PFR Ventures invests €55M in four green funds
01 February, 2023, 12:01
Polish fund of funds PFR Ventures has invested €55 million in four green venture capital and growth equity funds. The investment came under the PFR GreenHub FoF program, which aims at fostering green innovation in Poland to address the climate crisis.
- 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 holds a portfolio of over 60 funds that have made over 650 investments.
- PFR GreenHub FoF is a program that supports venture capital teams that specifically aim to finance innovative climatetech projects. As part of the program, the firm signed investment deals with Contrarian Ventures, Eurazeo, General Atlantic’s BeyondNetZero fund, and Montis Capital.
“We are aiming for a diverse profile of funds in our PFR GreenHub FoF portfolio. The first four teams include local, regional, and pan-European investment firms. They differ from each other in terms of investment strategy, and especially when it comes to the stage of the company’s development. This helps us adapt to the market needs,”Małgorzata Walczak, investment director at PFR Ventures, comments.
- Contrarian Ventures is a pan-European, seed-stage climatetech VC. The fund is dedicated to closing the funding gap facing future climatetech founders and usually invests around €1.5 million to 4 million, often as a first cheque investor. The team has already backed 22 startups in 8 countries.
- Eurazeo focuses on high-growth, innovative companies fostering the transition towards more livable and sustainable cities. It has a diversified portfolio of €32.4 billion euro in assets under management and has invested in 530 companies.
- General Atlantic is a leading global growth investor and a pioneer of the growth equity space, with more than 40 years of investment experience and $73 billion in assets under management. Its fund BeyondNetZero invests in growth companies delivering innovative climate solutions.
- Montis Capital is a Polish venture capital firm that has been successfully supporting the Polish ecosystem for almost 5 years. It focuses on financing hardware and software, deeptech, and climate tech. With €30 million under management, it has already backed 10 companies.
Previously in October 2022, PFR invested €50 million in two other international VC funds — Lakestar and Northzone.