ARP establishes venture capital fund

The Industrial Development Agency (ARP) has set up its first venture capital fund with capital supplied by the State Treasury, said Piotr Krzyżewski, CEO of ARP Venture. ARP Venture wants to invest in innovative projects carried out by small and medium sized companies. "We are the first state-owned company on the Polish market to invest in high-risk projects," said Krzyżewski at the 7th European Economic Congress in Katowice. He also added that "in order to reduce the fear of taking a risk, an entrepreneur must be able to receive support at every stage of the implementation of innovative projects. This can be done through the cooperation between seed funds, R&D funds and venture capital funds. This way, we will create an efficient and transparent funding path."