PFR Ventures is expanding the PFR Private Equity program. More than PLN 500 million is added to the already invested nearly PLN 600 million. In total, PFR Ventures will allocate over PLN 1.1 billion to investments in local and international teams managing private equity funds. The first investment has already been made from the new pool of funds.
PFR Private Equity (PFR PE) is a program aimed at financing local teams managing private equity funds and providing Poland with appropriate exposure in foreign funds as a domestic institutional investor. So far, PFR PE has allocated nearly PLN 600 million in 3 local and 4 foreign PE funds. Due to the continued interest in funds, PFR Ventures increased the capitalization of the program to over PLN 1.1 billion. All funds come from the budget of the Polish Development Fund.
“We see interest among local funds and many investment opportunities on the international market, which is why we decided to increase our involvement in the PFR Private Equity program” – says Paweł Borys, president of the Polish Development Fund.
The recapitalization of the PFR Private Equity program took place before the holiday season. During this time, the PFR Ventures team managed to sign the first contract based on additional funds. PLN 36 million went to Syntaxis New Europe Fund III. The team, present on the market since 2006, invests in fast-growing companies in Central and Eastern Europe, usually through long-term non-amortized debt instruments, the return of which is partly dependent on the appreciation of the companies financed. In its strategy, Syntaxis assumes that 2/3 of the investments will be made in Poland.