The EBRD’s Board of Directors intends to decide on a €30M commitment to the new Horizon Capital Catalyst Fund SCSP on December 17. The fund will invest in mid-cap companies with substantial assets and/or projects in Ukraine, ranging from €20M to €50M. Its focus will be on the energy, digital infrastructure, construction services, and construction materials sectors, aiming for long-term capital growth.
Horizon Capital, a leading private equity fund manager in Ukraine, announced in June of this year the start of fundraising for the €300M Catalyst Fund. “Its goal is to unite investors who support Ukraine now, not after the end of the war, to raise at least €300M to mobilize €3.5B in assets focused on the domestic market and projects across various investment themes”, the fund’s presentation stated.
The fund’s first closing was scheduled for the fourth quarter of 2025. At the time of the launch announcement, more than 30 potential deals were already under consideration, with capital needs exceeding €2B. Additionally, the EBRD has previously invested significant amounts in Horizon Capital funds, with its latest contribution to the HCGF IV fund being €40M.
