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SMOK Ventures of Poland Locks in $25M for CEE Startup Fund

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SMOK Ventures of Poland Locks in $25M for CEE Startup Fund
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Exciting news is brewing in the world of startups, particularly in Central and Eastern Europe (CEE). SMOK Ventures, a prominent venture capital firm, has recently closed its second fund, raising an impressive $25 million supported by PFR Ventures. This fund aims to invest in promising startups from the CEE region and its diaspora, signaling a boost for entrepreneurial endeavors in the area.

Key Highlights

  1. SMOK Ventures: Who Are They? SMOK Ventures is a leading venture capital firm headquartered in Warsaw that invests in early-stage startups across CEE. With a focus on technology-driven businesses, SMOK Ventures supports innovative ideas and helps entrepreneurs turn their visions into reality.
  2. Fund Allocation: SMOK Ventures' second fund targets up to 35 startups primarily from CEE countries with a focus on software development, game development, and artificial intelligence. The investment ticket ranges from $100,000 to over $1 million.
  3. Investment Portfolio: The fund has already made investments in 12 startups across various countries, including Poland, Czechia, Croatia, Bulgaria, Latvia, Serbia, and Bosnia. Notable investments include 57hours, a Croatian marketplace for unique travel experiences, and Gotiva, a graphic developer startup with roots in Poland and Bosnia.
  4. Strategic Goals: SMOK Ventures aims to deploy capital into at least 10 new projects in 2024, with a focus on the Polish market. PFR Ventures, a key limited partner, has shown confidence in SMOK Ventures' track record and its commitment to supporting startup growth.
  5. Impact and Recognition: SMOK Ventures' success positions it as one of the top 20 most active Polish VC funds, as recognized by AIN.Capital. Managing over $400 million worldwide, it operates with a robust global network of funds. Leading the charge are seasoned professionals Paul Bragiel, Diana Koziarska, and Borys Musielak. The fund's investments from its first portfolio have already significantly contributed to the region's economy, generating over €31 million in annual revenue and employing more than 650 individuals.

SMOK Ventures' $25 million fund represents a significant milestone in driving startup growth and innovation across the CEE region. With a focus on supporting emerging businesses in software development and related fields, SMOK Ventures continues to play a crucial role in shaping the entrepreneurial landscape in Poland and beyond. Want to establish a startup in Poland? Contact EU Helpers for professional advice.

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