The International Finance Corporation (ШАС), a member of the World Bank Group, will invest up to $ 20 million in a private equity fund the Emerging Europe Growth Fund III of, the LP (EEGF III), launched by Horizon Capital for the investment mainly in Ukraine.
The Board of Directors approved this project at the meeting on 5 June, Interfax-Ukraine reported on 7 June with reference to the IFC.
The main investment object of EEGF III will be small and medium-sized growing enterprises.
IFC recalls that it is an investor of the EEGF II fund, and that participation in the new fund will help Horizon Capital complete the earlier initiated individual investments.
The European Bank for Reconstruction and Development can become a co-investor of the fund.
The size of the first EEGF fund was 132 million dollars, the second - 370 million. The declared size of the third fund is 150 million dollars. It will focus on medium-sized fast-growing, export-oriented companies in Ukraine and Moldova with the potential to enter local or regional market leaders.
Horizon Capital was founded in 2006 by four founding partners who began their collaboration with Western NIS Enterprise Fund (WNISEF) established in 1994 with a 150 million dollar capital focused on Ukraine and Moldova. Currently, the founder and CEO of Horizon Capital is Elena Kosharnaya, Horizon Capital offices are located in Kyiv and Chicago.
The company manages direct investment funds WNISEF, EEGF (established in 2006 with a 132 million dollar capital) and EEGF II (est. in 2008 with a capital of 370 million dollars). The funds of these funds are invested in projects in Ukraine, Moldova and Belarus.