US-Ukraine Reconstruction Investment Fund to make 3 profit-focused investments in 2026

The U.S.-Ukraine Reconstruction Investment Fund is fully operational, and plans to make its first three investments this year, Ukrainian Economy Minister Oleksii Sobolev said.

"The whole structure has been set up already to be able to do the investments and they plan to have three investments this year – they should be profitable to people and to the fund," Sobolev told a panel at Ukraine House Davos on Jan 20.

"The fund invests in Ukraine. It's not buying out properties. It does not receive licenses for minerals," he added. "The fund has a mandate and investment strategy there – it's in critical minerals, in energy in infrastructure and in some of the IT solutions that support critical infrastructure."

Conor Coleman, head of investments at the U.S. International Development Finance Corporation (DFC) and a member of the fund's board of directors, said the fund will consider three main types of investments.

1 - Greenfield projects

2 - "Brownfield, kind of M&A expansion"

3 - Growth and venture projects

Speaking to the panel from Washington DC, Coleman said the fund will hold its first prospecting committee meeting in late January or early February and it's initial investment committee meeting in the next couple of months.

He said has already met with the advisers for the fund, Alvarez & Marsal, for their first pipeline discussion.

So those are the three kind of key areas, at least initially, we are going to focus on with, obviously, the fund being very flexible, and it’s what we...

Tue, Jan 20, 2026 2:36 PM; Duration: 0:49

So those are the three kind of key areas, at least initially, we are going to focus on with, obviously, the fund being very flexible, and it's what we...

(Clip of Conor Coleman above. For the full audio and a machine-generated transcript of the panel, click here.)

Event Metadata

Panel: Partners in Prosperity: Ushering in a New Era of U.S.-Ukraine Economic Partnership
Time: 15:30–17:00, Jan 20
Format: Panel discussion (90 minutes)
Location: Ukraine House Davos

Moderator:

• Andy Hunder – President, American Chamber of Commerce in Ukraine

Speakers:

• Oleksii Sobolev – Minister of Economy, Environment and Agriculture of Ukraine
• Conor Coleman – Head of Investments, U.S. International Development Finance Corporation (online)
• Sergii Koretskyi – Chairman of the Board and CEO, Naftogaz of Ukraine
• Geoffrey Pyatt – Senior Managing Director, Energy and Critical Minerals Practice, McLarty Associates
• Dennis A. Johnson – Chairman of the Board, Ukraine-Moldova American Enterprise Fund
• Lenna Koszarny – Founding Partner and CEO, Horizon Capital
• Ernesto Torres Cantú – Head of International, Citi