Poland’s Radix Ventures closes €41M fund to support CEE startups

Warsaw-based VC Radix Ventures has announced the first closing of its €41 million fund. The capital came from the European Investment Fund (EIF), PFR Ventures GreenHub, and several tech angels from the CEE region.

  • Founded in 2023, Radix is a new Poland’s VC fund with three general partners — Paweł Bochniarz, Wojciech Ratymirski and Michał Urbanowski. The firm has already engaged several tech investors in Romania, Hungary, and Ukraine as venture partners, responsible for operations in the key local CEE hubs.
  • Radix’s portfolio consists of startups, including Booksy, ML System, Tresoit, Bitrise, Lerta.energy, and Noctiluca. The founders of VC have a collective 45 years of experience in technology ventures. To date, they have overseen 8 exits and made 38 investments.

The details:

The fund is supported by the European Investment Fund (EIF), a member of the European Investment Bank Group that aims to help Europe’s SMEs access financing, and PFR Ventures GreenHub, a fund of funds that invests in venture capital and private equity funds around Europe, as well as various angel investors.

This milestone marks a journey that began over four years ago, with the vision of a CEE-focused deep tech fund. Our goal is to raise at least €60 million to support 16-20 startups from all corners of CEE, investing at the late seed stage with tickets of app. €1-2 million.

Pawel Bochniarz, General Partner at Redix Ventures, commented.

Radix Ventures plans to guides 50% of the fund for follow-on investments in portfolio companies, focusing on energy, manufacturing, transport and mobility, and dual-use technologies with a positive environmental impact.