Horizon Capital

Horizon Capital is a private equity firm based in Kyiv, Ukraine, with an additional office in Chicago, Illinois. Established in 2006, the firm focuses on investing in later-stage companies, primarily in small to mid-cap enterprises across sectors such as light manufacturing, information technology, financial services, consumer goods, and e-commerce. Horizon Capital targets industry leaders in fast-growing sectors and companies with consolidation potential, while also identifying opportunities in more mature industries for buyouts. The firm typically invests between $5 million and $20 million, acquiring control stakes or minority interests in its portfolio companies. With a strong emphasis on governance and value creation, Horizon Capital aims to liquidate its investments within three to five years through trade sales or public offerings. Backed by over 40 institutional investors, the firm manages assets exceeding $1.1 billion and focuses on export-oriented businesses in Ukraine and the surrounding regions.

Dima (Dmytro) Boroday

Partner

Bogdan Svyrydov

Investment Director

Denis Tafintsev

Senior Partner and Member of Investment Committee

Vasile Tofan

Partner

Past deals in Eastern Europe

GoIT

Private Equity Round in 2023
GoIT is an international EdTech company that focuses on improving IT education for over seven years. The company operates in more than 30 countries online and has branches in Ukraine, Poland, Turkey, Mexico, and the USA. With a mission to help individuals create their success stories, GoIT has guided thousands of graduates to secure jobs and earned several industry awards.

Miratech

Private Equity Round in 2022
Miratech is an IT services and outsourcing company that provides managed IT services to large and midsize multinational organizations. Founded in 1989, Miratech has its headquarters in Stockholm and Washington, DC; and R&D centers in Poland, Slovakia, and Ukraine. Miratech serves its customers internationally, covering 560 locations. Miratech has been ranked highly in major industrial ratings, including the Global Services 100; the Software 500®; the NOA’s Outsourcing Professional Award; The Global Outsourcing 100® and Best Five Companies in Eastern Europe, by IAOP®. Miratech is ISO 9001, CMM Level 3, and ISO 27001 certified.

Dobrobut

Private Equity Round in 2019
Dobrobut is a network of clinics and medical institutions in Kyiv and Kyiv region, offering essential services to patients in Ukraine. The company owns a wide network of clinics and hospitals, staffed by strong professionals and equipped with modern medical equipment, providing quality care to their patients. The company continuously invests in digitalization of business processes, including mobile platform that allows patients to plan and pay for their visits online.

Ajax Systems

Series A in 2019
Ajax Systems manufactures smart security systems and sensors for homes. It offers wireless window and door opening sensors and movement sensors. The company was founded in 2011 and is based in Kyiv, Ukraine.

Yarych Confectionery

Private Equity Round in 2018
Yarych Confectionery LLC, established in 1986 and based in Lviv, Ukraine, specializes in the production of semi-sweet biscuits and crackers. The company offers a variety of products, including its branded Maria biscuits, petit beurre, and several flavors of packaged long cookies and crackers. As of October 2018, Yarych Confectionery operates as a subsidiary of Dilbeta Investments Limited and Sermola Holdings Limited, focusing on delivering quality baked goods to the retail market.

Intellias

Private Equity Round in 2018
Intellias Ltd. is a custom software engineering company established in 2002, headquartered in Lviv, Ukraine, with additional offices in Kyiv, Odesa, and Berlin. The company specializes in providing tailored services primarily for the automotive, location-based services, and financial technology sectors. Its offerings include Automotive R&D, FinTech solutions, SaaS and platform development, data science, IoT and embedded systems, UX/UI design, mobile app development, and DevOps and cloud services. Intellias serves as a technology partner for various organizations, aiding them in accelerating their digital transformation through innovative product development and leveraging emerging technologies to enhance operational efficiency and product capabilities.

Moldova Agroindbank

Private Equity Round in 2018
Moldova Agroindbank is a commercial bank based in Chişinău, Moldova, established in 1991. It offers a wide range of financial services tailored for both individuals and legal entities. The bank provides various products including mortgage loans, consumer credit, term deposits, current accounts, and payment cards. Additionally, it offers capital market investment products, letters of credit, bank guarantees, and documentary collections. Moldova Agroindbank also provides leasing options, multi-optional loans, credit cards, overdraft facilities, and microcredit loans, as well as financing solutions for personal expenses and working capital. Through its diverse offerings, the bank aims to meet the needs of its varied customer base.

Anex

Private Equity Round in 2016
In only 9 years of the company’s existence we have managed to achieve great success, to receive several international awards and to expand sales to 42 countries around the world. Today, we are one of the leaders on the juvenile products market of Eastern Europe and CIS. Every day we work on the improvement and development of our products. We are glad to provide comfort and reliability for parents, as well as happiness and safety for children. Rapidly progressing and continuously pursuing new horizons for ourselves, we are interested in collaborative projects with companies whose values are similar to ours. We constantly promote our brand internationally, investing great resources in diverse and effective advertisements that will contribute to the promotion of your business as well. Every year we participate in international baby products trade fairs that give us the opportunity to expand our markets and to find new partners.

