said that the OPIC would provide up to $37.5 million to EEGF III launched by Horizon Capital for the period of up to 10 years.

The fund with a target size of $150 million will invest in export-oriented, fast-growing, mid-size companies in Ukraine and Moldova with the potential to grow from local to regional market leaders. The fund will primarily target minority stakes in high growth Ukrainian companies. It may also invest in early-stage, buyout and privatization opportunities as they arise.

Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million capital).

The money of these funds is invested in projects in Ukraine, Moldova, and Belarus.

The founding partner and CEO of Horizon Capital is Lenna Koszarny.

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