Future Tech Poland: another investment by BGK and EFI

Bank Gospodarstwa Krajowego (BGK) and the European Investment Fund (EFI) have invested 30 million euros (approx. 129 million PLN) in a venture capital fund managed by Inovo.vc. This is already the fourth fund in which both institutions have invested as part of their joint initiative - Future Tech Poland (FTP). To date, FTP has already allocated nearly 580 mln zł.

Inovo.vc is a Polish investment team that supports technology companies in the early stages of development. Future Tech Poland’s investment in Inovo.vc aligns with its mission to support domestic VC funds that invest in innovative companies with high growth potential. The value of FTP’s investment in Inovo.vc is 30 million euros, or approximately 129 million PLN. To date, FTP has allocated 134 million euros, or approximately 580 million PLN.

Progress on schedule

The investment in a fund managed by Inovo.vc marks the fourth transaction under the Future Tech Poland programme, which is one of the pillars of the Innovate Poland initiative. It also represents another step in the implementation of BGK’s investment strategy. Our goal is to systematically build Poland’s competitiveness and consistently strengthen the domestic VC ecosystem, ensuring that institutional capital flows to the most innovative companies. By the end of the year, we plan to have allocated over 40 percent of the total Future Tech Poland funds.

Jarosław Dąbrowski, member of the BGK Management Board

Future Tech Poland was created to bolster the development of Polish innovation by scaling up and deepening the local venture capital market. Our investment in Inovo aligns with this goal by supporting a proven team that helps ambitious tech companies grow from the early stages of their operations and create solutions with the potential to compete in European and global markets.

Marjut Falkstedt, CEO of the European Investment Fund

Since 2014, Inovo.vc has been investing in the most ambitious founders building technology companies at the earliest stages of development in Poland and Central and Easteran Europe - during this time, we have already supported over 70 teams. We believe that the next generation of global technology leaders will emerge from Poland and the region. Our role is to be their first institutional partner and support them on their journey to becoming global leaders in their respective fields. We are delighted to be carrying out this mission together with BGK and EFI as part of Future Tech Poland - their commitment makes a real difference to the development of this market in Poland.

Tomasz Swieboda, Managing Partner, Inovo.vc

Goal: strengthening the Polish ecosystem

Future Tech Poland is a joint initiative of BGK and EFI and one of the pillars of the Innovate Poland programme. FTP operates as a fund of funds managed by EFI. BGK’s contribution to the initiative amounts to 1 billion PLN, while EFI’s contribution is 500 million PLN. FTP’s goal is to strengthen the Polish VC fund ecosystem and stimulate investment in Polish companies. FTP’s capital thus supports the development of innovation in areas such as artificial intelligence, fintech, cybersecurity, dual-use technologies, and defense.

Bank Gospodarstwa Krajowego (BGK) is a Polish development bank that supports Poland’s sustainable socio-economic development. It implements strategic infrastructure projects and supports innovation and the growth of Polish companies both domestically and abroad. The bank collaborates with the EIF on equity investments, including through the Polish Growth Fund of Funds (“PGFF”) and the Three Seas Initiative Innovation Fund, which carries on the PGFF’s mission.

The European Investment Fund (EIF) is part of the European Investment Bank Group. It supports small and medium-sized enterprises and startups across Europe by helping them secure financing. The EIF provides guarantees and invests in funds that subsequently support the growth of businesses. As an investor promoting market development, the EIF collaborates with banks and investment funds. In this way, it encourages private investors to commit capital and supports the growth of the European venture capital market, which finances innovative companies. To date, the EIF has invested 8 billion euros in Poland. As a result, Polish companies have received support totaling approximately 25.8 billion euros. More than 119,000 small and medium-sized enterprises have benefited from this support.