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Life Sciences: Poland scoops up €32m VC
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Life Sciences: Poland scoops up €32m VC

24.03.2015 - Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.

Poland made a breakthrough in its Life Sciences sector this week, after the closing of the country’s first institutional investment fund that is completely dedicated to the Life Sciences. The Joint Polish Investment Fund (JPIF) is led and managed by a group of partners with a significant track record in the Life Sciences sector and backed and supported by The National Centre for Research and Development (NCBR). The NCBR is an executive agency of the Ministry of Science and Higher Education of Poland and supports national science as well as general innovation policies. The fund marks a milestone on the country’s path to reinforce its Life Science industry.

Focusing on areas with significant growth and relatively short holding periods, the JPIF will invest in early- and mid-stage companies that have a close relationship to Poland. Companies in the area of medical technology, enabling technology or mobile health, for example, demonstrate high return potential. The investment-holding period is 3-5 years.

The development and commercialisation of new technologies in Poland has suffered due to a lack of funding but finally fresh money is flowing into the sector. Krzysztof Jan Kurzydłowski, Acting Director of the National Centre for Research and Development, is excited about the new fund as it adds private funding to the public money, which has been in short supply. “Private sector investment into life sciences also provides much needed innovation management skills and widens access to the global market,” he enthused.

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http://www.european-biotechnology-news.com/news/news/2015-01/life-sciences-poland-scoops-up-eur32m-vc.html

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No liability assumed, Date: 25.03.2015