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16 entries.
Borubar Ventures is the personal investment vehicle of SALESmanago founder Grzegorz Błażewicz, launched after his majority-stake transaction with Silver Lake Waterman. The fund focuses on B2B SaaS, marketing technology, and AI-driven analytics startups across Central and Eastern Europe, with operator-led support drawing on the SALESmanago scale-up playbook.
Catch the Tornado is a Wrocław-based venture builder and investment firm founded by Divante alumni Piotr Karwatka and Tomasz Karwatka after Divante's exit. The firm builds and backs open-source, composable-commerce, and AI-first companies with hands-on operator support. Portfolio and venture-build references include Alokai (formerly Vue Storefront), Ramp Network, and Rigby.
Cogito Capital Partners is a Warsaw- and New York-based growth-stage venture firm founded in 2019 by Sylwester Janik (formerly a senior partner at MCI Capital) and Martin Jasinski. It backs later- and early-growth-stage B2B technology companies with Central and Eastern European roots that are scaling globally, with a particular emphasis on US expansion, addressing the Series B+ equity gap for European scale-ups (typically €5–10M+ ARR) across enterprise software, fintech and healthtech. Cogito has raised two funds: Cogito Fund I (2019, ~€61M, anchored by the EIF and PFR) and Cogito Fund II (target €125M, first close €90M+ in 2024, with EBRD, IFC and BGK among LPs), writing cheques of €5–15M. Its portfolio spans companies including Preply (language-learning unicorn), Allica Bank (UK SME-bank unicorn), Katana (Estonian cloud ERP, Series B led by Cogito), Nomagic, Finom and Alcatraz AI. Fund I also produced a landmark exit when Applica.AI was acquired by Snowflake in 2022.
Hard2beat is a Wrocław-based pre-seed and seed venture fund founded in 2024 by Maciej Zawadziński — a serial entrepreneur with three exits including Piwik PRO (sold to Kirk Kapital in 2023) — alongside Maciej Frankowicz and Konrad Trzyna, who previously ran Shape VC's BRIdge Alpha programme. The fund closed at 84M PLN (~€20M), with PFR Ventures providing 56.5M PLN under the FENG programme and 30 private investors contributing the rest. Hard2beat backs Polish deep-tech founders from pre-revenue to early revenue with 1–3M PLN initial cheques and follow-on up to 8M PLN, targeting teams with a genuine technical moat in cybersecurity, medtech, biotech, devtools, dual-use/defence, gamedev, robotics and spacetech — explicitly avoiding B2C and shallow AI. By mid-2026 it had made seven investments including the open-source cybersecurity platform Defguard, autonomous UAV startup DefendEye, Alzheimer's wearable developer Neuromedical, neuroprotection biotech Pikralida, Unreal Engine AI copilot Ludus AI, and devtools company Graftcode (€2.1M, led with DigitalOcean Ventures, 2026).
An early-stage “angel fund” that invests in tech and communication startups, specializing in marketplaces, e-commerce, B2B, and IoT. It operates like an angel syndicate, with a portfolio including companies like Allani, Evenea, and Preply. Notable focus: seed-stage online platforms – Hedgehog provides capital plus hands-on involvement to spur growth (many of its investments later raised VC funding).
Inovo Venture Partners is Warsaw-based and one of Poland's leading seed-stage venture firms, backing technology founders from Central and Eastern Europe building for global markets. Founded in 2014 with a €8M Fund I, Inovo has scaled to roughly €167M across three funds: Fund II (€54M, 2021) and Fund III (€105M, 2023), the latter backed by IFC, the European Investment Fund and PFR Ventures alongside private LPs including InPost founder Rafał Brzoska and Snowflake co-founder Marcin Żukowski. The firm writes €0.5–4M initial tickets at pre-seed and seed, with follow-on capacity up to €10M. Inovo concentrates around 60% of each fund in Poland and the remainder across CEE — with investments in Croatia, Lithuania, Serbia, Ukraine, Slovakia and Romania — and opened a Balkans hub in Skopje in 2024. It is generalist within technology but has particular conviction in AI, developer tools, digital health, SaaS and B2B software. The portfolio spans more than 55 companies, including Booksy, Tidio, Spacelift, Infermedica, Preply, Packhelp and AI Clearing. Notable outcomes include the Warsaw Stock Exchange IPOs of Brand24 and ECC Games and the acquisition of SplxAI by Zscaler in 2025, one of the largest CEE AI exits to date.