DataGroup

Acquisition in 2016
Datagroup is a leading company in the telecommunications market. Customers of the company receive exactly the services that are needed for the active, dynamic development of their business. The history of the company began in 2000, since the development of Datagroup has become a serious player in the market of telecommunication technologies. The company is the leader in the VSAT satellite communication segment in Ukraine (85%) and the CIS. According to the results of 2012, Datagroup owns 40% of the total revenue in the telecommunications market for corporate clients. In the inter-operator segment of the market, the company occupies 25% of the market in the revenue structure. The company has set up a national network throughout Ukraine with a special rate on the regions and has become one of the leaders in the geography of the provided communication services.

Jooble

Private Equity Round in 2014
Jooble is a global IT company that operates an international job search platform, serving millions of users across 67 countries. Founded in 2006, it aggregates thousands of job openings from various sources, making it one of the top ten employment resources by traffic in the Jobs and Employment segment. Jooble's mission is to streamline the employment process for both job seekers and employers, ensuring a comfortable and efficient experience. The company has evolved from a startup founded by two students into a significant player in the online recruitment market. With a remote-first culture, Jooble employs over 280 professionals who communicate in 25 different languages. Additionally, Jooble Venture Lab, launched in 2022 and based in Kyiv, Ukraine, focuses on building startups within the employment tech ecosystem and forming strategic partnerships with early-stage companies in the jobs and recruitment sectors.

Ciklum

Venture Round in 2012
Ciklum is a Danish IT outsourcing company founded in 2002, specializing in nearshore software development primarily in Eastern Europe, including Ukraine and Belarus. The company offers a range of services such as software development, quality assurance, IoT, big data analytics, and engineering consulting. Ciklum's business model combines technical expertise with a focus on client collaboration, allowing companies to enhance their IT processes and sustain growth through scalable resources. With a workforce of over 1,700 IT specialists, Ciklum supports more than 150 global clients and provides both project-based services and short-term resource solutions for specific tasks. The company operates six development offices in Ukraine, one in Belarus, and two in Pakistan, with additional representative offices across several European countries. Ciklum has received multiple accolades for its innovation and service quality, including recognition as a top IT employer in Ukraine and awards for its contributions to technology in the EMEA region.

Fortis Life Insurance Ukraine

Acquisition in 2010
Fortis Life Insurance Ukraine provides life insurance services. Fortis Life Insurance Ukraine insurance products, which include life insurance products for children's education, weddings, and retirements.

DataGroup

Private Equity Round in 2010
Datagroup is a leading company in the telecommunications market. Customers of the company receive exactly the services that are needed for the active, dynamic development of their business. The history of the company began in 2000, since the development of Datagroup has become a serious player in the market of telecommunication technologies. The company is the leader in the VSAT satellite communication segment in Ukraine (85%) and the CIS. According to the results of 2012, Datagroup owns 40% of the total revenue in the telecommunications market for corporate clients. In the inter-operator segment of the market, the company occupies 25% of the market in the revenue structure. The company has set up a national network throughout Ukraine with a special rate on the regions and has become one of the leaders in the geography of the provided communication services.

Bostavan

Acquisition in 2010
Bostavan engages in the production and sale of wine and spirits. Bostavan is state-of-the-art outfit and runs more the 800 hectares of young vineyards. Moreover, Bostavan Wineries Group owns one of the most famous Moldovan wine brands Rosu de Purcari and Negru de Purcari.

Evrotek

Venture Round in 2008
Evrotek is a holding company that manages a food retail chain in Ukraine operating under the brand name Fresh. The company runs a network of supermarkets, mini-markets, and home-based stores, offering a diverse selection of products that includes food and non-food items, as well as its own produced goods. In addition to these products, Evrotek provides a variety of additional services to enhance the shopping experience for its customers.

FinComBank

Private Equity Round in 2007
FinComBank S.A. is a prominent financial institution in the Republic of Moldova, offering a comprehensive range of commercial and retail banking services to private and corporate clients. Established in 1993 and headquartered in Chisinau, the bank provides various deposit products such as current accounts, savings deposits, and term deposits. Its lending portfolio includes consumer loans, business loans, mortgages, car leasing, revolving credit, and bank guarantees. Additionally, FinComBank issues and services debit and credit cards, facilitates the encashment of travel cheques, and processes utility payments through multiple channels, including ATMs and online platforms. The bank also offers foreign trade services, currency exchange, money transfer services, and investment opportunities in state securities, alongside auto and property insurance products. With a network of 17 branches and 82 representative offices, FinComBank caters to a diverse clientele, ranging from private individuals to small and medium-sized enterprises and large corporations.

MTBank

Private Equity Round in 2007
MTBank provides various banking services. MTBank is a member of the Association of Belarusian Banks, the Community of Worldwide Interbank Financial Communications (SWIFT), international payment systems VISA International and MasterCard.
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