PLN 2.2 bln for start-ups, three quarters better than all of 2024
After years of stagnation, Poland’s venture capital (VC) market is rebounding, largely thanks to funds supported by PFR Ventures under the FENG program. In the first three quarters of 2025, VC funds invested PLN 2.2 billion, already surpassing last year’s total, according to a report by PFR Ventures and Inovo.vc. Experts expect a strong Q4, potentially pushing total investments toward PLN 3 billion, though achieving this requires more early-stage and large-scale “megaround” deals.
The report recorded six investments at later stages of company development. The largest closed round belonged to Trasti, which raised PLN 89.5 million from Triglav and the EBRD.
Between 2022 and 2023, VC funds backed 80–120 startups per quarter, but activity dropped sharply in 2024. This year shows recovery—33 seed and pre-seed investments were made in Q3, and total transactions reached 39, matching the two-year average.
(pb.pl)
