PROJECT

Projects

Summary of Investment Information

Project Number

51834

Company Name

Horizon Capital Catalyst Fund

Date SPI Disclosed

Dec 1, 2025

Country

Ukraine

Region

Europe

Projected Board Date

Jan 7, 2026

Environmental Category

FI-1 - Significant

Status

Active

Last Updated Date

Apr 16, 2026

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jan 7, 2026
Signed : Jan 20, 2026
Invested : Apr 13, 2026

Sector

Growth Equity Fund

Additional Project Attributes

Blended Finance

Project Description

 The proposed project consists of (i) an IFC equity investment of up to €50 million in Horizon Capital Catalyst Fund, SCSp (Horizon Catalyst or the Fund), and (ii) a co-investment envelope of up to €50 million, on a delegated authority basis. The Fund will target strategic domestic sectors that are critical to Ukraine’s reconstruction including digital infrastructure, energy, construction materials and select industrials. The Fund aims to play a catalytic role in Ukraine’s reconstruction by mobilizing up to €3 billion through partnerships with global strategic investors, international funds, and Ukrainian founders and operators. The Fund is expected to invest €20–50 million tickets, primarily in the form of growth equity, as well as quasi-equity as well as project finance, acquiring minority stakes in 8–10 mid-cap, asset-heavy domestic businesses in Ukraine and opportunistically in Moldova., where there is a strategic nexus with, and direct benefit to, Ukraine. The Fund will be domiciled in Luxembourg and has a target size of €300 million.

IFC’s investment in the Fund is expected to be supported by Blended Finance contributors under the Economic Resilience Action Program (ERA) for Ukraine, as described in the Blended Finance Section.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation