Business news from Ukraine

WNISEF TO COMMITS $30 MLN TO EEGF III FOR INVESTING IN EXPORT-ORIENTED COMPANIES IN UKRAINE, MOLDOVA

26 June , 2017  

KYIV. June 26 (Interfax-Ukraine) – Western NIS Enterprise Fund (WNISEF) has committed $30 million to Emerging Europe Growth Fund III, LP (EEGF III) to invest through EEGF III in fast-growing, export-oriented companies with roots in Ukraine and Moldova, WNISEF has said in a press release.
According to the report, EEGF III expects to invest, in sectors including information technology, light manufacturing and food and agriculture.
“Ukraine and Moldova have demonstrated impressive exports growth of 29% and 27%, respectively, in the first quarter of 2017, which is expected to provide attractive investment opportunities for this new fund,” WNISEF President and Chief Executive Officer Jaroslawa Z. Johnson said.
A target size of the new fund is $150 million. The fund will be investing alongside the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Dutch development bank FMO and German investment corporation DEG, a wholly-owned subsidiary of KfW and other international institutions.
Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova with more than two decades of successful experience in investing in small and medium-sized companies. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). In 2006, Horizon Capital was spun out from WNISEF, following the path forged by other Enterprise Funds, raising three funds with over $700 million under management. In 2015, WNISEF launched a $35 million legacy program focused on export promotion, local economic development, impact investing and economic leadership.