Horizon Capital, a leading private equity firm in Central and Eastern Europe, has conducted the first interim closing of its new fund focused on Ukraine’s reconstruction, the Horizon Capital Catalyst Fund. In a record six months, more than 50% of the fund’s target size of €300 million has been raised.
Horizon Capital, a leading private equity firm in Central and Eastern Europe, has conducted the first interim closing of its new fund focused on Ukraine’s reconstruction, the Horizon Capital Catalyst Fund. In a record six months, more than 50% of the fund’s target size of €300 million has been raised.
Horizon Capital Catalyst Fund (“HCCF”, “Catalyst Fund”) was created to reduce the private capital deficit in Ukraine in strategically important sectors of the economy - in particular, energy, digital infrastructure and construction - and will focus on minority investments in partnership with leading investors.
The company plans to raise about 3 billion euros for Ukraine. They will provide seed money to projects operating in the domestic market and having real production or equipment. It is expected that each invested euro will attract another ten from other investors.
The first stage of the Catalyst Fund closing took place on January 20, 2026 at the Ukraine House in Davos as part of the World Economic Forum.
In the first phase, the Fund was supported by leading institutional investors, including the International Finance Corporation (“IFC”), the European Bank for Reconstruction and Development (“EBRD”), the French Society for the Promotion and Participation in Economic Cooperation (Proparco), the Swedish Development Fund (Swedfund), the Norwegian Investment Fund for Developing Countries (“Norfund”), and the Netherlands Enterprise Development Bank (“FMO”).
"By supporting the fund's first closing and investing in Ukraine's capital-intensive sectors today, rather than after the war, these reputable investors are sending a strong signal of confidence in Ukraine's long-term growth and economic prospects. Their participation in the Catalyst Fund will enable Horizon Capital to quickly move forward with a portfolio of over 30 potential deals, the first four of which, worth €110 million, are expected to leverage over €1 billion in additional capital into the Ukrainian economy," Horizon Capital said.
Catalyst Fund is the second fund with a focus on Ukraine that Horizon Capital has launched since the full-scale invasion.
According to Dmitry Boroday, partner at Horizon Capital and lead partner of Catalyst Fund, the average investment volume of the fund will be from 20 to 50 million euros within a single deal.
