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26 Sep 2022

Stephenson Harwood advises Horizon Capital on launch of Ukraine-focused tech fund


President Zelenskyy attends closing ceremony

Law firm Stephenson Harwood LLP has advised Horizon Capital on the launch of its Ukraine-focused Horizon Capital Growth Fund IV, which raised US$125 million at first close - 50% of its US$250 million target.

The fund's first closing, which is a record high for Horizon Capital, was held in person this morning. President of Ukraine Volodymyr Zelenskyy virtually attended, and gave a welcome address, at the fund's signing ceremony, which took place in London. The Fund is backed by the European Bank for Reconstruction and Development; the International Finance Corporation; Deutsche Investitions- und Entwicklungsgesellschaft and a subsidiary of KfW Group; the Dutch Entrepreneurial Development Bank; the Swiss Investment Fund for Emerging Markets; the Western NIS Enterprise Fund; and the Zero Gap Fund, an impact investing collaboration between The Rockefeller Foundation and the John D. and Catherine T. MacArthur Foundation.

“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," said Lenna Koszarny, Horizon Capital’s Founding Partner and CEO.

"We are proud to have partnered with Horizon Capital on the successful launch of this historic fund," said Sarah de Ste Croix, partner, Stephenson Harwood. "Lenna and the Horizon team are, and have always been, an inspirational client, and today's record breaking first closing is yet another example of their tenacity of purpose and belief in the potential of the region and its people."

The Stephenson Harwood team was led by partner Sarah de Ste Croix, who was supported by associates Arooj Khan and Joel Bowtell.

This press release is provided for information purposes only. Horizon Capital is not hereby providing investment advice or providing any person with any right to rely on the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy limited partnership interests in Horizon Capital Growth Fund IV LP (the “Interests”) or any other security in any jurisdiction and shall not, in any circumstance, constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. There is no public offering of the Interests. The Interests are being offered by means of a private placement to suitable investors.