The Rebuild Ukraine Fund (REBUF), managed by Dragon Capital, will receive $15M from Norfund, a Norwegian government fund. This investment aims to help Ukrainian companies in need of capital to develop amid the ongoing conflict.
REBUF plans to raise a total of $250M and will invest in companies that have remained resilient despite the war. Priority sectors include manufacturing, consumer goods, healthcare, and technology. Norfund’s contribution will be part of the fund’s first closing, along with commitments from other European development finance institutions, including the IFC and the EBRD, which pledged $25M each in November. This marks the second investment under Norfund’s mandate to provide support to Ukraine, focusing on projects with high risk but significant potential to enhance the country’s resilience, reconstruction, and integration with European markets.
Dragon Capital announced it would invest $20M of its own funds in REBUF. The firm has been managing private equity funds since 2010, and REBUF is its third fund of this kind. It aims to support Ukraine’s economic recovery through investments in small and medium-sized enterprises and mid-cap companies with annual revenues of up to $50M.
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