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From left to right – Konstantin Magaletskyi, Partner, Denis Tafintsev, Senior Partner, Lenna Koszarny, Founding Partner and Chief Executive Officer, Vasile Tofan, Partner.
Emerging Europe Growth Fund III (EEGF III), in which Proparco invested $12 million in 2018, focuses on high-growth and export-oriented companies primarily in IT, light manufacturing, food and agriculture. Having recently reached its hard cap at US$200 million, this fund is the largest fund to support fast-growing SMEs in Ukraine in a decade.

EEGF III is the third fund raised by the private equity firm Horizon Capital after EEGF I in 2006 and EEGF II in 2008. The new fund will almost exclusively be seeking opportunities in Ukraine, with openness for similar investments in neighboring Moldova. Since its first closing in 2017, the fund has already invested in six companies.

Through its investments, EEGF III will support employment in fast-growing sectors and will focus on small and mid-cap companies with growth capital needs, which tend to have the largest impact on job creation. Horizon Capital is also committed to supporting the companies it invests in. It indeed plays an active role in strengthening governance and transparency of investee companies by introducing strong corporate governance and transparency requirements to its portfolio companies, serving as an example of good corporate citizenship and corporate social responsibility. Through its hands-on involvement, operating efficiencies of the portfolio companies will be improved, thus promoting growth and sustainability.