Pursuits
Billionaire Soros Invests in Ukraine Software Firm
- Fund buys undisclosed stake in Ciklum with 2,500 programmers
- Fund co-founded by Ukraine Finance Minister sells shares
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George Soros is buying a stake in Ukrainian software developer Ciklum Holding Ltd. after committing to invest as much as $1 billion to help the country’s economy earlier this year.
The Ukrainian Redevelopment Fund, advised by Soros Fund Management LLC, agreed to buy an undisclosed stake in Ciklum from Danish founder Torben Majgaard and private-equity fund Horizon Capital, according to a statement Wednesday. Horizon was co-founded by Ukrainian Finance Minister Natalie Jaresko.