#Ukraine #Kyiv #Horizon Capital #Datagroup #Volia

Horizon Capital Achieves Landmark Recognition

In a remarkable achievement, Horizon Capital, a prominent private investment firm in emerging Europe with assets under management totaling $1.8 billion, has been celebrated with the Real Deals Private Equity Award for the CEE Deal of the Year 2026. This accolade honors their iconic deal involving Datagroup, Volia, and Lifecell telecom. This win marks a significant milestone as the firm secures this prestigious title for the second time in its history, alongside partner Dmytro Boroday, at the awards ceremony held in London, UK.

The Real Deals Private Equity Awards have, over the past 25 years, established themselves as the most esteemed accolade in Europe’s private equity sphere. Each year, the event gathers over 1,000 influential figures within the industry to recognize managers and consultants who have made outstanding contributions over the preceding 12 months. Each submission is rigorously evaluated by a group of experts from leading companies in the sector, who reward merit, achievement, and the quality of applications.

Lenna Koszarny, founding partner and CEO of Horizon Capital, remarked, "The Real Deals award acknowledges everyone who played a role in the success of this transaction, including the leadership and teams from Datagroup-Volia-Lifecell. Our exceptional CEO, Mykhaylo Shelemba, telecom visionary Xavier Niel of NJJ, and the Horizon Capital deal team led by partner Dmytro Boroday, alongside the EBRD, IFC, and the European Commission—without whom this deal would not have been possible. We share this recognition with Ukraine as a testament to the strength, determination, and resilience of the nation and its people, whose vigor and entrepreneurial spirit yield world-class investment returns even in the toughest circumstances. The success of the DVL Telecom transaction inspires us to push forward and launch our new Catalyst Fund, aimed at reconstruction and replicating similar deals, securing billions for Ukraine with international strategies and global partnerships to accelerate investment in the nation’s reconstruction and revitalization across strategic sectors like energy, digital infrastructure, construction, and more."

The award acknowledges Horizon Capital’s leadership and innovation in structuring and executing the acquisition of Datagroup-Volia-Lifecell (DVL Telecom)—one of the largest M&A deals in Ukraine in the last decade. This accomplishment was achieved by a consortium led by NJJ Holding, founded by global telecom entrepreneur Xavier Niel, with Horizon Capital participating as a minority investor. Real Deals lauded Horizon Capital’s vision and execution in transforming Datagroup and its management team, which resulted in a revenue growth of 3.8 times and an EBITDA increase of 4.8 times over the five years since Horizon assumed operational control of the business. The award also highlights the firm's innovative partnership approach and capital structuring.

To expedite NJJ's entry into the Ukrainian market, Horizon Capital, managed by Horizon Capital Growth Fund II, L.P., reinvested part of the proceeds alongside NJJ in DVL Telecom, attracting $435 million in debt financing from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), supported by the European Commission’s Ukraine Investment Fund for the deal. This transaction signifies an investment in Ukraine totaling $1.5 billion, including the purchase price and committed capital expenditures, underscoring international investors’ confidence in Ukraine's resilience and secure future amid ongoing conflict.

Dmytro Boroday, partner and committee member of the Catalyst Fund, added, "This award recognizes not just another private equity exit, but something far more significant. It honors the largest deal executed in Ukraine over the past decade, conducted in the midst of a full-scale war and without real precedent in modern history. We take pride in being nominated in this category alongside great private equity houses like Invalda, MCI Capital, and MidEuropa, who have inspired us over the years and have shown remarkable performance in our region, and for potentially bringing this prestigious award back home to Kyiv."

Horizon Capital stands as a leader in private equity in emerging Europe, with over $1.8 billion in assets under management from investors with a capital base exceeding $700 billion. The firm's investment strategy focuses on supporting visionary entrepreneurs at the helm of fast-growing companies in Ukraine and Moldova. Funds managed by Horizon Capital have invested in over 200 companies, employing more than 56,000 people. The recently launched Catalyst Fund is targeting a goal of €300 million, with over 50% raised to date, aspiring to ultimately attract €3 billion in investment to Ukraine.