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VC

PFR KOFFI

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Fund profile

growth, expansion ? PFR KOFFI funds inwest in companies in late growth stage, that seek funding for i.e. internation expansion

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available funds

PLN 324m

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Commitment

up to PLN 60m

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Private commitment

Yes, min. 50%

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Investment period

from 2017 to 2023

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Investment process

continous call ? You can apply anytime

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About

PFR KOFFI is dedicated for Venture Capital funds focused on inwesting in innovative companies in the grwoth or excpansion stage.

The program provides financing to VC Funds, which, thanks to experience, competencies, and contacts of their management teams, provide their portfolio companies not only with financial aid but also with so-called smart money, thus considerably boosting their chance to succeed commercially on both Polish and international markets.

As part of investments, PFR KOFFI may allocate a maximum of up to EUR 13 million (~PLN 60 million) in one VC fund, however, this must constitute no more than 50% of its entire capitalization. 
 

Investment objectives:
It is the indirect objective of PFR KOFFI to develop the market of venture capital funds and to enhance the activity of private investors in the VC segment.

 

  • to increase the financing of innovative activities of SMEs
  • to support the development of companies at the growth, development and expansion stage
  • to internationalize activities of companies
  • to develop venture capital funds
  • to activate private investors.

 

Funds supported by PFR KOFFI:

 

PFR KOFFI program is based on funds from the Smart Growth Operational Program 2014-2020. 


 

Assets

FAQ

1. How the Investment Offer should be submitted to PFR KOFFI FIZ?

The Investment Offer should be submitted through an individual account available at https://www.pfrventures.pl/pl/. Access to the account requires registration: https://www.pfrventures.pl/en/register/

2. Which documents, in what form and at which stages, should be submitted by the Tenderer to PFR KOFFI FIZ?

a) Appendix No. 1 "Tender Identification Form" – a mandatory form; Financial schedule/budget of VC Fund might be send in any form.
b) Appendix No. 2 "Tenderer’s Key Personnel Tenderer Verification Form" – a completed attachment is preferred. Alternatively, only section E of the Form might be completed and resumes of Key Personnel in any form should be attached as a separate documents.
c) Appendix No. 3 "Tenderer’s Investment Strategy" – any form is allowed (e.g. presentation or .doc format).
d) Appendix No. 4 "List of the Tenderer’s Potential Investment Projects" – any form consistent with the data scope of Appendix’s no. 4 template is allowed.
e) Appendix No. 5 "Tenderer’s Statament" – a mandatory form.
f) Appendix No. 6 "Statement by Member of Tenderer’s Key Personanel" – a mandatory form.
g) Appendix No. 7 "Statement by Team Member Making a Contribution as Part of Declared Capitalisation" – a mandatory form.
h) Attachment No. 8(i) "Private Investor's Statement (Natural Person)" – a mandatory form due complete before the Due Diligence process starts.
i) Appendix No. 8(ii) "Private Investor's Statement (Legal Person)" – a mandatory form due complete before the Due Diligence process starts.

Templates of the documents (attachments) the Tenderer should provide to PFR KOFFI FIZ are available at https://www.pfrventures.pl/en/fund/6/pfr-koffi-fiz/.

3. When investment offers might be submitted by natural persons?

a) In case of Polish structures, natural persons might submit an investment offer as an internal managing body of VC Fund. It is applied when a VC Fund (Financial Intermediary) act as Capital Company (sp. z o.o. or S.A.). Then natural persons act as an internal Managing Entity, that is the management board of Capital Company.

b) In case of overseas structures, there is a possibility to submit an investment offer by natural persons which are to establish Managing Entity/VC Fund, regardless of the planned legal form of Managing Entity/VC Fund (Capital Company or a Limited Joint-Stock Partnership, close-end Fund). The planned legal structure shall be precisely described in investment offer, that necessary analysis might be conducted.

Submitting an investment offer as a natural person, please indicate “Managing Entity” in appendix no. 1 (section “Type of the Tenderer”).

4. Does Managing Entity might be related to Fund’s investors in capital or personal terms?

The Management Entity should be completely independent. Any potential areas of conflicts of interest along with how they are to be mitigated, should be described in detail in Appendix 3 - Tenderer’s Investment Strategy.

5. Does the Tenderer shall present a pipeline of investment projects of the VC Fund?

The Tenderer shall present a credible pipeline. Any form consistent with the data scope of Appendix’s no. 4 template is allowed.

6. Will the PFR KOFFI transfer the funds for investments in total value to VC Fund or the funds for investments will be tranched under the capital calls based on specific investment needs?

The funds for investments will be trachned under the capital calls based on specific investment needs of VC Fund.

7. Does the VC Fund have to have the ASI status in the KNF (Polish Financial Supervision Authority) register at the time of signing the Investment Agreement?

Tenderers who have been selected during the call and signed the Investment Agreement but have not been registered yet in the ZASI register, will be conditionally suspended and the Investment Agreement enter into force after registration in ZASI register.
For other ASI requirements, we encourage you to read the information at: https://www.pfrventures.pl/en/detail/46/pfr-starter-fiz-information-for-the-four-men/.

8. Can a member of the Investment Committee who is an external expert, might be a member of an investment committee in another fund?

As a general rule, this is not disallowed. Potential conflicts of interest should be presented along with the way in which they will be mitigated.

9. Can a member of the Investment Committee who is an external expert be a member of key personnel in another fund?

As a general rule, this is not disallowed. Potential conflicts of interest should be presented along with the way in which they will be mitigated.

Do you have any questions?

If you want to know more, please contact us.

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