PFR Ventures invests €50M in two international VC funds

The Polish-based investment manager company PFR Ventures has invested €50 million in two international VC funds – Lakestar and Northzone, the company informed AIN.Capital. In addition to PFR’s contribution, the combined value of investments to those funds will reach €100 million, which will support Polish startups.

• Founded in 2014 by Maciej Cwikiewicz, PFR Ventures manages fund of funds, which together with private investors, business angels and corporations, invests in venture capital and private equity funds. Currently, PFR Ventures manages around €1 billion and holds a portfolio of more than 60 funds that have made over 550 investments.

“Polish innovative ecosystem has already caught its momentum, with companies raising EUR 792 million in 2021. With almost EUR 450 million raised in the first half of 2022, the Polish market shows resilience to the economic downturn in Western Europe and the US. We are continuing the strategy of bringing the best international venture capital investors to Poland,”

Maciej Ćwikiewicz, President of PFR Ventures, comments.

• Lakestar is a 10-year-old European seed, early, and growth-stage fund. Its team has already backed over 130 companies, including unicorns like Blockchain, Sennder, Glovo, Revolut, and Spotify. Northzone has made over 175 seed to Series B investments across Europe and the US. Its portfolio includes unicorns like Hopin, Klarna, Spotify, and TIER Mobility.
• Lakestar and Northzonew will use the fresh funds to support Polish startups in their further development and geographical expansion.
• Both funds have already made their first moves in the Polish market. Lakestar has backed Uncapped in 2021. Northzone has led the 2022 Series A of Stonly, a Polish-French startup.