Dragon Capital

We’re excited to welcome a new Equity & Corporate Credit Research Analyst to our team 💚 If you (or someone in your network) might be a great fit — let’s connect! ❇️ Role Overview: We are looking for an intellectually curious, detail-oriented analyst with strong financial analysis skills and a genuine interest in capital markets. In this high-impact role, you will produce institutional-grade research for the firm’s international investor base, with a focus on corporate credit and listed equities across key sectors of the Ukrainian economy. ❇️ What You Will Do: ·       Lead the preparation of in-depth research reports on covered companies/sectors and contribute to Dragon Capital’s flagship publications ·       Monitor and analyse company news, market developments, and regulatory changes affecting covered issuers and sectors ·       Develop financial models, forecast company results, and translate analysis into actionable trade ideas ·       Present research findings to internal team and international investors ·       Respond to client inquiries with timely, well-reasoned views ·       Develop and maintain relationships with covered companies and industry experts. ❇️ What We’re Looking For: ·       3-6 years’ experience in sell-side or buy-side research, private equity, investment banking, corporate finance, Big Four, or management consulting ·       Strong financial analysis, modelling, and valuation skills ·       Excellent critical thinking, analytical skills, and attention to detail ·       Ability to handle complex tasks independently and deliver high-quality work under time pressure ·       Ability to communicate complex ideas in a clear, structured, and compelling way ·       Fluency in English and Ukrainian ·       BA degree or higher in finance, business, accounting, or a related field Would Be an Advantage: ·       CFA Charter completed or in progress ·       Expertise in the energy, metals and mining, or food and agriculture sectors. ❇️ Why Join Us: ·       Opportunity to build deep and internationally recognized expertise in Ukrainian sectors, corporate credit and equities, while gaining direct exposure to international institutional investors ·       Intellectually challenging tasks and meaningful responsibility from day one, with support from an experienced research team ·       Collaborative, supportive, and merit-based environment where strong analytical work is valued and recognized ·       Strong compensation, performance-based bonuses, and a competitive benefits package ·       Support for continuous professional development, training, and further education. If you want to build deep market expertise and contribute to research that matters for Ukraine’s investment story, we would be glad to hear from you. To apply please send your CV and a brief cover note to apply@dragon-capital.com, indicating “Equity & Corporate Credit Research Analyst” in the subject line

The EBRD, Amber Dragon Ukraine Infrastructure Fund I, and Negen have signed a Mandate Letter outlining the EBRD's intention to provide long-term debt financing for Phase II of the Power One project. With a total project cost of more than €90 million, Phase II is expected to add nearly 170 MW of new generation capacity across six sites in Ukraine, helping strengthen the country's energy resilience through decentralized generation. The signing builds on the successful implementation of Phase I, with 28.4 MW already operational and another 40 MW scheduled for commissioning in 2026. Eugene Baranov, Fund Lead of Amber Dragon Ukraine Infrastructure Fund I and Head of Infrastructure at Dragon Capital: “Investing in Ukraine's energy sector is a core part of Dragon Capital’s long-term investment strategy. The EBRD financing is a significant milestone, providing the debt capital required to complete implementation of Power One. Beyond the funding itself, it reflects the credibility and quality of the project and reinforces the confidence of international financial institutions in Ukraine's energy sector. We believe this transaction will help unlock further investment to support the country's energy recovery and economic resilience.” Read the full announcement https://lnkd.in/d8uFZqj3

A major milestone for investment in Ukraine’s recovery. Today, the European Flagship Fund for the Reconstruction of Ukraine announced approximately €260 million in commitments from leading European development finance institutions, including the European Investment Bank (EIB), KfW, CDP, BGK and Proparco. The Fund is the European Union’s flagship vehicle for channeling equity capital into Ukraine’s reconstruction and is designed to mobilise private investment into sectors critical for the country’s recovery. Backed by the European Commission and the governments of France, Germany, Italy and Poland, it represents a strong European commitment to Ukraine’s long-term recovery and growth. Managed jointly by Amber Infrastructure and Dragon Capital, the Fund will support critical infrastructure, energy, transport and logistics, digital infrastructure, as well as Ukrainian businesses that are essential to rebuilding the economy and creating jobs. By combining Amber Infrastructure’s international infrastructure investment expertise with Dragon Capital’s 25 years of investment experience and on-the-ground presence in Ukraine, the Fund brings together the capabilities needed to identify opportunities, deploy capital effectively and support sustainable growth. The commitments announced today represent a powerful signal of confidence in Ukraine’s future and mark an important milestone in mobilising long-term capital to support the country’s recovery, resilience and growth. Read the full announcement on our website https://lnkd.in/d-we6hfu

🏗️ Construction of Phase II of M10 Lviv Industrial Park, developed by Dragon Capital, is actively underway. Foundation works are 98% complete, while the installation of columns and other key structural elements is progressing. For companies considering the expansion of existing operations or the launch of new production facilities, now is the right time to engage. At this stage, there is still an opportunity to incorporate specific business requirements and tailor the future space to production needs. 📩 If you are looking for a location for manufacturing near the EU border or planning new production capacity in Ukraine, we would be happy to discuss opportunities at M10 Lviv Industrial Park. Learn more: m10.com.ua

Thirty years of investing in Ukraine have taught us that resilience alone is not enough. Long-term investment depends on trust, the rule of law, and institutions that work. Ahead of the Ukraine Recovery Conference, Dragon Capital founder Tomas Fiala shares his perspective on what has changed in Ukraine’s investment climate over the past three decades, what still holds investors back, and why he remains optimistic about the country’s future. From the rule of law and foreign direct investment to the role of international financial institutions and private capital, the interview examines what it will take to turn investor interest in Ukraine into long-term investment commitments. Read the full interview with The Kyiv Independent https://lnkd.in/dGbJJu6b

This week Gdańsk is set to become a key meeting point for discussions on Ukraine’s recovery — a place where new projects and initiatives are announced, partnerships are formed, and investment opportunities take shape.   Our team will be attending the Ukraine Recovery Conference, speaking at a number of events and engaging with investors, businesses, policymakers, and development partners committed to Ukraine’s future.   We look forward to connecting with those who are helping drive Ukraine’s reconstruction, economic resilience, and long-term growth.

