The financial company Investohills Vesta, together with investors from the European Union and the United States, has created the Investohills Helianthus $100 million seed fund to invest in the Ukrainian market of distressed debts, the company said on its website.
According to the report, the first issue of shares of the relevant fund (in the amount of UAH 1 billion in June 2020) was approved by the National Securities and Stock Market Commission and distributed among investors.
Investohills Vesta will manage the fund’s activities in the interests of foreign investors, as well as provide them with a range of services in the field of redemption and collection of bad debts, litigation, storage and management of distressed and collateralized assets.
“The Ukrainian bad debt market is interesting to foreign funds specializing in such investments. But they are stopped by Ukraine’s specifics: weak protection of creditors’ rights at the level of legislation and the judiciary. Investohills Group and the fund… has offered a full cycle of support for investment-attractive deals with bad debts,” the founder and managing partner of the financial company, Andriy Volkov, said.
According to the release, on August 19, 2020, the fund closed its first deal, having bought out a portfolio of troubled assets of VTB, Rodovid and Financial Initiative banks from the Deposit Guarantee Fund for UAH 1.314 billion.