Up to the end of January of this year venture capital managers can put forward a motion for co-financing from the National Capital Fund that will spend up to PLN 60 million from the Swiss-Polish Cooperation Programme for creation of venture capital funds.
The funds that the NCF is investing in are selected on the basis of the submitted investment proposals for the tender of offers. The tenders are aimed at VC funds and funds’ managers that are willing to invest in dynamic and innovative SMEs. In accordance with the principles of the Swiss-Polish Cooperation Programme a part of granted financial means is to be invested in the priority regions e.g. Lubelskie, Podkarpackie, Świętokrzyskie and Małopolskie. The means received by enterprises from the VC funds will substantially improve companies’ chances of commercialization success.
‘The funds are financed by the NCF together with private investors. The NCF’s share in the fund’s capitalization cannot exceed 50%, which in case of the maximal involvement of the NCF will double the capital for investment in the SMEs and consequently enhance the scale of VC funds’ operating activities. So far the NCF has allocated PLN 494 million for investment in thirteen funds with the current total capitalization of more than PLN 900 million. To date we have announced five tenders of offers and have been provided with the greatest experience in investment in VC funds in Poland.’ –says Piotr Gębala, President of the Management Board.
The NCF covers some part of management costs when investing in VC funds. Private investors have priority for revenue distribution after exiting an investment.
Till January 31st, 2012 investment proposals can be submitted by both existing VC funds and funds’ management bodies. When it comes to the latter fund’s registration can come after. Tender of offers documentation available on the site: http://www.kfk.org.pl/en/how-we-invest/tenders-offers/tender-offers-12011
The tender of offers announced in August 2011 is the second in the row this kind of project financed by the Swiss-Polish Cooperation Programme. The entire sum of money for investment in VC funds pledged by the NCF in the first edition remained the same as present that is no less than PLN 60 million. In the framework of the first tender of offers the NCF has already invested in one fund (Nomad Management GmBH S.K.A.) and the next two transactions are the subject of advanced negotiations.
