The PFR CVC programme is a Fund of Funds that will allocate PLN 370 million for investment in independent CVC funds. An additional PLN 250 million will be added to this budget by corporations. It is the first and only Polish and one of the few Funds of Funds in Europe providing financing in the CVC segment.
PFR CVC is the first Polish fund of funds dedicated to corporations which wish to invest in innovations with the help of professional and independent management teams.
PFR CVC enables the establishment of funds in which corporations are also involved as capital contributors. The corporation then joins the fund directly and participates in each of its investments.
The maximum PFR CVC investment in a single CVC fund amounts to PLN 110 million (up to 60% of the fund's capitalisation).
⚠️ Please note that we made the following changes to the CVC program in May 2026:
- Increase of the investment limit in companies domiciled outside Poland from 15% to 40%, subject to additional conditions being met, along with an expansion of the list of eligible countries
- Removal of size requirements for companies acting as corporate investors
- Discontinuation of the co-investment model
- Discontinuation of the option to issue a Letter of Intent to the Applicant, i.e. a return to the requirement for private/corporate investors to submit declarations of capital commitment to the fund
- Expansion of the management fee calculation model during the investment period to include a variable component
- Shortening of the investment period from 5 to 4 years, with the possibility of a one-year extension
