PFR Starter FIZ

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The PFR Starter FIZ offer is addressed to companies at an early stage of development – in particular to those entities which plan to develop their activities on the basis of innovative solutions.

What does the fund do?

The fund was created within the POIR PFR programme (Smart Growth Operational Programme). The fund has a total of PLN 782 million available. The financing is managed in cooperation with financial intermediaries selected under tender procedures (e.g. venture capital funds), which support the financing of a company also by their experience and contacts, due to which the financed companies obtain greater opportunities for commercial success.

Who may benefit from the Fund?

  • New innovative companies

  • Private investors

PFR TFI S.A. 
ul. Krucza 50  |  00-025 Warszawa

 

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What purposes or projects are implemented by the fund?

1  

Searching on the domestic market for young innovative enterprises which need capital for further development.

2  

Investing in promising entities which have not yet started their activities.

3  

Commitment of Financial Intermediaries and Private Investors in increasing the innovativeness of companies.

How does the financing by the PFR Starter FIZ function?

The fund may grant a single company two types of financing:

  • First investment in a company – up to PLN 1 million

  • Possibility of continuing the investment in the company – up to PLN 3 million of the total commitment

Area of operation:

The fund offers support for companies with their registered office or branch in Poland – provided that they plan the development of their activities in Poland, irrespective of plans of development on an international scale. The company’s registered office may be located in the EU, EEA or EFTA region.

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Investment period:

The fund implements the investment for 8 years: 4 years form the investment period and the next 4 years form the stage of the fund’s exit from the investment. The period of each stage may be extended by 2 years.

How does the investment process in PFR Starter FIZ function?

  • The PFR Starter FIZ chooses, in an open and competitive process, the Financial Intermediaries, i.e. venture capital funds. Then it transfers resources to them.

  • An Intermediary may receive PLN 20 to 50 million.

  • The Fund’s investment may constitute up to 80% of the venture capital fund’s capitalisation, and the remaining at least 20% must be contributed by private investors and the team managing the fund (the Financial Intermediary).

  • Private investors, the PFR Starter FIZ and the Management Team sign a trilateral investment agreement.

  • The team managing the venture capital fund looks for innovative enterprises and assesses their business plans. Then it decides which entities will receive the resources and what amount will be granted. The best chances of receiving financing are those companies at the earliest stage of development, which will receive up to 70% of the PFR Starter FIZ investment.

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What needs to be done to become a Financial Intermediary?

In each case, PFR Ventures Sp. z o.o. managing the PFR Starter FIZ announces a call for the programme on the fund’s website.

The call process consists of specific stages:

  • Preparation and submission by interested entities of applications in the call process. 

  • Assessment of applications submitted and selection by the Investment Committee of PFR Ventures Sp. z o.o. of the best entities, which will be analysed further.

  • Detailed examination, which includes direct meetings.

  • Selection of Financial Intermediaries.

PFR Starter FIZ in short:

Fund type:

Fund of Funds

Capital entries:

First investment in a company: up to PLN 2 million

Possibility of continuation of the investment: up to PLN 4 million

Proportion of financing: max. 80% of PFR Starter FIZ resources, min. 20% - private resources

Available resources:

PLN 782 million

Investment period:

8 years (with the possibility of the extension by a maximum of 4 years)

Fund profile:

Financing of innovative companies at the earliest stage of development through financial intermediaries (venture capital funds)

Investment process:

Open selection of investment entities carried out by PFR Ventures

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IMPORTANT INFORMATION

More information about the PFR Starter FIZ is available on the website: PFR Ventures

Management of the fund
Record of Investment Funds

RFI 1437

Abbreviated name of the fund

PFR Starter FIZ

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