Manta Ray VC is the technology venture arm of Kulczyk Investments, founded by Sebastian Kulczyk to back globally scalable Polish-rooted startups. The fund invests in growth-stage technology companies and has been associated with high-visibility outcomes such as ICEYE (SAR satellites) and Iceye-affiliated deep-tech bets. It complements the broader Kulczyk Investments ecosystem and the InCredibles founder programme.
MCI Capital is a Warsaw-listed digital private equity and growth investor and one of the largest mid-market technology PE groups in Central and Eastern Europe. Founded in 1999 by Tomasz Czechowicz and listed on the Warsaw Stock Exchange (ticker: MCI), the firm manages roughly €650M (PLN 2.7bn) in assets, deployed through two evergreen funds — MCI.EuroVentures and MCI.TechVentures, both launched in 2008. MCI targets expansion and buyout transactions of €25–100M, taking majority or significant stakes in two to three companies a year across SaaS, e-commerce and marketplaces, fintech, insurtech, foodtech, traveltech and digital infrastructure. Geographically the firm concentrates on Poland and the wider CEE region — including Hungary, the Czech Republic, Austria, Slovakia and Lithuania — with selective reach into Western Europe. Since inception MCI has completed over 110 investments and more than 90 divestments, delivering landmark exits including iZettle (sold to PayPal for $2.2bn in 2018), Dotpay/eCard (Nets/Nexi, 2019), Azimo (Papaya Global, 2022) and a partial exit from Answear.com in 2025. Its listed structure, backed by institutional shareholders including the Nationale-Nederlanden pension fund, gives MCI permanent-capital characteristics rare among European mid-market PE peers.
Warsaw-based multi-stage venture capital firm backing Central and Eastern European tech founders with global ambitions. Movens Capital runs a €60M Fund 2 (launched 2025) and writes first checks of €250k–€3M at pre-seed through Series A+. Focus areas: fintech, edtech, healthtech, deep tech, climate tech, enterprise software, and e-commerce enablement across Poland, the Baltics, the Balkans, Czechia, Slovakia, Hungary, Romania, Ukraine, and Moldova. Founded in 2018 by Artur Banach and Michał Olszewski. Fund LPs include the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and 80+ tech founders, operators, and family offices. Notable exits include MEDICAlgorithmics (IPO) and Fenige.
PFR Ventures is the venture capital arm of the Polish Development Fund (Polski Fundusz Rozwoju), wholly owned by the Polish state, established in 2014 and based in Warsaw. The firm operates as the largest fund-of-funds manager in the Central and Eastern Europe region, managing over PLN 3 billion in assets across 80+ private VC funds that have collectively supported more than 900 startup investments. PFR Ventures co-invests alongside private LPs to leverage EU structural funds and catalyse private capital into the Polish venture ecosystem, backing early-stage through growth-stage funds in sectors including deep tech, SaaS, fintech, and life sciences. Its Innovate Poland programme launched in November 2025 with at least PLN 4 billion earmarked for the next investment cycle.
A venture fund + angel network based in Szczecin, Pomerangels invests alongside business angels and syndicates in post-revenue companies. With a network of 100+ angels, they co-invest up to €4M in innovative SMEs across ICT, autonomous tech, biotech, etc. Notable focus: companies that already have strong angel syndicates; Pomerangels adds capital on top of angel rounds to scale these ventures.
Pracuj Ventures is the venture arm associated with Grupa Pracuj co-founder Maciej Noga, focused on HR-tech, marketplace, and B2B software businesses across Europe. The fund leverages the broader Grupa Pracuj ecosystem for deal flow and operator support, and has backed 40+ companies including Symmetrical.ai, Jutro Medical, and SonarHome.
Early-stage angel fund led by Bartek Pucek, focused on globally scalable technology startups. The fund is known for founder-friendly terms, fast decision cycles, and co-investments with international VC firms.
Tangent Line is a Warsaw-based venture capital firm that provides capital and hands-on business partnership to breakthrough industrial and deep-technology startups. Acting as a contact point between founders and investors, it backs companies with global ambitions and defensible technology from seed through expansion over a long-term horizon.
A €18M debut seed-stage venture fund launched in 2025 and backed by the Polish Development Fund, focused on B2B software, AI and techbio. Co-founded by Aleksandra Pedraszewska (an early ElevenLabs employee), Karolina Kukielka and Zuzanna Brzosko, it invests €500K–€750K in Polish founders building globally.
Warsaw Equity Group (WEG) is a Warsaw-based investment group that backs growth-stage technology companies in Central and Eastern Europe, with a focus on B2B software, logistics and industrial technology. It invests as an active, long-term partner supporting portfolio companies' regional and international expansion.