Horizon Capital Launches €300m Catalyst Fund with First Wind Power Deal in Ukraine

New updates have been reported about Horizon Capital.

Horizon Capital has launched its reconstruction-focused Horizon Capital Catalyst Fund (HCCF) with an initial close of €152 million, just over 50% of its €300 million target, and immediately deployed capital into its first transaction: a 45% stake in a 124 MW wind power project in Ukraine’s Odesa region. The Kyiv-based private equity firm, which manages $1.8 billion and focuses on Emerging Europe, is positioning HCCF as a vehicle to channel €20–50 million growth equity tickets into asset-heavy strategic sectors that require substantial capital, primarily energy, digital infrastructure, and construction tied to Ukraine’s recovery. The Odesa wind project, developed by Germany-based Notus Energy, is considered one of Ukraine’s most advanced ready-to-build renewable assets and is expected to mobilize more than €220 million in total investment when combined with a structured debt package led by international development finance institutions including the EBRD, IFC, Swedfund, BIO, and Green for Growth Fund.

For Horizon Capital, the deal serves both as a proof-of-concept for HCCF’s strategy and as a signal to global investors that bankable, internationally structured projects in Ukraine can attract significant institutional capital despite the challenging operating environment. The project, the first of three Notus wind farms in Ukraine totaling about 300 MW and part of a 1.3 GW national renewables pipeline, is forecast to produce 378 GWh of power annually, enough for roughly 120,000 households, while avoiding around 244,000 tons of CO₂ emissions per year and generating more than 300 construction jobs and 50 permanent roles. Horizon Capital Partner and Catalyst Fund Lead Dmytro Boroday framed the investment as “catalytic equity” intended to crowd in further capital into critical infrastructure that underpins Ukraine’s long-term growth, while Notus Energy’s CEO highlighted that Horizon’s backing enables the company to move ahead with its Ukrainian build-out toward a 1.3 GW target by 2030. Implementation remains subject to definitive agreements and regulatory clearances, but if successfully completed, the transaction will strengthen Horizon Capital’s position as a central financial intermediary for Ukraine’s reconstruction and green energy transition, while supporting HCCF’s momentum toward its €300 million fundraising goal.