betacluster Ventures, Cofounder VC, Stelo Ventures, and VO2 Ventures are four Polish VC funds that received a total of 196M PLN in support from PFR Ventures. The funds were granted under the FENG program.
PFR Ventures has announced the latest allocation of funds under the European Funds for a Modern Economy (FENG) program. Through this, 196M PLN has bolstered four Polish venture capital funds: betacluster Ventures, Cofounder VC, Stelo Ventures, and VO2 Ventures. The funds will have a total combined budget of nearly 260M PLN.
Polish VC funds supported by PFR Ventures
betacluster Ventures is a team led by experienced investors and operators from Wrocław, Kraków, and Berlin. The entity announces investments in early-stage Polish companies. It intends to focus on projects involving data and AI (Smart Data Economy). PFR Ventures’ contribution to its budget amounted to 46.3M PLN.
29.1M PLN is the amount allocated to the Cofounder VC fund. The entity’s objective is to invest in technology projects that have a market-verified product, generate growing revenues, and pursue an ambitious development path. The initiative also offers support from an experienced investment team, partners, and business angels.
Stelo Ventures, with support amounting to 55.4M PLN, intends to make up to 20 seed-stage investments. The commitment to a single project ranges from 3 to 5M PLN. The fund will focus on companies with the potential to exceed 100M PLN in revenue in the Polish market and expand within the CEE region.
VO2 Ventures plans to assist startups operating in markets with global absorption. In addition to 65M PLN in support from PFR Ventures and other funds, the fund’s partners offer assistance in scaling businesses and broad access to a network of growth funds.
„Nearly 260M PLN in new capital will reach funds investing in Polish companies. This is the best proof of how European funds can support development. On one hand, they enable companies to grow through professional financing, and on the other, they strengthen the capital market by building new investment teams and mobilizing private capital. This solution tangibly raises the quality of innovation financing in Poland,” said Mikołaj Raczyński, Vice President of the Polish Development Fund.
