PFR NCBR CVC Fund is a Fund-of-Funds intending to invest in CVC & VC funds more than PLN 800 m and more than PLN 1,6 b including private investor funds. This is the first Polish Fund-of-Funds providing financing in the CVC segment.

PFR NCBR CVC intends to create between 8 and 12 funds with capitalizations of PLN 80-320 m. Over the next few years, the funds will invest in small and medium technology companies. Besides the VC-type financial support, these companies will be given the opportunity to verify their ideas in a given corporation. When the role of the private investor in the fund will be an international corporation, Polish innovative projects will gain an additional possibility of faster expansion abroad.

Financing Model

Participation of NCBR CVC 50% (remaining contribution provided by private investors / corporations)

    Investment goals:

  • increase of innovativeness and competitiveness of Polish economy

  • increase of interest of corporations in innovative technological projects

Funds available

ca. EUR 200 m

Type of Fund

Fund of funds about the capitalization of ca. EUR 200 m

Fund profile

- Corporate Venture Capital / Venture Capital Funds

- independent management entity / autonomy in decision-making

- capitalization up to EUR 80 m

- flexible legal forms

Investment size

Investment value of up to EUR 15 m (growth and expansion)

Investment period

from 2017 to 2023

Selection process

Open VC/CVC funds selection process, up to EUR 200 m

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