#Ukraine #Kyiv #Horizon Capital #Datagroup #Volia

Horizon Capital Celebrates 2026 CEE Deal of the Year Award

Horizon Capital, a prominent private equity firm focusing on Emerging Europe, proudly announced its victory at the 2026 Real Deals Private Equity Awards, where it was honored with the prestigious CEE Deal of the Year for its pivotal transaction involving Datagroup, Volia, and Lifecell. This landmark achievement, awarded for the second time in the firm's history, was celebrated during a gala event in London, attended by industry leaders, investors, and innovators.

With assets under management reaching $1.8 billion, Horizon Capital has emerged as a key player in the region, steering significant investments toward technology and communications sectors amid turbulent economic landscapes. The firm’s successful acquisition of DVL Telecom, which integrates Datagroup and Volia under Lifecell operations, has not only driven remarkable financial growth but also demonstrated the firm's innovative approach to private equity investments.

Recognition of Achievement in Adversity

The Real Deals Private Equity Awards, established over 25 years ago, are known for spotlighting excellence in the private equity sector across Europe. Each year, approximately 1,000 influential figures from the field gather to recognize the outstanding contributions of fund managers and advisers. Every entry submitted is meticulously reviewed by a panel of industry experts, ensuring that accolades are awarded based on merit.

Lenna Koszarny, the Founding Partner and CEO of Horizon Capital, expressed her gratitude, stating, "This award acknowledges all contributors to the success of this remarkable transaction. It is a testament to the combined efforts of our partners, including the leadership teams at Datagroup, Volia, and Lifecell, as well as the insightful guidance from telecom entrepreneur Xavier Niel."

Koszarny emphasized the broader significance of this achievement, reflecting on Ukraine's resilience. She highlighted how the determination of Ukrainian businesses and entrepreneurs fuels the capacity to deliver world-class investment outcomes, even amidst challenges as formidable as war.

Unprecedented Financial Growth

The deal, regarded as one of the largest mergers and acquisitions in Ukraine's history, has resulted in outstanding financial performance. Horizon's strategic leadership has propelled Datagroup’s revenue growth by 3.8 times and an extraordinary 4.8 times increase in EBITDA within a five-year period since the firm took operational control.

The award also underscores Horizon Capital's innovative capital structuring methods. Partnering with NJJ Holding, the consortium led by Xavier Niel, the firm managed to secure $435 million in debt financing from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). This funding was instrumental in solidifying the transaction and illustrates international investors' faith in Ukraine's resilience despite its ongoing conflict.

Vision for Future Investment

Furthermore, Dmytro Boroday, a Partner at Horizon Capital, commented on the deeper implications of winning this award. "This accolade represents more than just another private equity exit; it signifies the largest deal executed within Ukraine during a full-scale war—an achievement without precedent in modern history."

Boroday proudly acknowledged the collaborative spirit within the private equity community, crediting peers like Invalda, MCI Capital, and MidEuropa for their exemplary performance in the region. The firm aims to channel the momentum of this award to launch its new Catalyst Fund, focused on Ukraine's reconstruction and economic revitalization.

Looking Ahead

With an ambitious target of raising €300 million for the Catalyst Fund, Horizon intends to draw €3 billion in capital aimed at key sectors including energy, digital infrastructure, and construction. Through international collaboration, the fund will seek to replicate successful investment models demonstrated in the DVL Telecom transaction, further contributing to Ukraine's recovery and development.

As Horizon Capital continues to navigate the complexities of emerging markets, this award serves as a powerful reminder of the potential for growth and transformation even in the face of adversity. Acknowledging both the accomplishments of the past and the potential for the future, Horizon Capital is poised to make a significant impact on the investment landscape in Eastern Europe.