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The Japan International Cooperation Agency (JICA), the entity that handles development funds for the Japanese government, has decided to invest $20 million in HCGF IV, the latest fund of Ukraine-focused private equity firm Horizon Capital.
The investment, announced in Tokyo at the Japan-Ukraine Economic Reconstruction Promotion Conference, will be used mainly to "catalyze financing to fast growing, asset light, exporting technology companies," in Ukraine, said Horizon, a US-based firm with $1.6 billion in assets under management.
"This investment aligns with JICA’s mission to finance sustainable development and economic resilience in emerging markets, but also illustrates our staunch support for Ukraine in face of the brutal war led by Russia," said JICA Senior Vice President Mikio Hataeda.
JICA, which closed its office in Ukraine two years ago when Russia invaded but re-opened it in November of last year, says it's one of the world’s largest bilateral aid agencies supporting socioeconomic development in developing countries.
