Poland’s Spire Capital Partners launches Fund I with €57M first close

Spire Capital Partners has announced the launch of its first fund – SCP Fund I, with €57 million committed for the first close, a key milestone towards the €100 million final target. The Fund will focus on software, ecommerce, and tech-enabled service companies. Among the investors are EIF, PFR Ventures, Polish Family Offices, and private investors.

• The Warsaw-based Spire Capital Partners is a mid-cap private equity investor in tech-enabled service, software, and e-commerce companies. The fund targets with positive EBITDA, market consolidation and/or international expansion potential. It will be acquiring controlling stakes, investing €7-20 million per transaction. 
• In May 2022, Spire Capital Partners has made its first investment acquiring 70% stake in Thulium, a Polish contact center software provider operating in SaaS model. The company shows 30% revenue and 60% EBITDA growth Y/Y. 
• Among the investors are:
  • European Investment Fund (within Invest EU program), the EU’s specialist vehicle for private equity, guarantees and microfinance, primarily in support of SMEs, micro- and social enterprises.
  • Polish Development Fund (PFR Ventures) that manages funds of funds and supports Polish innovative companies at various stages of development. PFR Ventures currently holds a portfolio of more than 60 funds that have made over 550 investments.
  • Polish family offices and group of Polish international private investors.

“Our recent commitment to Spire Capital Partners is another step in building a robust and diverse investment ecosystem in Poland. We are glad to support the team and their first fund in pursuing the strategy of offering an alternative to late-stage VC funding in the challenging market,”

Rozalia Urbanek, Investment Director at PFR Ventures, said.