#Ukraine #Kyiv #Horizon Capital #Catalyst Fund #Ukraine Recovery

Horizon Capital Secures First Closing of Catalyst Fund

Kyiv-based Horizon Capital, a prominent private equity firm in Emerging Europe, recently announced the successful first closing of its Horizon Capital Catalyst Fund (HCCF). With the firm managing a total of $1.8 billion in assets, this fund has raised over €150 million towards its ambitious €300 million target within just six months. This pivotal announcement was made during the Ukraine Recovery Conference in Rome last July, showcasing the firm's swift progress in addressing the dire need for equity capital in Ukraine's critical sectors, including energy, digital infrastructure, and construction.

Mobilizing Capital for Ukraine's Future

Horizon Capital's vision for the Catalyst Fund is expansive, targeting a total mobilization of approximately €3 billion, indicating a projected tenfold increase in resources directed toward crucial sectors. This initiative aims to provide integral capital to asset-heavy companies and projects in Ukraine, thus facilitating the entry of esteemed global strategics and funds into the Ukrainian market. By forming partnerships with reputable global investors, Horizon Capital is positioning itself as a key facilitator in the reconstruction process, emphasizing the immediate need for investment even amidst ongoing conflicts.

The Catalyst Fund's strategic approach is exemplified by its intent to replicate the successful transaction involving Datagroup, Volia, and Lifecell, which marked the largest M&A deal in Ukraine over the last decade. By inviting visionary global actors like Xavier Niel into the Ukrainian market, Horizon Capital aims to further bolster local partnerships, enabling a more resilient and resource-rich economic environment.

Partnership with Esteemed Investors

The initial closing of the Catalyst Fund occurred on January 20, 2026, at Ukraine House in Davos, coinciding with the World Economic Forum. This event brought together significant stakeholders, including representatives from the International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), Proparco, Swedfund, Norfund, and the Dutch Entrepreneurial Development Bank (FMO). The participation of these prestigious institutions serves as a robust vote of confidence in Ukraine's long-term economic growth prospects.

Lenna Koszarny, Founding Partner and CEO of Horizon Capital, emphasized the importance of this closing, stating that it represents a vital milestone for the firm as it celebrates 20 years in operation. With the launch of HCCF, the firm aims to contribute significantly to Ukraine’s recovery and economic growth, especially in labor and capital-intensive sectors which are crucial for national GDP and employment.

Sustainable Investments for Recovery

In its investment strategy, the Catalyst Fund plans to deploy between €20–50 million per transaction, while also creating co-financing opportunities for other investors. By focusing on catalytic equity, Horizon Capital aims to cultivate a robust pipeline of fundable projects, setting the stage for a $1 billion capital influx into the Ukrainian market, aimed at energizing key sectors.

Horizon Capital's history reflects a commitment to supporting visionary entrepreneurs in Ukraine and Moldova, backing over 190 companies that collectively employ more than 56,000 people. The Catalyst Fund aligns with this ethos, bridging financial gaps and enhancing Ukraine's economic resilience amidst trying times.

With a goal to not only meet immediate financial needs but to also foster long-term growth and sustainability in essential sectors, Horizon Capital is truly positioning itself at the heart of Ukraine's reconstruction efforts. As investors unite in this cause, the Catalyst Fund stands ready to chart a course toward recovery, empowered by significant financial backing and strategic partnerships.

Conclusion

As Horizon Capital progresses with its Catalyst Fund, the focus remains on driving impactful investments that will define Ukraine's path to recovery in the coming years. By mobilizing substantial resources to fuel growth in vital sectors, the firm exemplifies a commitment to restoring and advancing Ukraine's economic landscape, one investment at a time.