Poland’s SMOK Ventures has closed its second $25 million fund, with plans to support up to 35 pre-seed and seed startups from Central and Eastern Europe and the region’s founders abroad, as reported by Sifted.
- Co-managed by Paul Bragiel, Diana Koziarska, and Borys Musielak, SMOK Ventures focuses on backing early-stage SaaS, AI, and gaming startups from across CEE, as well as support the region’s diaspora abroad. The checks’ amounts that the VC usually writes range from $100,000 to $1 million.
- The first close of its second fund was in 2022. Back then, SMOK Ventures raised money from more than 60 private LPs and invested in 12 startups from Poland, Ukraine, the Czech Republic, Croatia, Bulgaria, Latvia, Serbia, and Bosnia.
- This time, PFR Ventures supported SMOK Ventures during the second fund’s final close, investing money from PFR’s separate investment pocket.
- Using the fresh capital from Fund II, SMOK Ventures wants to expand its portfolio with 10 new project in 2024, with Poland remaining its primary market.
