Amber Dragon Ukraine Infrastructure Fund I (ADUIF, the Fund), the first dedicated infrastructure fund investing exclusively in Ukraine, is nearing its first closing, having raised about EUR 200 million, which is more than 55% of the Fund's target size of EUR 350 million.
Dragon Capital has announced this, the Ukrainian News agency reports.
Infrastructure projects supported by the Fund will help stabilize emergency power supply, strengthen digital infrastructure and services, and eliminate key constraints in transport and logistics. In addition, the Fund will contribute to Ukraine's recovery by modernizing the basic infrastructure needed to rebuild the economy and create jobs.
After completion of all procedures required for the first closing, the Fund will attract investments from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the International Finance Corporation (IFC), Swedfund, Impact Fund Denmark, as well as from the Fund's managing partners Amber Infrastructure and Dragon Capital.
Part of the IFC investment in the Fund will be covered by guarantees from the European Commission and the French government.
The volume of investments attracted already at the first closing stage demonstrates investor confidence in ADUIF’s strategy and the long-term potential of Ukraine’s infrastructure sector. The Fund expands access to equity capital, which allows for investments in renewable energy, transport and digital infrastructure — key areas for rebuilding and strengthening the country’s resilience.
Amber is part of Boyd Watterson Global Asset Management Group LLC ("Boyd"), a global diversified infrastructure, real estate and debt asset management group with more than USD 36 billion in assets under management and more than 300 employees in offices in eight cities across the United States and twelve countries.
Amber is an international investment manager specializing in investment, asset and fund management. The company currently manages or advises nine funds and managed accounts (two public and seven private) with a total of approximately GBP 5 billion of funds under management. The company has a presence in 12 countries and manages more than 200 infrastructure investments with a combined AUM of GBP 14 billion (approximately USD 19 billion) as of June 30, 2025. Amber is headquartered in London with offices in Europe, North America, Australia and New Zealand.
As the Ukrainian News agency earlier reported, Dragon Capital is one of the investment companies in Ukraine operating in the field of asset management and investment banking. It is an existing client of the EBRD. The company was founded in 2000 and has almost 30 years of experience in fund management and investment.
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