Poland’s Bank Gospodarstwa Krajowego (BGK) and the European Investment Fund (EIF) have made the first investments under the Future Tech Poland (FTP) scheme, signing a total of €85 million for three Polish funds specialised in financing cutting-edge technologies.
The funds are Expeditions II, Cogito II and Balnord.
“These allocations will inject new capital into the local innovation ecosystem, making more money available to growing startups and ambitious scaleups from defence to cyber-security to space solutions,” said the EIF.
The investment agreements come shortly after the EIF and BGK established the FTP, a €350 million vehicle aimed at supporting tech innovators in Poland and Central-Eastern Europe, contributing to their overall economic strength and resilience.
FTP is a fund of funds with its investment strategy envisaging reaching new VC funds and increasing fund sizes to help the market carry breakthrough technologies, as well as supporting top managers to further bolster local capabilities.
“By helping Polish VC funds reach a more competitive scale, FTP will enable them to provide stronger support to innovative technologies that are critical for Poland’s long‑term competitiveness and economic resilience,” said Marjut Falkstedt, EIF CEO.
“Backed by the EIF’s due diligence and quality stamp, the programme has the potential to unlock over one billion euros for the innovation ecosystem, supporting as many as 200 promising entrepreneurs and small businesses.”
Future Tech Poland is part of the Innovate Poland national investment programme aimed at mobilising more private capital for strategic investment in innovative companies.
BGK contributes €235 million and the EIF adds at least half of that to FTP, which is expected to make further investments this year and be fully deployed by the end of 2027 for nearly two decades.
“FTP offers a strategic opportunity to strengthen Poland’s innovations ecosystem by bridging the funding gap that has hindered dynamic development of tech companies,” said said Mirosław Czekaj, President of the Management Board of BGK.
“It’s an investment in competitiveness, a key pillar of lasting economic security and – in case of these first commitments – state’s resilience. BGK is the largest investor when it comes to FTP and Innovate Poland. We have been implementing a new investment strategy under which BGK intends to reach over 3 billion euros in equity investments by 2027.”