DFC invests $25 mln, Proparco EUR17.3 mln, Swedfund and Finnfund each $15 mln, IFU $5 mln in new Horizon Capital fund.

The U.S. International Development Finance Corporation (DFC, formerly OPIC) has invested $25 million in the equity capital of the new fund of Horizon Capital investment company– Horizon Capital Growth Fund IV (HCGF IV), which announced that it has raised a total of $254 million.

“I am proud of DFC’s equity investment in Horizon Capital’s latest fund, to provide growth stage companies in Ukraine with the capital they need to create jobs and opportunities for the Ukrainian people across important sectors,” DFC CEO Scott Nathan said.

French Ambassador to Ukraine Etienne de Poncins signed the agreement on behalf of Société de Promotion et de Participation pour la Coopération Économique (Proparco) and Agence Française de Développement (AFD) on investments of EUR17.3 million in HCGF IV at this ceremony with the participation of President of Ukraine Volodymyr Zelenskyy.

“Large-scale project to support the Ukrainian economy and the development of the Ukrainian IT sector. Solidarity,” he said on Twitter.

In addition, Swedfund International AB (Swedfund) and the Finnish Industrial Cooperation Fund (Finnfund) announced investments in HCGF IV in the amount of $15 million each, noting the importance of Ukraine’s IT sector that survived the war for the development of the country, creating jobs and providing foreign exchange earnings.

Another $5 million was contributed to the new Horizon Capital fund by the Danish Investment Fund for Developing Countries (IFU), which is a member of the previous EEGF III fund.

“IFU is planning additional investments from its Ukraine facility, including potential projects together with Danish partners that are ready to deepen existing activities or enter into new enterprises that contribute to Ukraine’s economic recovery and development potential,” the IFU said.

Representatives of the management of all these funds were also present at the ceremony of signing the agreements and during their visit to Kyiv held meetings with representatives of the government, the Office of the President and business.

Earlier it was reported that the largest participant in the new HCGF IV was the International Finance Corporation (IFC) from the World Bank Group, which contributed $30 million as part of the first round of fund formation closed in September last year, when it raised $125 million, and another $30 million as part of last round.

Source: https://interfax.com.ua