Polish VC market outlook Q3 2024
PFR Ventures and Inovo VC have published a report summarising activity in the Polish venture capital (VC) market for Q3 2024. The data shows that 45 companies raised a combined PLN 506 million from 60 funds in this period
This capital flow of PLN 506 million represents the total invested by both Polish and international funds across 45 transactions involving innovative Polish enterprises. The average transaction value was PLN 11.2 million. Cumulative funding for 2024 has now reached PLN 1.5 billion.
The trend of a low number of transactions continued into the third quarter. Although there was a modest improvement compared to the first quarter (nearly +50%), the result remains significantly below the statistics recorded in 2021-2023. By the end of September 2024, we recorded 80 seed rounds and 34 Series A+ transactions (with 16 of these occurring in the third quarter).
Komentarze autorów
The investment value increased by 14% compared to the 2023 average, yet the number of transactions remains relatively low. We anticipate a market acceleration in the coming quarters as companies receive funding from new funds bolstered by our EU-backed capital
In the third quarter, the market saw a range of notable transactions, surpassing the 100 million EUR threshold. The Polish VC market is back on a growth path, and I believe there is a real opportunity to reach the record levels of previous years. I anticipate that by the end of 2024, the Polish VC market will achieve results between 0.5 and 0.75 billion EUR
Statistics for selected transactions
Charakterystyka transakcji w Q3 2024
- 10 out of 45 transactions involved funds from PFR Ventures.
- 20 out of 45 transactions were primarily based on Polish private capital. Many transactions also included local business angels.
- Transactions involving PFR Ventures funds accounted for 19% of the capital invested this quarter.
- 49% of the capital was provided by international funds.
- Co-investments between Polish and international funds represent 19% of the investment value made since the beginning of 2024.
- We recorded 3 Growth VC transactions. More about rounds of this type is covered in a separate case study.
Find out more about the key transactions
Scroll through the base to see the parameters of the transaction
See selected pages from the report
