Horizon Capital Catalyst Fund (HCCF)
Introduction
Swedfund invests EUR 20 million in Horizon Capital Catalyst Fund (HCCF), a new platform targeting critical sectors for Ukraine’s reconstruction, including renewable energy, industry and digital infrastructure. The investment reflects Swedfund’s continued commitment to strengthening the resilience and recovery of Ukraine’s private sector.
Swedfund has a particular mission to support Ukraine’s economic recovery through private‑sector investment. Previous investments have aimed to support the country’s IT and energy sectors.
Read more in our press release: Swedfund invests to support critical sectors for Ukraine’s reconstruction
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Climate Action
Take urgent action to combat climate change and its impacts.
Reduced Inequalities
Reduce inequality within and among countries.
Sector
Energy & Climate
Within the Energy & Climate sector, Swedfund only invests in renewable energy sources. The expansion of sustainable energy supplies requires a broad approach and innovative solutions.
Value creation
Impact
The investment aim to support Ukraine’s sustainable recovery by rebuilding essential, climate-aligned infrastructure, creating jobs throughout construction and operations, and advancing gender equality by strengthening women’s participation across the value chain.
Additionality
Swedfund's investment will support fundraising efforts and help mobilise additional capital. The investment is expected to be value additional by focusing on value creation during the investment phase, by particularly focusing on environmental, social, governance and impact issues.
ESG
Requirements
In line with Swedfund’s Policy for Sustainable Development, the portfolio company is required to materially comply with, inter alia: (i) all internationally recognised human rights (ii) the EDFI harmonized exclusion list and EDFI Fossil Fuel Exclusion List, (iii) local environmental, health & safety and labour laws and regulations, (iv) applicable IFC Performance Standards, (v) the ILO’s Declaration on Fundamental Principles and Rights at Work and the ILO’s Basic Terms and Conditions of Employment.
ESG Risk
E&S risk categorisation is High Risk (Fund-A), based on the potential E&S risks and impacts in the lending portfolio, focusing on infrastructure projects, as well as contextual risks related to the ongoing conflict in Ukraine.
ESG Mitigation Measures
Swedfund is supporting the Fund Manager in strengthening its environmental and social management system (ESMS) to manage the high risks in the sector of operation as well as heightened contextual human rights risks given the war conflict.
Applicable IFC Performance Standards
IFC PS 1, 2 and 4 are applicable at Manager level, and PS 1-6 are applicable at portfolio level.
Whistleblowing channels and Grievance Mechanism
Swedfund’s whistleblowing services can be used by employees, contractors and others at Swedfund, and by the companies and funds in which Swedfund invests. The complaints mechanism can be used for all types of complaints concerning Swedfund and Swedfund’s portfolio companies, but not for complaints concerning individuals as a result of restrictions arising from data protection legislation. 🔹 Link in website footer.
Other investments within
Energy & Climate