Enterprise Investors injecting $300 million into new fund

Enterprise Investors' (EI) latest venture capital/private equity division, Polish Enterprise Fund IV, is to allocate $300 million in investments, the largest project ever to be undertaken by EI. The target areas of investments include telecommunications, media, technology and pharmaceutical sectors. So far EI has invested a total of $505 million in about 70 projects across the country. The largest commitments have been in the pharmaceuticals and IT areas, a web design firm and a portal. "Polish internet firms have exhibited impressive growth and for this reason, we would be focusing on that sector in our investments," said EI president Zygmunt Grajkowski. Some of the notable EI investments include $14 million for the purchase of a 51% stake in pharmaceutical firm Polfa Kutno and $15 million for a 27% stake in financial intermediary Lucas. (Puls Biznesu, page 5)