U.S. Overseas Private Investment Corporation (OPIC) would provide up to $37.5 million of financing to Emerging Europe Growth Fund III, L.P. launched by Horizon Capital Advisors, LLC.
OPIC said that its board approved the provision of the funds for 10 years at a meeting on June 9.
According to the document, the fund with total capitalization of $150 million will invest in export-oriented, fast-growing, mid-size companies in Ukraine and Moldova with the potential to grow from local to regional market leaders. The fund will primarily target minority stakes in high growth Ukrainian companies. It may also invest in early-stage, buyout and privatization opportunities as they arise.
Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million capital).
The money of these funds is invested in projects in Ukraine, Moldova, and Belarus, Interfax reports.