Millennials Venture Capital ASI, a Wrocław-based fund, has launched a share issue worth PLN 4,286,000 in the form of crowdfunding, the company announced. This is the first crowdfunding campaign in Poland by an alternative investment company with a venture capital strategy. The funds raised will be used to purchase shares in a minimum of 3 more portfolio companies, the company also said.
Millennials will allocate part of its resources to an innovative project in the cryptocurrency industry, to the creation of which law firms and foreign partners from Poland, Estonia, and Luxembourg were invited, it was also indicated.
Currently, the fund owns 4 portfolio companies. Shares in two of them will soon be sold after a few years of investment and acceleration of the companies. Ultimately, the fund will invest up to EUR 2 million in a portfolio company during its acceleration period, i.e. value building before the next foreign round of financing, it was emphasized.
Millennials Venture Capital is an innovative fund dedicated to 8 million Polish Millenials. It conducts investment activities using the Alternative Investment Company (ASI) license under the supervision of the Polish Financial Supervision Authority. It currently owns 4 global portfolio companies (Tespack, Robo, Bivrost, Lovely) acquired 5 years ago, and is preparing for an exit.