PFR Ventures has invested approximately PLN 250 million in venture capital and growth equity funds – Contrarian Ventures, Eurazeo, BeyondNetZero (managed by General Atlantic) and Polish Montis Capital, the company said. All funds implement the so-called green strategies that assume investments in projects related to climate challenges and energy transformation.
PFR Green Hub is one of the strategic programs of the Polish Development Fund (PFR). Its goal is to support Poland’s energy transformation. PFR Green Hub FoF is an element of this program, a fund of funds that focuses on investments in venture capital and growth equity teams interested in financing innovative ClimateTech projects. The program is managed by PFR Ventures, which joins the funds as a Limited Partner.
“We have created a program unique in the European Union, which aims to stimulate investment in innovative, green projects. The energy transition is not only about large investments in infrastructure. Every innovative product or service that brings us closer to reducing emissions is worth its weight in gold. (…),” said Bartłomiej Pawlak, Vice-President of PFR, quoted in the release.
Following the first investments, PFR Ventures is planning a market study, on the basis of which it will decide on the further allocation of capital in the implementation of the ClimateTech strategy and the continuation of the program.
“We wanted a diversified profile of funds. We have invested in local, regional, European and global teams. Each of them presents a different investment strategy and supports companies at a different stage of development. In this way, we adapt to market needs. (…),” added Małgorzata Walczak, Investment Director at PFR Ventures.
PFR Ventures is a fund of funds management company that, together with private investors, business angels and corporations, invests in Venture Capital and Private Equity funds. The goal of PFR Ventures is to provide this capital to Polish, innovative enterprises at various stages of development. PFR Ventures currently has over 60 funds in its portfolio, which have made over 650 investments.