Horizon Capital

Horizon Capital is a leading private equity firm in Emerging Europe, managing seven funds with over $1.8 billion in assets under management. The firm focuses on providing growth capital to fast-growing, export-oriented companies that leverage the cost-competitive advantages of Central and Eastern Europe to generate global revenues. Their investment strategy primarily targets technology and export-oriented businesses, as well as select domestic champions in Ukraine and Moldova. Horizon Capital is known for its strong team, high integrity, and a proven track record of successful investments and value creation.

The firm was founded in 2006 as a spin-out of the investment management team of UMAEF, a fund established in 1994 with a focus on Ukraine and Moldova. Horizon Capital is led by its two Founding Partners, Lenna Koszarny, CEO, who has over 30 years of experience based in Ukraine, and Jeffrey C. Neal, Chairman of the Investment Committee, with 30 years at Merrill Lynch. Since its inception, Horizon Capital has launched several funds, including the Emerging Europe Growth Fund series (EEGF I, EEGF II, EEGF III) and the Horizon Capital Growth Fund IV (HCGF IV). In response to the critical needs of the region, the firm also launched the Ukraine Reconstruction-focused Horizon Capital Catalyst Fund (HCCF) in January 2026, aiming to address equity capital shortages in essential sectors like energy, digital infrastructure, and construction.

Horizon Capital's diverse portfolio includes notable companies across various sectors. In technology and digital, they have backed firms like HOLYWATER TECH (AI-first technology), Viseven (digital marketing for pharma and life sciences), Preply (online language learning marketplace), GoIT (edtech), Miratech (IT services), Creatio (no-code platform for workflows and CRM), and Genesis (a top global IT company). Their investments also extend to e-commerce champions like Rozetka-Evo and Makeup, smart security systems manufacturer Ajax, and the leading dollar store player Aurora. The firm's commitment to responsible investment is highlighted by HCGF IV being awarded 2X Flagship Fund status, a prestigious designation for funds promoting gender-smart investing.

The firm boasts a strong team of investment professionals with extensive experience and education from top US and European business schools. The leadership team, including Founding Partners Lenna Koszarny and Jeffrey C. Neal, is complemented by Senior Partners, Partners, Principals, and a professional team of Investment Directors, Compliance Analysts, and other specialists. This collective expertise enables Horizon Capital to identify promising entrepreneurs, provide strategic guidance, and drive the transformation of local leaders into regional and global champions.