Horizon Capital has received a $30m commitment towards its new Emerging Europe fund from the Western NIS Enterprise Fund (WNISEF).
Horizon is seeking $150m for its new Emerging Europe Growth Fund III, which aims to invest in companies in emerging Europe with strong links into the rest of Europe and beyond. Horizon spun out of the WNISEF in 2006.
WNISEF is a $150 million regional fund that focuses on companies in the Ukraine and Moldova. It is funded by the US government via the US Agency for International Development. The fund has been in operation for 23 years.
“We are delighted to invest through EEGF III in fast-growing, export-oriented companies with roots in Ukraine and Moldova, while generating revenues globally,” Jaroslawa Johnson, WNISEF president and chief executive, said in a statement. “Ukraine is in the midst of an economic revival led by the efforts of innovative young men and women, who are competing internationally, entering new markets, championing best business practices and inspiring others to follow their path.”