EU
#JunckerPlan supports €55 million investment fund in #Poland
The European Investment Fund (EIF) is investing in Cogito Fund I, a Polish fund set up by Cogito Capital. The fund has raised €55 million to finance late- and growth- stage software, fin-tech, and mobility companies. The EIF investment is supported by the Juncker Plan's European Fund for Strategic Investments.
Cogito Fund I will predominately invest in companies in Central Europe that have the potential to expand into other European markets and the USA. Other investors in Cogito Fund I include funds managed by the Polish Development Fund as well as private professional investors.
Euro and Social Dialogue, Financial Stability, Financial Services and Capital Markets Union Vice President Valdis Dombrovskis (pictured, right) said: “The Juncker Plan's European Fund for Strategic Investments is playing an important role in assisting start-ups across Europe gain access to finance to innovate, grow and expand. This agreement will see even more high-potential European technology companies gain the support they need to take their next steps.”
A press release is available here. As of June 2019, the Juncker Plan has mobilized nearly €410 billion of additional investment, including €18.1bn in Poland. The Plan is currently supporting 952,000 small and medium businesses across Europe.
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