PFR Ventures invests in Radix Ventures

PFR Ventures has committed EUR 10 million to the Polish VC fund Radix Ventures, joining the European Investment Fund (EIF) in a first close. This marks the sixth investment under the PFR Green Hub FoF program. Radix Ventures aims to invest in deep tech companies that support green transformation initiatives in Poland and other countries across the Central and Eastern European (CEE) region.

Radix Ventures is a fund founded by a team of seasoned technology entrepreneurs and investors, headed by Paweł Bochniarz, Wojciech Ratymirski and Michał Urbanowski. Prior to Radix Ventures, they successfully managed Valuetech Seed, a fund dedicated to supporting early-stage deep tech companies. Their notable investments include backing NewConnect-listed Noctiluca and facilitating Photon Energy Group's acquisition of Lerta Energy in 2022.

PFR Ventures is committing EUR 10 million to Radix Ventures as part of its initial close, partnering with the European Investment Fund, which contributes EUR 25 million. Radix Ventures intends to focus its investments primarily within the Polish market, while also collaborating with venture partners in Romania, Ukraine, and Hungary. The fund aims for a total capitalization of EUR 60 million, intending to make 16-20 investments with initial ticket sizes ranging from EUR 1.5 to 3 million.

Radix Ventures adds to our diverse portfolio of green investment funds from Poland and Europe. The fund’s partners bring valuable experience in identifying and nurturing innovative deep-tech companies with significant potential, particularly those developing solutions for the industry. We are confident that their industry knowledge and track record in supporting startups from seed to growth stages will accelerate the advancement of green innovation in Poland

says Małgorzata Walczak, Investment Director of PFR Ventures.

The investment and trust from the PFR Green Hub team hold immense significance for us. As the first fund of its kind within the European Union dedicated to green technology investments, PFR Green Hub aligns perfectly with our strategic vision. Alongside the European Investment Fund, it is poised to become the second-largest investor in Radix Ventures. Collaborating with PFR Green Hub enables us to provide investment support to the most technologically advanced startups from Poland at the late seed stage, addressing the funding gap they have faced thus far

comments Paweł Bochniarz, Managing Partner of Radix Ventures.

The investment in Radix Ventures is being made as part of the PFR GreenHub FoF, which stands as the inaugural green fund of funds within the European Union, established in May 2021. This pioneering program is designed to bolster venture capital and growth equity teams committed to financing innovative greentech projects.

Radix Ventures marks the fifth investment in a Polish venture capital team announced by PFR Ventures in 2024. Each of these investments has been facilitated with funds from the Polish Development Fund, with negotiations with management teams spanning over the past 12 months. In the upcoming months, additional calls will be launched for EU-funded programs, such as the European Funds for the Modern Economy. Leveraging these funds, PFR Ventures aims to make approximately 40 investments in VC funds.