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The Ukrainian Business Support Fund by Horizon Capital has attracted $20 million from Japan

21 Feb, 2024
The Ukrainian Business Support Fund by Horizon Capital has attracted $20 million from Japan

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The American-Ukrainian investment company Horizon Capital has secured $20 million from the Japan International Cooperation Agency (JICA) as part of the Horizon Capital Growth Fund IV (HCGF IV). This marks the first investment from Japan, with the funds aimed at supporting and developing Ukrainian businesses.

The relevant agreement was signed on February 19, 2024, during the Japanese-Ukrainian conference to promote economic reconstruction, held at the JICA office in Tokyo. Horizon Capital will primarily allocate these funds to finance growing Ukrainian companies in the technology and export sectors, which have demonstrated resilience since the onset of full-scale invasion. This was stated in the company's press release.

HCGF IV is the largest of the funds raised in recent years, which has confirmed its readiness to invest in Ukraine's economy even amidst war to maximize our state's resilience. Its activities are aimed at supporting the growth of local companies, creating jobs, expanding the tax base, and improving access to capital for small and medium-sized enterprises.

Olena Koshearna, Founder and CEO of Horizon Capital, noted that the agreement with JICA underscores recognition of the resilience of the technological and export-oriented sectors in Ukraine, as well as trust in local entrepreneurs.

Mikio Hataeda, Senior Vice President of JICA, said:

“We are pleased to announce our commitment to Horizon Capital Growth Fund IV, to support the transformative potential of Ukraine and Moldova’s tech and export-oriented sectors. This investment aligns with JICA’s mission to finance sustainable development and economic resilience in emerging markets, but also illustrates our staunch support for Ukraine in face of the brutal war led by Russia. We are confident that our partnership with Horizon Capital will contribute to the growth of innovative enterprises in the region, fostering job creation and advancing gender equality in line with the 2X Challenge standards.”



Horizon Capital is the leading private equity firm in Emerging Europe with $1.6 billion in assets from investors with a capital base of circa $700 billion, raising over $800 million in growth capital in just over six years. The firm’s investment strategy focuses on backing visionary entrepreneurs leading fast-growing, primarily tech and export-oriented businesses in Ukraine and Moldova. Its funds managed have backed over 170 companies employing around 80,000 people to date.

The Japan International Cooperation Agency (JICA) is an incorporated administrative agency in charge of administering Japan’s Official Development Assistance (ODA), is one of the world’s largest bilateral aid agencies supporting socioeconomic development in developing countries in different regions of the world. It supports developing countries in addressing their development challenges through flexible combination of various cooperation modalities, such as Technical Cooperation, Finance and Investment Cooperation, and Grants. JICA has 96 overseas offices and operates in approximately 140 countries and regions of the world.

The Odessa Journal

The Odessa Journal

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