Warsaw-based VC Radix Ventures has announced the first €41 million close of a targeted €60 million fund. The capital came from the European Investment Fund (EIF), PFR Ventures GreenHub, and several tech enthusiasts from the CEE region.
- Founded in 2023 by experienced investors and technology entrepreneurs, including Paweł Bochniarz, Wojciech Ratymirski, and Michał Urbanowski, Radix is a new venture capital fund in Central and Eastern Europe aimed at supporting tech entrepreneurs.
- The founders of VC have a collective 45 years of experience in technology ventures. To date, they have overseen 8 exits and made 38 investments.
- Radix’s portfolio consists of prominent startups, including Booksy, ML System, Tresoit, Bitrise, Lerta.energy, and Noctiluca.
- Half of the raised funds will be dedicated to follow-on investments in its portfolio firms, focusing on energy, manufacturing, transportation, and mobility, as well as dual-use technologies that have a positive environmental impact.
- The fund is backed by the European Investment Fund (EIF), a member of the European Investment Bank Group that aims to help Europe's SMEs access financing, and PFR Ventures GreenHub, a fund of funds that invests in venture capital and private equity funds around Europe, as well as various angel investors.
- With the first close of their fund, Radix Ventures plans to accelerate the growth of groundbreaking deeptech startups in the CEE region.
“This milestone marks a journey that began over four years ago with the vision of a CEE-focused deep tech fund. Our goal is to raise at least €60 million to support 16–20 startups from all corners of CEE, investing at the late seed stage with tickets of app. €1–2 million,” General Partner at Radix Ventures, Pawel Bochniarz, stated.
