As you know, at the beginning of 2024, Horizon Capital Growth Fund IV (HCGF IV) from the investment company Horizon Capital attracted $350 million to finance private companies in Ukraine, increasing the total amount of assets under management to $1.6 billion.
Among them, investors are international financial institutions: the European Bank for Reconstruction and Development (EBRD), IFC and the European Investment Bank, government investment agencies of a number of countries, from Denmark to Japan, private funds and investors.
International institutions and funds: IFC (World Bank), EBRD, DEG (Germany), European Investment Bank (EU), DFC (USA), FMO (Netherlands), JICA (Japan), Proparco (France), SIFEM (Switzerland), Swedfund (Sweden), Finnfund (Finland), IFU (Denmark), WNISEF.
Private investors: funds managed by abrdn, Blue Earth Capital and Zero Gap Fund, a fund created jointly by the Rockefeller Foundation and the John D. and Catherine T. MacArthur Foundation, Snowflake co-founder Marcin Zukowski, JustAnswer founder Andy Kurtzig, investors and philanthropists George and Rila Mihaly.
Three Ukrainian companies have already received investments from the new Horizon Capital Growth Fund IV (HCGF IV). In July 2023, Horizon Capital led a $70 million round in the Ukrainian educational startup Preply. In November 2023, the GoIT programming school was invested. In mid-January 2024 - IT company Viseven, which helps pharmaceutical companies with marketing software.
By the end of 2024, the fund expects to increase the number of investments to at least 10. There are currently 120 projects in the fund's longlist.
In addition, Horizon Capital managed to interest the French billionaire Xavier Niel in the idea of building a new telecom giant in Ukraine through the merger of Datagroup and the mobile operator lifecell. The agreement can be finalized as early as May 2024.An investor from France is buying lifecell for $525 million and may pay $120-140 million for Datagroup-Volia.
In general, Horizon Capital Growth Fund IV will continue the winning strategy of the previous funds, in particular, investments will be directed to both technological and manufacturing companies with an emphasis on export. In particular, food and light industry. Similarly, domestic champions can be retail, FMCG, e-commerce, fintech.
As for investment checks, the fund can start investing with $5 million or immediately with $25 million, it happened that they started with $2-3 million, and then expanded the investment to $30 million.
During its existence, funds managed by Horizon Capital have invested in more than 170 companies. Assets under her management are more than $1.6 billion. The portfolio currently has 18 active investments.
The company crossed the mark of $1 billion under management in 2021. The next goal is $3 billion. This should bring Horizon Capital to the level of well-known European investment companies, for example, British Mid Europa - €6.2 billion under management, Polish Enterprise Investors - €2.3 billion.
