Erste Group, Bank Pekao S.A., and PKO Bank Polski are joining the Innovate Poland program. The three banks will commit a combined PLN 500 million to private equity, private debt, and venture capital funds. The capital is expected to mobilize PLN 1 billion for innovative Polish companies.
Funding structure
The new partners join the Polish Development Fund, BGK, and PZU. Their commitment brings the fund of funds to nearly PLN 3 billion. The broader program budget now exceeds PLN 4.5 billion.
Accredited funds
Six fund managers have received accreditation. They are AMC, Avallon, Cogito Capital Partners, Innova, Inovo.vc, and MidEuropa. The managers have backed companies such as Inglot, Nomagic, and OSHEE.
Allocation plan
Innovate PL FoF will allocate 60% of its portfolio to private equity. Private debt and venture capital each receive 20%. This mix supports companies from early stage through expansion.
Fund managers can still apply for accreditation. PFR Ventures is reviewing a further 40 proposals. It is also holding talks with institutions interested in joining the program.