Infrastructure Finance & Advisory

Navigating Infrastructure Finance & Investments

From Origination to Financial Close. We help private companies, PE funds, and public institutions unlock complex infrastructure financing across Ukraine and neighboring markets.

Key relationships
IFIs Donors Public sector Investors
$1bn
Blended finance portfolio managing experience
Government · IFIs · Private Sector
Three perspectives operating simultaneously — in one advisor
On-the-Ground
Kyiv-based with active governmental, IFI, and institutional networks
Who we work with

Three clients. One integrated practice.

We operate at the intersection of three client needs that most advisory firms address separately.

The Challenge

Private companies face complex IFI and donor requirements — ESG frameworks, social standards, procurement rules — that are unfamiliar and time-consuming to navigate without specialist support.

What We Deliver

  • Project structuring to meet IFI requirements
  • ESG framework design as a financing condition
  • Loan & grant application preparation and negotiation support
  • Blended finance structuring: grants + concessional + commercial debt
  • Full-cycle support from origination to financial close
Outcome: Your project becomes bankable — meeting IFI conditions and securing the financing it needs.

The Challenge

Foreign funds interested in Ukrainian infrastructure face an information gap: identifying genuinely investable assets, understanding IFI co-financing structures, and conducting credible on-the-ground due diligence from abroad.

What We Deliver

  • Sector-specific deal sourcing across infrastructure assets
  • Investment pipeline identification: PE targets, concessions, PPPs, IFI-backed projects
  • On-the-ground due diligence support in Ukraine
  • IFI co-financing structure analysis and bankability review
  • Market & regulatory intelligence for infrastructure investments
  • Access to ministry-level and IFI stakeholder networks
Outcome: You gain a trusted local expert with IFI networks and government access — from first screening to deal execution.

The Challenge

Governmental bodies and Development partners face a pipeline problem: recovery needs are vast, but converting them into financially viable, donor-ready projects requires specialist structuring, coordination across multiple stakeholders, and implementation expertise.

What We Deliver

  • Project viability assessment and bankability analysis
  • Preparation of donor-ready project documentation
  • Expert body and Project Steering Office (PSO) establishment
  • Multi-donor coordination and facilitation
  • Grant application support: CEF, Interreg NEXT, EU instruments
  • Hands-on project implementation and PMO support
Outcome: Recovery needs are converted into structured, financeable projects ready for donor and IFI engagement.
Why VSH Advisory

What sets us apart.

01

Three Perspectives, One Advisor

Government · IFIs · Private Sector — we are the rare advisor who has operated credibly inside all three simultaneously.

02

Real Portfolio Experience

$1bn IFI-financed infrastructure portfolio managed hands-on across EBRD, EIB, and World Bank projects.

03

Bilingual, Skilled Team

PhDs, western-educated professionals, and multi-sectoral experts — fluent in the language of both IFIs and local stakeholders.

04

On-the-Ground in Ukraine

Kyiv-based with active government, IFI, law firm, and institutional networks — not remote advice from abroad.

About VSH Advisory

VSH Advisory is an infrastructure advisory firm helping private companies, Private Equity and infrastructure funds, and public institutions unlock complex infrastructure financing across Ukraine.

We combine government, IFI and private sector experience within one advisory practice — helping clients navigate financing, implementation and institutional requirements across the full infrastructure project cycle.

Operating entity: ФОП Шемаєв Володимир Володимирович
Individual Entrepreneur (FOP), Ukraine
Founder
Dr. Volodymyr Shemayev
IRJ Young Leader in Rail 2024
Edmund Muskie Scholar
Proven experience of managing $1bn IFI-financed portfolio
PhD in Economics