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Venture Capital

We provide a wide range of services for both highly specialized innovative companies, business angels, Polish (including those financed by public means) and international Venture Capital funds in the field of technology transactions. Thanks to close cooperation within an international network of contacts, the founders of exciting growing Polish and CEE businesses are able to achieve their global aspirations.

More and more Venture Capital funds are coming to Poland and other CEE countries from both Western Europe and North America. The Polish Venture Capital market is still in its infancy. Although the Polish Venture Capital market is just gaining momentum, in 2021 EUR 792 million passed through the Polish VC market. This is the total amount of capital that Polish and foreign funds have invested in domestic and innovative enterprises. In 2021 alone, companies raised more (venture) capital than in 2019 and 2020 combined.

As a team we have taken the pioneering approach of attracting international Venture Capital funds to the Polish market, whilst continuing to also work with the leading Polish and CEE Venture Capital funds. As a result, we have worked with Venture Capital funds from all over the world, including the UK, the USA, China, Israel, Japan, Turkey and India, and encourage them to invest in Polish companies. Our team is considered the go-to for Venture Capital in Poland, being the largest specialist team, and having advised on more deals than any other Polish legal team.

Services

  • Advising on fund formation, fund stake sales and acquisitions.
  • Advising on cooperation agreements between business angels and investors (including co-investment agreements).
  • Legal, tax and financial due diligence and preparing reports identifying risks.
  • Advising on the preparation and negotiation of transaction documents such as term-sheets and investment agreements.
  • Providing services for international transactions through a network of foreign law firms.
  • Negotiating, preparing and concluding joint venture agreements, establishing principles of shareholder cooperation, incentive plans (ESOP) and conducting proceedings before administrative bodies, including the FSA (e.g. in the case of ASI).

Experience

PKO BP VC

Providing legal advice to PKO BP VC on a number of transactions including its joint PLN 17 million follow-on financing round in Autenti, involving three banks – PKO BP, Alior Bank and BNP Paribas and two Venture Capital funds – Innovation Nest VC and Black Pearls VC. This was one of the biggest VC investment rounds in Poland in 2019. Also advising the Polish bank (prior to establishing it’s VC fund) on the acquisition of Zencard, a FinTech company offering loyalty/promotional IT solutions to consumers – this was the highlight of the Polish VC and Fintech market in 2017.

Case study

AI Busters

Providing legal advice to the owners of AI Busters, an automation of customer service company on the investment of YouNick Mint VC.

Case study

Life Science Innovations VC

Providing legal advice to LSI VC in its investment in a life science company.

Case study

bValue VC

Providing legal advice to bValue VC on a number of transactions including its intended investment in a MarTech company; on its investment in YesIndeed, the creator of the HRtech tool WannaBuy, a cost-free solution offering a platform for managing employee benefits along with gameplay, which increases employee involvement and satisfaction to achieve corporate goals; and on its investment in RevolMatic (an automatic beer machine).

Case study

Fidiasz EVC

Providing legal advice to Fidiasz EVC VC fund in its investment in Photon Entertainment, a robot which teaches children programming and logical thinking.

Case study

Life Science Innovations VC

Providing legal advice to the LSI VC fund on its investment in Brainscan, a creator of artificial intelligence for the study of human brain diseases.

Case study

Alfabeat VC

Providing legal advice to the Alfabeat VC fund on its investment in Perfect Gym, a management system for the fitness industry.

Case study

TDJ Pitango Ventures

Advising TDJ Pitango Ventures on a VC investment round into CallPage – a dynamic online start-up company that was highly sought after by numerous investors. This was one of the biggest VC investment rounds in Poland in 2018.

Case study

Interactive Travel Holdings

Advising a Polish and Romanian online travel agency Interactive Travel Holdings (Fru.pl and Vola.ro) in connection with a VC investment from 3TS Capital Partners

Case study

dr Grzegorz Suwalski

Providing legal advice to dr Grzegorz Suwalski on investment in the VC fund, YouNick Mint, in the Heart Sense project (a device for recording electrocardiographic signals (ECG) directly from the surface of the heart during coronary artery bypass implantation surgery.

Case study

Team

Our firm consists of nearly 60 people, including lawyers, tax experts and support staff specialising in a range of key practice areas and industry sectors, and located in three offices in Poland.

Rafał Stroiński

Managing Partner at B2RLaw Warsaw

Agnieszka Hajos – Iwańska

Of Counsel Krakow

Malwina Niczke – Chmura

Counsel Warsaw

Paulina Wyrostek

Counsel Krakow

Martyna Szpakowska

Associate Warsaw

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