Horizon Capital, a U.S.-based private equity firm focused on “emerging Europe,” has announced the launch of a $250 million fund to back entrepreneurs in technology and export-oriented companies in Ukraine and Moldova.

As of first close, Horizon Capital Growth Fund IV, L.P. has raised $125 million of its $250 million target and is backed by the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and a subsidiary of KfW Group, the Dutch Entrepreneurial Development Bank (FMO), the Swiss Investment Fund for Emerging Markets (SIFEM), the Western NIS Enterprise Fund, and the Zero Gap Fund, an impact investing collaboration between the Rockefeller and John D. and Catherine T. MacArthur foundations.

“We are honored to make history by launching the first fund for Ukraine and Moldova since February 24th, and the first to back these countries since they achieved well-deserved and hard-won EU Candidate Status in June,” said Horizon Capital founding partner and CEO Lenna Koszarny. “We dedicate this fund to the people of Ukraine, who inspire the world with their bravery and tenacity in defending their homeland, thus ensuring a future where Ukraine assumes its rightful place among European nations. Ukraine needs partners who believe in the country, who stand shoulder-to-shoulder with its people, who are leading the way, and who leave no stone unturned to ensure that investment capital is available right now, not when hostilities end....We are confident that this historic fund will be a resounding success, delivering both returns and impact in the years ahead.”

(Photo credit: Getty Images/Joel Carillet)