EIF and BGK Back New Inovo Fund to Support Polish Technology Startups

EIF and BGK Back New Inovo Fund to Support Polish Technology Startups

(IN BRIEF) The European Investment Fund (EIF) and Bank Gospodarstwa Krajowego (BGK) have committed €30 million, approximately PLN 129 million, to a new venture capital fund managed by Inovo.vc, marking the fourth investment under the Future Tech Poland programme and bringing total allocations under the initiative to around PLN 580 million. Future Tech Poland, a joint BGK-EIF fund-of-funds initiative and pillar of Innovate Poland, is designed to strengthen Poland’s venture capital ecosystem by increasing the scale of local funds and supporting investment in innovative high-growth companies, including in areas such as artificial intelligence, fintech, cybersecurity and defence technologies. Inovo.vc focuses on early-stage technology companies in Poland and Central and Eastern Europe and has supported more than 70 teams since 2014. EIF Chief Executive Marjut Falkstedt, BGK Management Board Member Jarosław Dąbrowski and Inovo.vc Managing Partner Tomasz Swieboda said the investment will help expand Poland’s innovation economy, provide institutional capital to promising technology companies and support founders with the potential to compete internationally.

(PRESS RELEASE) LUXEMBOURG, 19-Aug-2026 — /EuropaWire/ — The European Investment Fund, known as EIF, and Bank Gospodarstwa Krajowego, known as BGK, have invested €30 million, equivalent to approximately PLN 129 million, in a new venture capital fund managed by Inovo.vc.

The investment is the fourth transaction signed under Future Tech Poland, a joint initiative managed by the EIF and backed by BGK.

To date, the programme has allocated around PLN 580 million.

The new commitment is intended to strengthen Poland’s venture capital ecosystem and support innovative, high-growth technology companies.

Inovo.vc invests in early-stage technology companies, with a focus on ambitious founders in Poland and Central and Eastern Europe.

The commitment from Future Tech Poland to the new Inovo.vc fund reflects the programme’s objective of backing venture capital managers that invest in innovative companies with strong growth potential.

The total value of the investment in the new fund, including the EIF’s co-investment, amounts to €30 million.

Marjut Falkstedt, Chief Executive of the European Investment Fund, said Future Tech Poland is designed to strengthen Poland’s innovation economy by increasing the scale and depth of the local venture capital market.

She said the investment in Inovo supports that objective by backing a proven team that helps ambitious technology companies grow from an early stage and develop solutions with the potential to compete across Europe and globally.

Jarosław Dąbrowski, Member of the Management Board of BGK, said the investment in the fund managed by Inovo.vc is the fourth transaction under the Future Tech Poland programme, which is one of the pillars of the Innovate Poland initiative.

He said the transaction is also another step in implementing BGK’s investment strategy.

Dąbrowski said BGK’s goal is to systematically strengthen Poland’s competitiveness and reinforce the domestic venture capital ecosystem, ensuring that institutional capital reaches the country’s most innovative companies.

He added that BGK plans to reach more than 40 percent of the total allocation of Future Tech Poland funds by the end of the year.

Tomasz Swieboda, Managing Partner at Inovo.vc, said that since 2014, Inovo.vc has backed ambitious founders building early-stage technology companies across Poland and Central and Eastern Europe.

He said the firm has supported more than 70 teams during that period.

Swieboda said Inovo.vc believes the next generation of global technology leaders will emerge from Poland and the wider region.

He added that the firm aims to be the first institutional partner for such companies and support them on the path to becoming global leaders in their categories.

He said the involvement of BGK and the EIF through Future Tech Poland is important for the development of the market.

About Future Tech Poland

Future Tech Poland is a joint initiative of BGK and the EIF and is one of the pillars of the Innovate Poland programme.

The initiative operates as a fund-of-funds managed by the EIF.

It includes a PLN 1 billion allocation from BGK and a PLN 500 million co-investment alongside the BGK allocation.

Future Tech Poland aims to strengthen the Polish venture capital fund ecosystem, particularly by increasing the size of local funds and stimulating investment in Polish companies.

Through its capital commitments, the initiative supports innovation and growth in areas including artificial intelligence, fintech, cybersecurity and defence technologies.

About the European Investment Fund

The European Investment Fund (EIF) is the subsidiary of the European Investment Bank Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six EU member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund-of-funds to scale up innovative startups. To date, this initiative has already enabled the creation of 14 European venture capital mega-funds and scaled up 40 companies, including 11 unicorns (with more than €1 billion in capital).

The EIF has invested €8 billion in Poland to date, helping leverage some €25.8 billion in support for over 119,000 SMEs.

About BGK

Bank Gospodarstwa Krajowego (BGK) is Poland’s development bank, supporting the country’s sustainable socio-economic growth. BGK implements strategic infrastructure projects, fosters innovation, and supports the development of Polish businesses both domestically and internationally. The bank cooperates with the European Investment Fund on equity investments, including through the Polish Growth Fund of Funds (PGFF) and the Three Seas Initiative Innovation Fund, which continues the mission of PGFF.

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SOURCE: European Investment Fund