German development fund backs Ukrainian SMBs

Last month, DEG, the German Investment and Development Corporation, announced that it will provide a total of $10 million to the Emerging Europe Growth Fund III (EEGF III) to support Ukrainian SMBs.

The EEGF III fund – whose target size in $150 million – invests into export-oriented industries, in particular in the fields information technology, light manufacturing and food.

Focus is also made on e-commerce, healthcare and other sectors that are geared towards the domestic market.

Among the first investments already made by the EEGF III are a light manufacturing company and an IT product company, both of which are noted for their social involvement.

The fund’s anchor investors include the Western NIS Enterprise Fund (WNISEF), a regional private equity fund backed by USAID to invest in Ukraine and Moldova, the International Finance Corporation (IFC, a member of the World Bank Group), the European Bank for Reconstruction and Development (EBRD) and the Dutch development finance institution FMO.

The fund is managed by Horizon Capital, a fund manager with offices in Kyiv (Kiev), Ukraine and Chicago which originates and manages investments in mid-cap companies

Topics: Finance, International, News, Venture/Private equity
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