OPIC Bоard of Directors Approves up to $37.5 Million in Financing to Horizon Capital’s Emerging Europe Growth Fund III, LP
The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, approved support for eight new development projects totaling nearly $1.2 billion in OPIC financing. These private sector-led development projects will invest in Sub-Saharan Africa, Ukraine, the Middle East, and South America, in a variety of sectors to include healthcare, financial services, clean energy and infrastructure.
“With more than $1.2 billion dollars approved to projects spanning across four continents, these are great examples of the types of projects and investment that OPIC can catalyze,” said Elizabeth Littlefield, OPIC President and CEO. “By providing underserved populations with energy access, health services, and the financial tools needed to create and expand their businesses, these projects will make a large impact in much-needed areas around the globe.”
The board of directors’ approvals for OPIC support includes up to $37.5 million in financing to Emerging Europe Growth Fund III L.P., a private equity fund launched by Horizon Capital Advisors, LLC. This fund seeks to invest in fast-growing, mid-sized, export-oriented companies in Ukraine and Moldova with the potential to grow from local to regional market leaders.
About Horizon Capital
Horizon Capital (www.horizoncapital.com.ua) is the leading private equity firm in Ukraine, managing three private equity funds with a track-record of selecting and building global or local-focused market leaders that demonstrate rapid growth in robust economic circumstances and the ability to weather economic downdrafts successfully. Currently, Horizon Capital manages three funds, Emerging Europe Growth Fund II (EEGF II), Emerging Europe Growth Fund (EEGF) and Western NIS Enterprise Fund (WNISEF), with over $600 million under management.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help address critical development challenges and in doing so, advances U.S. foreign policy and national security priorities. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, political risk insurance, and support for private equity investment funds, when commercial funding cannot be obtained elsewhere. Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers.
All OPIC projects adhere to high environmental and social standards and respect human rights, including worker’s rights. By mandating high standards, OPIC aims to raise the industry and regional standards of the countries where it funds projects. OPIC services are available for new and expanding business enterprises in more than 160 countries worldwide.