Warsaw-based Cogito Capital has reached the first closing of its Cogito Fund I with €55 million in commitments. The fund is focused on late- and growth-stage enterprise software, fintech, insurtech, and mobility companies operating mainly in Central Europe.
Cogito Capital was founded in 2018 by Sylwester Janik and Martin Jasinski, venture capital and corporate executives with 25 years of experience in the international tech and VC industry. Their recently closed first round has attracted the European Investment Fund (EIF) as the cornerstone investor, alongside funds managed by the Polish Development Fund (PFR), and local investors.
The EIF’s commitment benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the European Union’s Investment Plan for Europe, also known as the Juncker Plan.
“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,” said the European Commission’s vice-president, Valdis Dombrovskis.
Following the first closing of its Cogito Fund I, the venture capital firm announced its first investment in MarketInvoice, Europe’s largest online invoice finance platform, based in London, UK. The fund joined Series B funding of €30 million completed earlier this year and led by Barclays and fintech fund Santander InnoVentures, with participation from existing investors, including Northzone.
Cogito Capital founders said they will support MarketInvoice in the launch of a “cross-border fintech-bank partnerships” program and expansion into new markets in Europe, including Poland.