bValue closes new €90M growth fund

bValue's Growth Fund has previously invested in Hostersi and is the process of finalising other investments.
bValue closes new €90M growth fund

Seasoned Polish investor bValue has closed its growth fund, BVG. bValue’s third fund has raised of €90M from LPs, exceeding the target cap of €80M. The firm drives the development of tech startups and scaleups across Poland and across the CEE region.

Roughly half of the capital raised during this phase comes from financial institutions, including the European Investment Fund and the Polish Development Fund. The rest of the capital came from private investors, including Polish and foreign family offices.

bValue Growth is a leader of growth equity provision in the region. It seeks to fill the financing gap between venture capital funds, which invest at an early stage, and private equity funds, which offer mainly buyouts.

It is rare for investment funds in Poland to successfully raise a third fund. BVG’s investor base consists of nearly 50 percent institutional investors and the other 50 percent private investors, mainly from Poland and Western Europe. 

This investment was made possible via the European Scale-up Action for Risk capital programme which supports investments in scale-ups.

“We appreciate the confidence that investors have placed in us. It is particularly satisfying to see the significant vote of confidence from the European Investment Fund at the first closing of the Fund, which greatly facilitated the acquisition of further investors.” said Maciej Balsewicz, Founder and Managing Partner at bValue.

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