Polish PFR Ventures, a public fund-of-funds manager and part of the Polish Development Fund (PFR), has invested €63 million (PLN 270 million) in five VC funds: 4growth VC, Aegis Capital, iif VC, Kogito Ventures, and Lowercap. This investment brings their total capitalization to approximately €94 million (PLN 400 million).
- With a portfolio exceeding 80 funds, PFR Ventures has facilitated over 900 investments and backed notable companies, including Audioteka, Booksy, Frisco.pl, iTaxi, and Synerise.
- Earlier this year, PFR Ventures committed €47 million (PLN 200 million) to four early-stage VC funds: 24Ventures, Digital Ocean Ventures Starter, Hard2beat, and Tar Heel Capital Pathfinder.
Details of the current investments
The recent investments are the part of the European Funds for the New Economy (FENG) program, which backs 40 VC funds. The new capital is aimed at investing in around 65 Polish startups.
- 4growth VC is a Warsaw-based investment management firm that invests in intech, insurtech, and medtech startups with international potential. It targets companies with a ready product and recurring revenue. Previous investments include Cashy, Digital First AI, and Wealthon.
- Aegis Capital supports early-stage healthtech and longevity projects with global scalability, focusing on innovations that address demographic changes in developed countries.
- iif VC co-invests in global technology companies with strong R&D, offering high return potential and transparent exit paths for investors.
- Kogito Ventures is a Warsaw-based firm investing in 25 pre-seed and seed-stage companies. It focuses on the Polish market and Polish founders abroad. Previous investments include Jutro Medical and Lunching.
- Lowercap focuses on late-seed/early growth-stage technology companies with recurring revenues in Lower Silesia. It uses a deal-by-deal model with support from 20+ business sngels.
"In 2025, we will continue to recruit and search for the most promising management teams that have the right competences to finance Polish, innovative companies. We expect that the seed financing market will feel the presence of new funds already in the first quarter of 2025," claims Maciej Ćwikiewicz, CEO of PFR Ventures.
