Horizon Capital, a private equity firm based in Kyiv, Ukraine, has exceeded its fundraising target for its fourth fund and has received 2X Flagship Fund status, which means it commits to driving gender diversity in its portfolio.
The 2X Challenge is a gender-based finance initiative founded by the development finance institutions of the G7 nations.
The flagship fund status recognises Horizon’s commitment to build a portfolio with at least 30 percent of the investments fulfilling 2X criteria, which include having women make up 30 percent of leadership positions in the company, and having women account for between 30 and 50 percent of the company’s workforce.
“Investing in companies with strong gender diversity policies leads to improved financial performance, as companies with diverse leadership teams tend to be more innovative and make better decisions,” Lenna Koszarny, founder and chief executive told Carmela Mendoza as a part of a wide-ranging interview on affiliate title Private Equity International.
“Promoting gender equality and women’s empowerment, as well as supporting economic growth and generating positive social impact [is] so important for Ukraine in these challenging times.”
In related news, AfricInvest, a pan-African private markets firm, has achieved 2X Flagship Fund status for its debt vehicle AfricInvest Private Credit, according to a press release. Investors in the fund include FMO, US International Development Finance Corporation and Finnfund.