WNISEF has raised a follow-on private equity fund of $130 million
Washington, DC -- The Board of Directors of the Western NIS Enterprise Fund (WNISEF) met in Washington, DC on October 30, 2007. While in Washington the top management of WNISEF, along with the board, provided financial highlights from the past year at an informal luncheon briefing attending by officials of the U.S. government, Ukraine Embassy, think-tanks. businesses and other organizations interested in Ukraine.
Natalie Jaresko, President and Chief Executive Officer said, "In 1995 when Ukraine and Moldova were in the early years of their transition to a market economy, WNISEF set upon a path to help these economies build a strong private sector. A great deal has changed in the region since that time.
"A substantial M&A market has developed in Ukraine; foreign direct investment and fixed capital investment overall are rising dramatically. The banking sector of both Ukraine and Moldova is growing rapidly along with consumer disposable income.
"This year we opened a new chapter in our effort to fulfill our mission. We succeeded in raising a follow-on private equity fund of $132 million in less than a year based on the team's experience and expertise, as well as the region's promise."
Mark Iwashko, Executive Vice President and Chief Investments Officer stated, "WNISEF has completed its twelfth full year of operations in the region with over $130 million invested in 31 companies in Ukraine and Moldova since inception and a second, private $132 million fund almost fully invested.
Our track record is proof to the marketplace that profitable investments can be undertaken in this region and, as a result, create the human, technological and investment capital needed to sustain these market economies."
WNISEF was established by the United States Congress and funded by the U.S. government via U.S. Agency for International Development (USAID).
WNISEF is managed by Horizon Capital, a private equity fund manager that originates and manages investments in mid-cap companies with outstanding growth and profit potential in Ukraine and Moldova.
Horizon Capital team currently manages two funds, Emerging Europe Growth Fund, LP (EEGF) and Western NIS Enterprise Fund (WNISEF).
U.S.-Ukraine Business Council (USUBC)/ACTION UKRAINE REPORT
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