PROJECT

Projects

Summary of Investment Information

Project Number

46263

Company Name

Horizon Capital Growth Fund IV, L.P.

Date SPI Disclosed

Jun 24, 2022

Country

Ukraine

Region

Europe

Projected Board Date

Aug 15, 2022

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 10, 2023

Department

Disruptive Technologies and Funds

Industry

Funds

Previous Events

Approved : Sep 21, 2022
Signed : Sep 26, 2022
Invested : Jun 8, 2023

Sector

Growth Equity Fund

Project Description

    The proposed project consists of an IFC equity commitment of up to $30 million in Horizon Capital Growth Fund IV, (HCGF IV or the Fund) a private equity (PE) fund with a target size of $250 million. The Fund will invest primarily in fast-growing technology and export-oriented mid-cap companies, primarily active in Ukraine and Moldova, benefiting from cost competitive local platforms with global reach. The Fund will make investments of $10-30 million to acquire minority stakes in 10-15 mid-cap companies with enterprise values of $50-150 million. HCGF IV is the successor fund to Emerging Emerging Europe Growth Fund III (2017 vintage) and will follow a similar investment strategy focusing on IT services and products, as well as e-commerce, innovative consumer goods, and fintech.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation