European Bank for Reconstruction and Development to allocate 30 million for direct investments in Ukraine
The European Bank for Reconstruction and Development (EBRD) decided to allocate $30 million to the Emerging Europe Growth Fund III, L.P. (EEGF III). It is a direct investment fund, launched by Horizon Capital for investments, mainly into Ukraine, as reported by Anton Usov, EBRD's Senior Communications Advisor.
"The EBRD is investing $30 million into the Emerging Europe Growth Fund III, which will invest in the shared capital of small and medium-sized enterprises in Ukraine. The goal for the fund is $150 million. Western NIS Enterprise Fund, IFC, FMO, DEG and other investors have already confirmed their participation in it. The Fund is going to support fast-growing, export-oriented, small and medium-sized businesses," he wrote on Facebook.
The first funding of the EEGF was $132 million dollars and the second was $370 million. The declared amount of the third fund is $150 million. It will focus on medium-sized, fast-growing, export-oriented companies in Ukraine and Moldova that have the potential to become local or regional market leaders.
Horizon Capital was founded in 2006 by four partners who started their cooperation with the Western NIS Enterprise Fund (WNISEF) in 1994 with an initial capital of $150 million for Ukraine and Moldova. Currently, the founder and CEO of Horizon Capital is Elena Kosharnaya and the Horizon Capital offices are located in Kyiv and Chicago.
The company manages WNISEF direct investment funds, EEGF (established in 2006 with a capital of $132 million) and EEGF II (established in 2008 with a capital of $ 370 million). The assets of these funds are invested by the company into projects in Ukraine, Moldova, and Belarus.