PFR Ventures has already allocated all resources available under the PFR Open Innovations programme.
The resources in the amount of PLN 390 million were used to create 6 Venture Capital funds with a total of PLN 670 million (when combined with private funds) at their disposal for investment in start-ups and investment management.
PFR Open Innovations is a fund managed by PFR Ventures under the Smart Growth Operational Programme 2014-2020. Its aim was to invest in Venture Capital funds, which will subsequently provide finance for technological start-ups in seed and growth phases.
“Throughout the whole programme, we considered 27 applications. After an intensive due diligence process and negotiations, we decided to invest in 6 teams. We believe that the partners which make up these teams have the greatest potential for effective management of our resources. Special attention was paid to prior experience in investment in technological companies and the ability to add value to their development (“smart money”),” says Rozalia Urbanek, investment manager at PFR Ventures, who is in charge of the Open Innovations programme.
The created funds are: Aper Ventures, Montis Capital, Value Tech Growth, RedBreek Investments, Augere Open Innovations and Atmos Ventures. In total, the partners from these teams have invested in over 200 start-ups so far.
The funds will start investing this quarter already. Each of them has between PLN 5 million and approx. PLN 20 million at its disposal for a single investment. The teams’ main fields of interest are the medical industry, life science and IoT.
PFR Ventures is a Fund of Funds which, together with private investors, business angels and corporations, will invest over PLN 4 billion in Venture Capital funds. Their aim will be to use this capital to boost the potential of innovative Polish companies at early stages of development. The PLN 2.7 billion which is at PFR Ventures’ disposal comes from the Smart Development Operational Programme 2014-2020.
Photo of Rozalia Urbanek: https://bit.ly/2GkKTPj