EIB-backed Horizon Capital’s new fund provides growth equity to three Ukraine-based companies

The European Investment Bank has committed €24.7 million from the EU for Ukraine (EU4U) Fund to the Horizon Capital Growth Fund IV, aimed at strengthening small and medium-sized enterprises in Ukraine and Moldova. The signing ceremony took place on 8 February, at the EIB Group Forum in Luxembourg.

This funding aims to support the growth and development of about 20 visionary tech and export-oriented companies in Ukraine and Moldova. The EIB says HCGF IV had already made investments in its first three innovative tech companies, focusing on expanding their research and development platforms in Ukraine and enhancing their international reach.

The investments include:

• Preply, which transforms language learning by connecting learners with tutors worldwide through its online platform.
• GoIT, which offers specialised IT education programmes to address the tech industry’s skill shortage.
• Viseven, which helps pharmaceutical companies accelerate their digital transformation.

EIB Vice-President Teresa Czerwińska, responsible for operations in Moldova and Ukraine, said the EIB’s investment in HCGF IV represents “significant, tangible support for Ukraine’s private sector. This is particularly crucial as IT becomes a vital export sector for Ukraine, bringing in much-needed foreign currency.”

HCGF IV is the first project under the EU4U Fund. The EU4U Fund is a part of the broader EU for Ukraine initiative, which aims to quickly address Ukraine’s urgent needs and bolster economic stability. The fund has so far gathered around €420 million in pledged contributions from the EU Member States.

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Press release