Horizon Capital Marks Initial Closing of Catalyst Fund with Significant Investment for Ukraine's Reconstruction

Horizon Capital's Catalyst Fund: A New Era for Ukraine's Reconstruction

In a significant move towards rebuilding Ukraine, Horizon Capital, a prominent private equity firm based in Kyiv, has successfully held the initial closing of its Catalyst Fund, aimed specifically at addressing the country’s urgent reconstruction needs. The fund reached an impressive milestone of raising over €150 million within just six months, marking the initial phase of its ambitious target to mobilize a total of €300 million.

Launched at the Ukraine Recovery Conference in Rome, the Catalyst Fund is designed to provide vital capital for key sectors in Ukraine such as energy, digital infrastructure, and construction—areas that are essential for the nation’s economic revival. Horizon Capital’s overall objective is to eventually mobilize €3 billion for the country, a strategy that is expected to have a multiplier effect of ten times the initial investment.

This initial closing, which took place at the Ukraine House during the World Economic Forum in Davos on January 20, 2026, was attended by notable representatives including Oleksii Sobolev, Ukraine's Minister of Environment and Agriculture. The event was also supported by various reputable institutions such as the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and several others. Their involvement sends a strong message of confidence in Ukraine’s long-term economic growth potential, highlighting the trust these institutions place in Horizon Capital’s strategic vision and investment capabilities.

The Catalyst Fund emerges as Horizon Capital celebrates its 20th anniversary, marking it as the second fund dedicated to Ukraine since the onset of the invasion. This initiative reflects not just the firm’s commitment to Ukrainian growth but also represents a broader effort to channel substantial investments into sectors that significantly contribute to the country’s GDP and employment—over 10% of the annual GDP and employing more than 650,000 individuals.

Lenna Koszarny, the founding partner and CEO of Horizon Capital, highlighted the importance of this new fund, stating, "The launch of the Catalyst Fund is a pivotal moment for Horizon Capital, allowing us to allocate much-needed equity into high-impact sectors, especially at a time when equity remains scarce. Our goal is to use this fund as a vehicle for significant job creation and economic prosperity."

With the initial investment now underway, Horizon Capital aims to develop approximately 30 transactions, the first of which, amounting to €110 million, is anticipated to attract over €1 billion in capital for Ukraine. Each deal is expected to involve investments ranging from €20 million to €50 million, positioning Horizon Capital as a key player in mobilizing resources into the country amidst its ongoing recovery challenges.

Furthermore, Dmytro Boroday, a partner at Horizon Capital and leading figure of the Catalyst Fund, emphasized that the fund is structured for partnerships. The intention is to work alongside global investors to facilitate their entry into the Ukrainian market while collaborating with top-tier local entrepreneurs and management teams. This approach aims to establish scalable international businesses within Ukraine’s strategic economic sectors, with Horizon Capital providing indispensable support throughout the investment and growth phases.

Ultimately, the Catalyst Fund represents a critical step forward for both Horizon Capital and the Ukrainian economy at large. As the country navigates its path to recovery, the fund will not only provide essential capital but also strengthen international trust in Ukraine’s revitalization efforts. Horizon Capital, with its history of supporting innovative entrepreneurs and high-growth businesses, is poised to contribute significantly to the reconstruction and resurgence of Ukraine’s economy, thereby fostering a brighter future for its citizens and the region.

The Catalyst Fund stands as a testament to the international community's commitment to Ukraine's recovery, and Horizon Capital is set to play a vital role in this transformative phase, reinforcing the foundation for sustainable growth and prosperity in the years to come.