Horizon Capital has announced the third stage of closing of its new Horizon Capital Growth Fund IV (HCGF IV), which increased its size from $254 million to $298 million, founder and CEO of the company Elena Koszarny wrote on Facebook on Thursday.
“We managed to attract more than 65% of private sector capital from leading institutions, family offices, foundations and other investors, as well as receive a $10 million replenishment from the EBRD, which increases their commitment from $40 million to $50 million,” she said.
She thanked the investors for the opportunity to extend the final stage of the fundraising until December 31, 2023.
“Horizon Capital believes strongly in Ukraine and Moldova, in compelling investment opportunities from world-class founders in our core markets, and in our ability to deliver returns and impact for our investors, as evidenced by our HCGF IV team’s contribution, which now exceeds 4% of the funds raised,” Koszarny added.
As reported, in late April, Horizon Capital announced the closing of the second round of investment and raising $254 million against its target size of $250 million.
Since then, HCGF IV has announced one investment – in the Ukrainian company Preply, a leading global platform for learning foreign languages online, without specifying a specific amount.
IFC, as one of the investors, specified that the fund would invest $10-30 million to acquire minority stakes in 10-15 companies in Ukraine and Moldova with an average capitalization and value of $50-150 million. According to the corporation, HCGF IV is the successor to the $200 million EEGF III, which was formed in 2017, and will follow a similar investment strategy focused on IT services and products, as well as e-commerce, innovative consumer goods and fintech.
Horizon Capital is a large investment company that manages six private equity funds (more than 40 institutional investors) with $1.4 billion in assets, including WNISEF (with $150 million in capital), Emerging Europe Growth Fund (EEGF, $132 million), EEGF II ($370 million) and EEGF III ($200 million), and HCGF II ($258.3 million). The funds have been invested in more than 160 companies employing over 77 thousand people in Ukraine and Moldova.
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