Western NIS Enterprise Fund


Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova with 28 years of successful experience in investing in small and medium-sized companies. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). Since its inception, WNISEF’s cumulative investments total over $188 million to 136 companies employing around 26,000 people and made it possible to unlock $2.3 billion for companies in Ukraine and Moldova.

In 2015 WNISEF has launched a $35 million legacy program focused on export promotion, local economic development, impact investing and economic leadership.


WNISEF is funding innovative, high-impact, reform focused programs and aims to support Ukraine and Moldova at this critical period by developing sound economic policy and leadership.


WNISEF is governed by an independent Board of Directors comprised of leading representatives of the U.S. business community. WNISEF was established by the U.S. Congress and funded by the U.S. government via USAID.

We believe that these funds will be the catalyst that will expedite the transformative process and cement its results for the longer term – until ordinary people feel a tangible impact on their lives and join the ranks of reformers.

Jaroslawa Zelinsky Johnson

President and CEO of Western NIS Enterprise Fund


USAID-Backed Western NIS Enterprise Fund Commits $10 million to Horizon Capital’s Latest Fund for Ukraine and Moldova

September 26, 2022

Western NIS Enterprise Fund (“WNISEF”) has committed $10 million at the first closing of Horizon Capital Growth Fund IV, LP (“HCGF IV”), managed by Emerging Europe’s leading regional private equity firm, Horizon Capital. WNISEF’s commitment supported Horizon Capital in raising $125 million at the first closing, exceeding its $100 million target due to the momentum achieved based on the dedicated support of existing investors including WNISEF. With the backing of WNISEF and other first close investors, Horizon Capital has achieved a record high first closing, reaching 50% of its $250 million target, and the highest first close in the firm’s history. WNISEF’s Chairman of the Board as well as its President & Chief Executive Officer, were present at the signing ceremony held today at IFC’s London office, with the President of Ukraine Volodymyr Zelenskyy participating virtually in the official ceremony to mark this important event.

Want to speak Ukrainian? Now it’s even easier to start! Western NIS Enterprise Fund supports The United project

September 15, 2022

Western NIS Enterprise Fund (WNISEF) has supported The United project aimed to ease the transition to the Ukrainian language. Since April the project has been actively implemented by the Teach in Ukrainian initiative.

International Mayors Summit Supports “The United” Project, Which Boosts The “Teach Ukrainian” Initiative in The Regions

July 27, 2022

With support of the Summit, “The United” project has kickstarted a powerful network of conversation clubs throughout Ukraine and signs Memorandums of cooperation with city mayors and heads of amalgamated territorial communities.

Helping Displaced Children and Stray Pets: Western NIS Enterprise Fund Held the Sixth international IT Contest Technovation Girls

July 27, 2022

On July 13, the sixth Technovation Girls Ukraine Regional Pitch was held, where the Ukrainian teams made of world semi-finalists rolled out prototypes of their apps!


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Made in Ukraine – Nazar Bilous. LaMetric

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Made in Ukraine – Viktor Kopach and Vasyl Dub. Animal ID

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WNISEF 25th Anniversary Reception