“There is no reason to wait until ‘after the war.’ We need to act now.” Speaking at the “Charting a Path to Ukraine’s Reconstruction” panel during the EBRD Annual Meeting in Riga, Dragon Capital Founder Tomáš Fiala shared his views on the reforms that can help Ukraine attract more private capital today and lay the groundwork for future economic growth. The discussion also featured EBRD President Odile Renaud-Basso, UK Chancellor of the Exchequer Rachel Reeves, European Commissioner for Economy and Productivity Valdis Dombrovskis, and Ukraine’s Minister of Finance Serhii Marchenko. The panel was moderated by Euronews Europe Correspondent Sasha Vakulina. Tomáš emphasized that Ukraine should continue implementing reforms even in wartime in order to attract investment. Among the key priorities, he highlighted: 📌 strengthening the rule of law; 📌 further economic deregulation; 📌 accelerating privatization; 📌 liberalizing tariffs; 📌 creating conditions for attracting long-term private capital. At the same time, he praised the extraordinary resilience of the Ukrainian people and businesses, thanked the Armed Forces of Ukraine for defending not only Ukraine but Europe as a whole, and highlighted the rapid development of Ukraine’s defense industry, which is already producing world-class innovations that will strengthen European security. Tomáš also commended the Ukrainian Government and the National Bank of Ukraine for maintaining macroeconomic stability. As an example of successful reforms, he pointed to deregulation in the energy sector, which has significantly reduced the time required to bring new generating capacity online — a trend reflected in the experience of our Power One project. When asked which instruments the EU should use to mobilize more private capital for Ukraine’s reconstruction, Tomáš highlighted first-loss guarantees as one of the most effective mechanisms. He cited the EU Flagship Fund for the Reconstruction of Ukraine as a successful example of this approach. The full recording of the discussion is available in the comments.

Power One, a Dragon Capital group company, has won the 2026 Sustainability and Impact Awards – Resilient Improvements from the European Bank for Reconstruction and Development (EBRD). Aimed at strengthening the Ukrainian energy system, the project was recognized by the jury as one of five award-winning initiatives globally. The ceremony took place on 5 June at the 35th EBRD Annual Meeting and Business Forum in Riga, Latvia. Power One is a large-scale energy initiative focused on building a diversified portfolio of distributed power generation assets across Ukraine. The project combines highly flexible gas-fired generation, battery energy storage systems, and renewable energy sources to enhance the resilience and reliability of the country’s energy infrastructure.    Our warmest congratulations to the Power One team!

Ukraine’s investment story is no longer about potential — it is about execution. At Forbes Money 2026 by Forbes Ukraine, Eugene Baranov, Managing Director and Head of Infrastructure at Dragon Capital, shared the company’s perspective on infrastructure development, Ukraine’s reconstruction, and attracting private capital to the country. At Dragon Capital, we believe that a country’s investment attractiveness is built through tangible projects, speed of execution, and measurable results. That is why, through Amber Dragon Ukraine Infrastructure Fund I and our other investment vehicles, we focus on capital-intensive projects across the energy, infrastructure, and digital sectors. These investments create critical assets and contribute to Ukraine’s long-term development. One of our recent projects moved from investment to commissioning in just 10 months. This ability to execute quickly is one of Ukraine’s key competitive advantages for investors. At the same time, mobilizing larger volumes of private capital requires continued efforts to reduce investment risks. Initiatives such as the European Flagship Fund for Reconstruction of Ukraine, with its first-loss protection mechanisms, can play an important role in unlocking new investment. Ukraine is building its investment story today through real projects, resilience, and the ability to turn challenges into opportunities.

Amber Dragon Ukraine Infrastructure Fund I has raised € 207 million and having reached first close, will begin deployment of capital into Ukraine's energy, transport and digital infrastructure, with initial investments to be announced in due course. The first close follows the signing ceremony held at the World Economic Forum Annual Meeting in January 2026, where anchor investor commitments were confirmed. They are the European Bank for Reconstruction and Development, the European Investment Bank (EIB), the International Finance Corporation (IFC), Swedfund and Impact Fund Denmark. Part of IFC’s investment in the Fund will be covered by guarantees from the European Commission and the Government of France. Co-managed by groups, Dragon Capital Capital and Amber Infrastructure, ADUIF I is the first-ever specialised infrastructure fund investing fully in Ukraine. Capital deployed through the Fund will help stabilise emergency energy supply, strengthen digital infrastructure and services, ease bottlenecks in transport and logistics, and modernise critical infrastructure that is essential to Ukraine’s long-term reconstruction and job creation. Dragon Capital and Amber Infrastructure also make sizeable investment commitments to ADUIF I as co-managers. Full text of the press release is available on our website https://lnkd.in/dxMX4xHA