PFR TFI zarządza dwoma wyspecjalizowanymi funduszami ekspansji zagranicznej - Funduszem Ekspansji Zagranicznej FIZ AN oraz Funduszem Ekspansji Zagranicznej 2 FIZ AN, które współfinansują inwestycje zagraniczne polskich przedsiębiorstw. Pierwszy z nich zakończył okres inwestycyjny w 2023 r., drugi - w tym samym roku rozpoczął działalność i kontynuuje realizację zagranicznych inwestycji wspólnie z polskimi firmami („Fundusz”, „FEZ”).
Rolą FEZ jest ułatwianie ekspansji inwestycyjnej polskich firm na rynki zagraniczne. Fundusz może dzielić ryzyko z polskimi przedsiębiorcami podejmującymi wyzwanie inwestycji zagranicznych i dostarcza finansowanie equity lub dłużne, zwiększając siłę polskich firm na rynku międzynarodowym.
Realizacja inwestycji zagranicznych otwiera szereg możliwości przed spółkami, które korzystają z finansowania udzielonego przez Fundusz. To przede wszystkim szansa na przyspieszenie rozwoju i otwarcie firmy na rynki międzynarodowe m.in. poprzez:
Increase in sales and higher margins
Acquisition of a commercial brand or know-how
Creation of an own brand and sale of products directly to the target client
Creation of an own brand and sale of products directly to the target client
Acquisition of sub-suppliers and recruitment of employees
Acquisition of a commercial brand or know-how
The Polish International Development Fund supports the expansion of Polish companies into foreign markets. Together with Polish companies it co-invests in foreign projects, foreign subsidiaries (greenfield and brownfield projects), offering long-term, stable debt and equity financing.
The fund is always a minority investor, with lower share than the Polish partner. The fund does not interfere in project management as it is the obligation of the partner.
Intensive international cooperation allows us to consolidate our corporate social responsibility standards.
In its investment activities, the Polish International Development Fund takes into account the principles of sustainable development in three main areas: environmental, social and corporate governance.
The social responsibility policy of the Polish International Development Fund is based on the principles of sustainable development as defined by the United Nations in The 10 Principles of the UN Global Compact.
When embarking on a new investment project, the fund always works with its Polish partner to identify and characterise socially sensitive areas and define key stakeholder groups. A corporate social responsibility strategy is implemented and developed for each project company.
The Fund bears the risk of the foreign investment in proportion to its equity or debt involvement - it shares the business and credit risks of the foreign expansion with the Polish company. The fund does not expect direct recourse to the balance sheet of the partner in Poland or collateral on Polish assets. The fund is a long-term investor - the investment agreement is usually concluded for a period between 5 and 10 years.
A typical investment of the fund is between 5 million and 12.5 million euros. In the case of smaller projects, we adjust the financing conditions to the needs of a particular investment. The fund has virtually no sectoral or geographical restrictions.
The fund offers financing in two forms: debt - secured by the assets of a foreign project or unsecured, subordinated, converted (mezzanine financing/structured equity) or acquisition of shares with the possibility of their repurchase by the Polish partner at market value or under other predetermined conditions.
The fund can be a financial partner in: the acquisition of an existing foreign company, the creation of a new subsidiary and its organic development or the financing of the next stage of expansion.
Each investment process is gradual and consists of evaluating the investment project, understanding the operating model, getting to know the Polish company and then obtaining the required corporate approvals and negotiating the investment agreement. At the Polish International Development Fund we approach each investment individually, adjusting the schedule and action plan to the specific project. However, we can usually distinguish several stages of cooperation with a Polish partner.
The first step includes information about the project provided by the Polish company. This is usually done during a meeting, by phone or e-mail. At this stage, we conclude a non-disclosure agreement and discuss the preliminary concept of the investment project with the interested party.
Once we have obtained the necessary information, we are ready to start the project evaluation phase, which usually takes between 1 and 2 months. Project evaluation takes place in two stages. First, we evaluate the experience and competencies of the potential partner, examine the company’s financial statements, ownership structure and analyse the concept and scope of the planned investment. All of this is done in order to estimate its business opportunities. After initial approval by the investment committee, further documents are prepared, including a full business plan, market analyses and financial projections. At this stage we also verify the investment’s compliance with the fund’s social responsibility policy.
When we reach an agreement with the partner on the basic assumptions of the project, we begin to prepare an investment agreement.
The last stage involves operational cooperation during project implementation. The investment horizon usually lasts from 5 to 10 years. During this time, the fund supports the Polish partner by serving on the supervisory board of the foreign company and monitors the implementation of the investment assumptions. The fund finishes its participation in the project under the conditions of the investment agreement, by the repurchase of shares by the Polish partner or redemption of shares in the foreign company. There is also a possibility of granting additional financing in case of a desire to further develop the investment. The length of the investment process depends on factors such as the complexity of the investment, advancement of the project and negotiations with partners.
Each investment process is gradual and consists of evaluating the investment project, understanding the operating model, getting to know the Polish company and then obtaining the required corporate approvals and negotiating the investment agreement. At the Polish International Development Fund we approach each investment individually, adjusting the schedule and action plan to the specific project. However, we can usually distinguish several stages of cooperation with a Polish partner.
The first step includes information about the project provided by the Polish company. This is usually done during a meeting, by phone or e-mail. At this stage, we conclude a non-disclosure agreement and discuss the preliminary concept of the investment project with the interested party.
Once we have obtained the necessary information, we are ready to start the project evaluation phase, which usually takes between 1 and 2 months. Project evaluation takes place in two stages. First, we evaluate the experience and competencies of the potential partner, examine the company’s financial statements, ownership structure and analyse the concept and scope of the planned investment. All of this is done in order to estimate its business opportunities. After initial approval by the investment committee, further documents are prepared, including a full business plan, market analyses and financial projections. At this stage we also verify the investment’s compliance with the fund’s social responsibility policy.
When we reach an agreement with the partner on the basic assumptions of the project, we begin to prepare an investment agreement.
The last stage involves operational cooperation during project implementation. The investment horizon usually lasts from 5 to 10 years. During this time, the fund supports the Polish partner by serving on the supervisory board of the foreign company and monitors the implementation of the investment assumptions. The fund finishes its participation in the project under the conditions of the investment agreement, by the repurchase of shares by the Polish partner or redemption of shares in the foreign company. There is also a possibility of granting additional financing in case of a desire to further develop the investment. The length of the investment process depends on factors such as the complexity of the investment, advancement of the project and negotiations with partners.
Intensive international cooperation allows us to consolidate our corporate social responsibility standards.
In its investment activities, the Polish International Development Fund takes into account the principles of sustainable development in three main areas: environmental, social and corporate governance.
The social responsibility policy of the Polish International Development Fund is based on the principles of sustainable development as defined by the United Nations in The 10 Principles of the UN Global Compact.
When embarking on a new investment project, the fund always works with its Polish partner to identify and characterise socially sensitive areas and define key stakeholder groups. A corporate social responsibility strategy is implemented and developed for each project company.
Respect for human rights
Counteracting corruption
Respect for labour rights
Counteracting climate change
The fund’s social responsibility policy is in line with PFR TFI’s strategy of incorporating risks for sustainable development into its operations when making investment decisions. For more information on PFR TFI’s involvement in sustainable development, please see the Sustainable investing tab.
People are the basis for the success of every project. The Polish International Development Fund team consists of experts in the field of foreign investment with many years of experience in the process of international equity and debt transactions. Its members have extensive knowledge and experience in working in various sectors of the economy, so they are prepared to lead a variety of investment projects. Moreover, they are driven by energy, passion and commitment in their work.
