New Venture Capital fund by PZU and NCBR

Poland's largest insurer PZU, along with the National Centre for Research and Development (NCBR) and Poland's Ministry of Science and Higher Education (MNiSW), are establishing a non-public closed-end investment fund "Witelo Fund," aimed at creating a venture capital-friendly (VC) ecosystem in Poland to enable an implementation of innovative projects. "We intend to popularise all the advantages of the domestic market, along with the co-investment possibilities for Polish companies. Our ambition is that Poland becomes an international hub for VC start-ups in Europe. We want the leading VC funds to implement their projects right here," proclaimed Paweł Surówka, President of PZU Życie.