Press release -
Swedfund invests to support critical sectors for Ukraine’s reconstruction
Swedfund invests EUR 20 million in Horizon Capital Catalyst Fund (HCCF), a new platform targeting critical sectors for Ukraine’s reconstruction, including renewable energy, industry and digital infrastructure. The investment reflects Swedfund’s continued commitment to strengthening the resilience and recovery of Ukraine’s private sector.
Swedfund has a particular mission to support Ukraine’s economic recovery through private‑sector investment. Previous investments have aimed to support the country’s IT and energy sectors.
“Ukraine’s reconstruction requires significant and long‑term investments in energy, infrastructure and industry. Through this investment, Swedfund can help restore production capacity, support economic recovery and strengthen private sector resilience. Horizon Capital has a long and strong track record in Ukraine. With Swedfund’s investment we jointly take an important step to support the country’s economic future,” says Marie Aglert, Chief Investment Officer at Swedfund.
HCCF is Horizon Capital’s fifth Ukraine‑focused fund and the first to concentrate on asset‑intensive industries that are essential to rebuilding the country’s productive capacity. The fund will invest in companies with a strategic role in restoring infrastructure, expanding industrial output and accelerating Ukraine’s transition towards renewable energy.
“The financing needs for Ukraine’s recovery are immense. Our investment directs capital to sectors that are central to the country’s reconstruction and mobilises additional international financing. It strengthens companies’ ability to operate, create jobs and contribute to economic stability, essential for Ukraine’s long‑term resilience,” says Olena Smyrnova, Director and Head of Ukraine, Swedfund.
Apart from investments, Swedfund also supports Ukraine’s public sector with feasibility studies and capacity building through its Project Accelerator, which currently has more than 40 projects across areas such as critical infrastructure, digitalisation, energy and public service delivery in Ukraine.
Swedfund’s investment is made alongside several European development finance institutions.
About the Horizon Capital Catalyst Fund
The Horizon Capital Catalyst Fund (HCCF) focuses on asset‑heavy sectors including renewable energy, industrial production, construction materials and digital infrastructure, targeting companies that are critical to Ukraine’s reconstruction. Horizon Capital is a leading private equity firm in the region with a long and proven track record of investing in Ukrainian businesses.
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About Swedfund
Swedfund is Sweden’s development finance institution with the mission to reduce poverty through sustainable investments in developing countries. Swedfund plays an important role in the implementation of the 2030 Agenda and the Paris Agreement on climate. Swedfund shares the same goal as development cooperation in general, but the tools Swedfund uses are different. Swedfund has two instruments to fulfil its mission: sustainable investments in the private sector and technical feasibility studies through the Project Accelerator targeting the public sector.
Swedfund's investments contribute to the creation of decent jobs and increased access to essential products and services such as electricity and food. Swedfund is a long-term investor and is additional and catalytic through its investments and by mobilising private capital. Swedfund's feasibility studies support sustainable public infrastructure development, trade, and export opportunities for Swedish solutions.
We are part of Swedish development cooperation, and we measure and report all our results. As a state-owned company, Swedfund is managed by the Ministry of Finance and financed through portfolio reflows and annual capital injections for which the Swedish Ministry for Foreign Affairs is responsible.
For more information: please visit www.swedfund.se/en
