#Ukraine #Kyiv #Horizon Capital #Datagroup #Lifecell

Horizon Capital's Remarkable Achievement

On April 24, 2026, Horizon Capital, a prominent private equity firm specializing in Emerging Europe, was announced as the winner of the prestigious Real Deals Private Equity Award for the 2026 Central and Eastern European Deal of the Year. The award recognizes the firm's successful involvement in the acquisition of Datagroup, Volia, and Lifecell, collectively known as DVL Telecom. This marks a significant milestone in the firm’s history, being the second time they have received this esteemed recognition.

Horizon Capital manages assets totaling $1.8 billion and has been a significant player in the private equity landscape in Ukraine. The awards ceremony occurred in London, where Dmytro Boroday, a Partner at Horizon Capital, proudly accepted the accolade on behalf of the firm. This honor not only highlights Horizon Capital’s exceptional capabilities in navigating complex transactions but also underscores their impact on Ukraine's economic landscape.

The Real Deals Private Equity Awards are known for their rigorous evaluation process, with submissions reviewed by a panel of industry experts. The awards play a crucial role in acknowledging the efforts of fund managers and advisers who contribute significantly over a twelve-month period. Each year, approximately 1,000 influential figures from the sector gather to celebrate achievements within this challenging industry, setting quality benchmarks for future endeavors.

Lenna Koszarny, the Founding Partner and CEO of Horizon Capital, expressed gratitude, stating, "Winning the Real Deals award acknowledges everyone who contributed to the success of this instrumental deal. We celebrate the collaborative spirit of leadership from Datagroup, Volia, and Lifecell, including the visionary guidance of CEO Mykhaylo Shelemba and tech innovator Xavier Niel from NJJ Holding. Our team, clients, and partners have played critical roles in this journey."

The DVL Telecom acquisition is recognized as one of the largest M&A transactions in Ukraine in decades, reflecting confidence in the nation's resilience, especially amidst ongoing challenges. Horizon Capital, alongside NJJ Holding, has successfully transformed DVL Telecom, achieving remarkable financial growth: a 3.8x increase in revenue and 4.8x expansion in EBITDA over five years since taking operational control.

Moreover, the achievement illustrates Horizon Capital's innovative approach to structuring partnerships and financing. To enable NJJ's entry into the Ukrainian market, Horizon Capital leveraged their managed Horizon Capital Growth Fund II, L.P., reinvesting some exit proceeds into DVL Telecom. They also secured $435 million in debt financing from the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), supplemented by support from the European Commission's Ukraine Investment Framework.

This groundbreaking transaction corresponds to a significant $1.5 billion investment portfolio in Ukraine, combining acquisition costs and guaranteed capital expenditures. It stands as a testament to international investors’ faith in Ukraine's potential and sustainable future, even in the face of adversity.

Dmytro Boroday summed up the relevance of the award, emphasizing, "This accolade signifies more than a mere achievement in private equity. It's a testament to the largest completed deal in Ukraine during the last decade, anchored amid the backdrop of an ongoing war, which is unprecedented in modern history. We are honored to be in the company of extraordinary private equity firms like Invalda, MCI Capital, and MidEuropa, alongside whom we share this prestigious recognition."

As Horizon Capital continues to thrive, they aim to replicate this success through the newly launched Catalyst Fund, designed to attract additional investments to Ukraine's vital sectors, including energy, digital infrastructure, and construction. With over 50% of the fund already raised toward a target of €300 million, the firm looks to mobilize a total of €3 billion in capital to uplift Ukraine's economy and drive forward its development post-crisis. This initiative will further enhance their legacy of empowering entrepreneurs and supporting fast-growing businesses in a challenging environment, reaffirming their role in fostering resilience and innovation in the region.

In conclusion, the recognition by Real Deals commemorates Horizon Capital's unwavering commitment to excellence and innovation in private equity, inspiring further achievements as they navigate Ukraine's investment landscape.