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Aktualności Publish date: 22 September 2025

PFR Ventures commits PLN 240 million to three new Polish VC funds

📰 Download the text version of the press release


PFR Ventures has finalised agreements with three additional venture capital fund management teams as part of the European Funds for a Modern Economy (FENG) programme. These new funds will have a combined capitalization of over PLN 410 million, with PFR Ventures committing nearly PLN 240 million. This capital is earmarked for investment in innovative Polish startups.

The funds allocated by PFR Ventures will go to Momentum Capital Partners, Navivo Capital and vastpoint. The first two managers obtained them from the PFR KOFFI programme, whose strategy assumes investments in advanced innovative projects at the growth stage. In turn, vastpoint is a fund that uses funds under the PFR Otwarte Innowacje [Open Innovations] programme and will operate in a co-investment model, also providing capital to companies primarily at the seed stage.

New funds in the PFR Ventures portfolio

Click on the logo to go to the fund's website

Allocation details


Fund nameCapitalisation 
(mln PLN)
PFR Ventures contribution
(FENG, PLN milion)
Momentum Capital Partners14680
Navivo Capital14380
vastpoint80+44*77

*Co-investment fund. The first figure is the fund's capitalization; the second is the minimum private capital the management team must secure for co-investments.  


Comments from representatives of the PFR Group

Over PLN 410 million of new funds represent another strong impetus for the development of Polish innovations. Thanks to EU funds from the FENG programme, it has been possible to mobilise private capital and support the market entry of new investment teams with diverse experience, competences and strategies. This diversity creates broad opportunities to support young, innovative companies. By investing capital, we are also investing in change, which drives the entire venture capital ecosystem

– said Mikołaj Raczyński, Vice-President of Polski Fundusz Rozwoju

The agreements just signed have increased the availability of capital for innovative companies by 60%. EU funds invested through our vehicles have already supported 15 companies. We estimate that the budget available across all active VC funds in our portfolio is around PLN 3 billion, of which PLN 1 billion has been mobilised thanks to the European Funds for a Modern Economy

said Rozalia Urbanek, Member of the Management Board at PFR Ventures.

account_box Profiles of new funds

Momentum Capital Partners

Momentum Capital Partners is a growth equity fund with a capitalisation of PLN 146 million, investing in companies at the stage of dynamic growth. Typically acquiring minority stakes, it invests between PLN 5 and PLN 20 million per company. Its strategy assumes investments in companies with a validated and scalable business model, operating in market segments characterised by above-average expected growth rates. In addition to capital, the Momentum team offers strategic support and operational expertise, providing a unique value proposition for entrepreneurs scaling their businesses.

LinkedIn funduszu

Navivo Capital Poland

Navivo Capital Poland was established to support Polish startups with both capital and hands-on operational experience. Its management team has a track record of building global companies, investing hundreds of millions of zlotys to help them become regional leaders. The team actively engages in the operational development of its portfolio companies to drive international scaling and has a history of twenty successful exits.

LinkedIn funduszu

vastpoint

Vastpoint is led by three partners with unique international experience in operations, investment, and entrepreneurship. The fund will back ambitious Polish founders, primarily at the seed stage, with a focus on the AI, HealthTech, and SaaS sectors. Leveraging experience from Y Combinator, ElevenLabs, their own ventures, and top European VC funds, vastpoint provides capital alongside a valuable network and expertise in building global companies.

LinkedIn funduszu

About the FENG Programme

The European Funds for a Modern Economy (FENG) programme is set to finance approximately 40 venture capital funds. It will contribute PLN 2.1 billion in public funds, which will be matched by an additional PLN 1.1 billion from private investors. To date, over PLN 750 million has been allocated to 12 management teams. Combined with private capital, these teams now have over PLN 1.2 billion to invest in approximately 200 innovative companies.

Programmes financed from FENG resources are managed by PFR Ventures in partnership with Bank Gospodarstwa Krajowego, acting on behalf of the Ministry of Funds and Regional Policy. Their role is to stimulate various types of investments in startups and technology companies. Some of them focus on providing financing for the early-stage projects, while others make it possible to develop projects with partners in the form of corporations or business angels.


 

Recording of the press conference

Watch the entire press conference, where we summarized the status of the FENG program and the managers presented the announced funds in more detail.

Watch the video