Innova Capital reveals plans to create new financial-sector fund Innova

"Our average rate of return [excluding the latest sale of its stake in Polcard] amounts to 2.6 times the investment," said Krzysztof Kulig, a partner at Innova Capital who is responsible for investments in the finance and internet sectors. The remaining sum, which is over euro 40 million, will be invested in a new fund, called Innova IV. "It will specialize in investments in financial institutions, but also in sectors which are outsourced by these institutions, like companies maintaining IT networks for banks or providing security services for financial sector corporations," added Kulig. He also revealed that the company is already in negotiations over an investment in one financial institution. Although the name was not disclosed, the transaction should be closed within three months. (Puls Biznesu, pp. 1, 13) A.K.