Horizon Capital, a US-registered, Kyiv (Kiev)-based fund manager, announced an investment in Ukrainian perfume and cosmetics online retailer Makeup.
Launched in 2009 году, Makeup is now one of the leading online retailers in its field. Its site features more than 200,000 items from more than 2,000 suppliers. It has activities in a dozen of European countries beyond Ukraine, including Austria, France, Germany, Hungary and Italy.
The amount of the deal was not disclosed, but Ukrainian tech blog AIN.UA learned that Horizon invested $8 million in exchange for a 18% stake in Makeup’s Cypriot mother company. The deal valued Makeup at $43.5 million, according to AIN.UA’s information.
Among the company’s other shareholders are Makeup’s co-founders Yevgeny Malev (48% stake) and Sergey Volobuyev (32%) as well as Igor Mazepa, a prominent Ukrainian banker (2%).