Nearly PLN 600 million invested by VC funds in Q3, as Series A rounds grow

PFR Ventures and Inovo Venture Partners have prepared a quarterly report summarizing transactions on the Polish venture capital (VC) market. The data show that from August to September 2021, 110 transactions were carried out in which 105 funds were involved. The average value of Series A rounds in recent years has exceeded PLN 17 million.

In the third quarter of 2021, PLN 582 million passed through the Polish VC market. This is the total value of capital that Polish and foreign funds have invested in domestic innovative enterprises. It also means that in the first three quarters, Polish startups obtained a total of PLN 1.76 billion from investors – thus, in 9 months they managed to exceed the result for the entire 2019 by 40 percent.

Excluding above-standard transactions (outliers), the third quarter of 2021 is still one of the strongest periods that could be observed on the Polish venture capital market. In terms of the value of invested capital, it ranks second between Q2 2021 (PLN +53 million compared to Q3 2021) and Q4 2020 (PLN -159 million compared to Q3 2021).

“The third quarter was marked by an increase in financing at the stage of A rounds. This is a very positive trend, which we hope will continue in the coming months. A single company can obtain up to PLN 50-100m at this stage. (…)” – says Aleksander Mokrzycki, vice president at PFR Ventures.


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