This is a weekly digest of news about investment and business development in Ukraine from the UkraineInvest team

Horizon Capital has expanded the size of its new fund to USD 298 mln to invest in Ukrainian startups.
Horizon Capital, a Kyiv-headquartered investment company, raised over 65% of commitments from private investors at the closing of HCGF IV on 28 September 2023, adding USD 44 mln to fund Ukrainian visionary entrepreneurs.

The US has already frozen USD 8 bln of russian assets.
Most of these assets are located in the EU and Japan. At the same time, Penny Pritzker, the US President’s Special Representative for Ukraine’s Economic Recovery, stressed that these assets should be used for Ukraine’s post-war recovery.

GDP growth of 19.5% in the second quarter shows that the economy has adapted to the war conditions, – the Ministry of Economy of Ukraine. 

The Ukrainian economy has adapted to the force majeure conditions. According to the State Statistics Service’s preliminary estimate, GDP growth in the second quarter of 2023 was 19.5% year-on-year. The growth was across all components of demand. Also, in Q2 2023, the economic sentiment indicator was positive for the first time since Q2 last year, at 9.4%.

Three quarters of surveyed subsoil users continue to invest during the war – European Business Association. 
In particular, 74% of surveyed companies continue to invest in Ukrainian subsoil. At the same time, 82% of respondents consider the subsoil use sector to be attractive for investment, and the resource potential of Ukraine is estimated at 7.85 points on a 10-point scale.

UAH 21.8 bln in grant funds from the Government of Japan will be allocated to Ukraine’s recovery projects.
The Cabinet of Ministers of Ukraine has decided to allocate UAH 21.83 bln in grants to implement the Emergency Recovery Programme through a special fund of the state budget. These funds were received in accordance with the grant agreements between the Government of Ukraine and JICA – Japan International Cooperation Agency signed on 9 March and 13 April 2023. The Government also approved the Procedure for the use of funds provided under these grant agreements.

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