Horizon Capital, a private equity firm based in the US, has announced the successful closure of its latest Ukraine-focused fund, the Horizon Capital Growth Fund IV (HCGF IV), on February 23. The fund raised $350M (approximately €323M) in commitments during its final closing in Tokyo, exceeding its initial target of $250M (approximately €230M) by 40%. This achievement brings Horizon Capital’s assets under management (AUM) to $1.6B.
HCGF IV has garnered support from a consortium of investors with a combined capital base of over $700B, including international financial institutions like IFC, EBRD, and EIB through its EU for Ukraine Fund, DFC, DEG, FMO, JICA, Proparco, SIFEM, Swedfund, Finnfund, WNISEF, and IFU. The fund also received backing from global institutional investors, foundations, family offices, and private investors managed by abrdn Private Equity, Blue Earth Capital, and Zero Gap Fund.
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Impact Investing Collaboration
The fund benefits from an impact investing collaboration between The Rockefeller Foundation and the John D. and Catherine T. MacArthur Foundation, along with contributions from notable individuals such as Marcin Zukowski (Co-Founder of Snowflake), Andy Kurtzig (Founder and CEO of JustAnswer), and investors and philanthropists George and Rayla Myhal, among other esteemed Limited Partners.
First Three Investments
During its fundraising, Horizon Capital completed three investments, providing growth capital to expand R&D platforms in Ukraine and enhance international reach. The fund’s first three investments include Preply, transforming language learning by connecting learners with tutors online; GoIT, offering specialized IT education programs; and Viseven, supporting pharmaceutical companies in their digital transformation efforts.
A Historic Fund for Visionary Entrepreneurs
Lenna Koszarny, founding partner and CEO of Horizon Capital, dedicated the fund to the visionary entrepreneurs of Ukraine, praising their strength, courage, and resilience. The involvement of Ukrainian President Volodymyr Zelenskyy in two HCGF IV closings underscored the global support for Ukraine, providing capital for economic renewal and job creation at a critical time.
Global Support for Ukraine
Koszarny expressed gratitude to the esteemed investors for their trust and partnership, highlighting the global support and admiration for Ukrainians defending their country and powering its economic resilience. The fundraising journey showcased steadfast support for Ukraine and a commitment to its future recovery, revitalization, and renewal.
With this significant funding, Horizon Capital is poised to continue backing visionary entrepreneurs from Ukraine and Moldova, contributing to the region’s economic growth and development amidst challenging times.
