National Capital Fund (KFK)

Obtaining PLN 53.4 million from the state budget (then Ministry of Economy) for investments in Venture Capital funds.

Two funds – BBI Seed Fund and Helix Ventures Partners – with the total capitalization of PLN 100 million were established on the basis of the capital from the Ministry of Economy and private investors. The latter one will invest the capital in Frisco.pl soon.

Obtaining EUR 180 million for investments in VC funds on the basis of an agreement for co-financing of the “Supporting venture capital funds” projects under Priority Axis 3. “Capital for Innovations” of the Innovative Economy Operational Program

The Government of Switzerland provides KFK with CHF 53 million from the Swiss-Polish Cooperation Program as part of the implementation of the project “Improvement of the business environment and access to funds for small and medium-sized enterprises by supporting venture capital funds” in the area “Improvement of the business environment and access to funds for small and medium-sized enterprises”

Over 7 consecutive years, the National Capital Fund signed agreements with a total of 18 management teams. They invested approx. PLN 0.5 billion in over 200 companies. Such companies included recognizable start-ups such as Audioteka, Booksy, Brand24, Frisco.pl, Infermedica, or Synerise.

On 3 August, Polski Fundusz Rozwoju S.A. (Polish Development Fund) purchased 100% of shares in Krajowy Fundusz Kapitałowy S.A. from Bank Gospodarstwa Krajowego. The transaction aimed at consolidating competencies in the area of the fund of Venture Capital funds and taking advantage of benefits arising from operating on a larger scale.

Pursuant to the provisions of the Act on the Development Institution System, starting from 2020, KFK operations will be continued as part of PFR Ventures. Therefore, PFR KFK program was established.