Fund supporting innovative Polish companies and the commercialization of indigenous research initiatives.
Geographical focusWitelo Fund is focused predominantly on European and Israeli markets. Vast majority of venture capital funds in Witelo’s pipeline target both well-developed markets with relatively higher supply of projects is higher and multiple exit routes. The strategy is supplemented with less developed regions to leverage on higher ineffectiveness and large talent pool.
What are we looking for?We live in a complex and rapidly changing environment. The constant change is fueld by technological development especially in the area of access to information. Witelo Fund will primarily focus on managers that are able to challenge existing business models and see those rapid changes as opportunities that can enable them to thrive.
Witelo fund strategyWitelo aims at building long-lasting and close relationships with fund managers that are willing to invest in enterprises with high potential of becoming ‘unicorns‘
The FIZ AN Witelo Fund has been established in order to create the very first Fund of Funds in Central and Eastern Europe. As one of the leading financial institutions, PZU Group has a significant influence on what is happening in this geographical area (CEE).
- Strong commitment of at least EUR 45 million from the PZU Group - one of the largest financial institution in CEE.
- Having a strong position and network in the region, PZU may provide local footprint for VC funds.
- Witelo wants to maintain a close cooperation with selected managers encouraging them to invest in Poland and less developed EU countries.
- Backed by a stable financial institution with established critical processes.
- Matching top-tier Western European VC Funds with Easter-European players to obtain superior returns.
WHAT ARE WE LOOKING FOR?
- Witelo Fund will hold non-controlling minority positions as Limited Partners with less than 10% of total fund commitments
- Sweet spot fund size should be between EUR 30 million and EUR 1 000 million
- On a very opportunistic basis Witelo may co-invest but will not leverage it’s positions
- Witelo seeks managers achieving solid two-digit gross returns (IRR)
Witelo fund strategy
- cyber security
- information security
- enterprise software
- internet-based services (i.e. Cloud Computing and Software as a Service)
- software and mobile applications
- digital media