€350M Private Equity For Ukraine Infrastructure
The Amber Dragon Ukraine Infrastructure Fund I is the first dedicated equity vehicle for Ukraine reconstruction. Backed by a €220M public first-loss tranche from EIB, EBRD, KfW, and others, it invests in energy, transport, and digital infrastructure. Access is relationship-driven — no public application portal.
How It Works
The Amber Dragon Ukraine Infrastructure Fund I is the first dedicated private equity vehicle for Ukraine reconstruction. The €220M public first-loss tranche from development banks dramatically lowers risk premiums, making it commercially viable for European project developers and infrastructure companies to enter the Ukrainian market with equity.
Sectors
- Utility-scale renewables
- Grid balancing infrastructure
- Logistics centres and ports
- Private railway assets
- Telecom towers and fibre
- Data centres
Is This For You?
You Qualify If
- You are a project developer or infrastructure company
- You have a concrete investment project in Ukraine
- Your project is in energy, transport, or digital infrastructure
- Your project size fits €20-50M equity tickets
- You are open to equity partnership / co-investment
Not For You If
- You are looking for grants or loans (this is equity)
- Your project is early-stage without a defined business case
- You cannot accept an equity partner
Frequently Asked
How do I pitch a project?
This fund is relationship-driven — there is no public application portal. Approach Dragon Capital (Kyiv) or Amber Infrastructure (London) directly to discuss co-investment. Fundwiser can facilitate introductions.
What's the first-loss tranche?
€220M from EIB, EBRD, KfW, CDP, BGK, Proparco absorbs initial losses, lowering risk premiums for private co-investors. This effectively subsidises the geopolitical risk.
What's the first investment?
Power One — a distributed energy project receiving €21.1M in EBRD financing. Confirmed the fund's operational status.
Who are the investors?
EIB (€50M), EBRD (€60M), IFC, Swedfund, Impact Fund Denmark, KfW, CDP (Italy), Proparco (France), BGK (Poland). First close at ~€200M in December 2025.
When is the formal launch?
Expected at the Ukraine Recovery Conference in Gdansk, summer 2026, with target of €800M. Ultimate target is €1B+ by 2027-2028.
Ukraine
Infrastructure Project?
The Flagship Fund is actively investing. Let's discuss your project.