Polish-based private equity firm Enterprise Investors has announced the final closing of the largest fund of its kind in Poland and the CEE region, Enterprise Venture Fund I (EVF I) at €100m.
Focusing on Central and Eastern European markets, EVF I’s investments will range from €1m to €5m per project. The fund will finance the expansion of small and medium-sized enterprises operating in the technology sector as well as retail, manufacturing, business and financial services and consumer goods sectors in Poland and CEE.
The largest investor in the fund is the George Kaiser Family Foundation, which along with its Argonaut Ventures unit has invested more than €689m in privately-held companies and venture capital funds globally. Other investors in EVF I are international financial institutions that have been working with EI for several years.
The fund was formed to raise capital for the development of SMEs in CEE. In its first year it will invest predominantly in Poland and will later expand into countries in CEE.
Enterprise closed its previous fund Polish Enterprise Fund IV on €658m.