In a nutshell
- Polish bValue closes their bValue Growth (BVG) fund with a total cap of €90M, exceeding the target cap of €80M.
- BVG finances the development of technology companies in Poland and across the CEE region. The fund also has the ability to make partial buyouts.
- BVG, launched in 2022, is the third and largest fund in bValue’s history.
Their background story
Warsaw-based bValue was founded in 2016 by Maciej Balsewicz as early-stage tech investor for CEE companies. Since its inception, it has invested in over 40 companies, with 14 successful exits. The fund’s seed investments usually range from €100K to €1M.
The bValue team comprises nine Fund experts and a platform of over 50 field advisors who collaborate with the Fund, offering strategic and tactical support to the investment team and portfolio companies (bValue Bench).
Almost half of the capital was secured through limited partners including institutional investors such as the European Investment Fund and the Polish Development Fund, as well as private ones, including Polish and foreign family offices.
bValue Growth invests €5 – €15M in a single ticket for an equity stake of 20-40%, with possibility to acquire majority stakes in exceptional cases.
The fund targets fast-growing companies with proven business models and dedicated teams. Its primary focus lies on tech companies.
To date, BVG has invested in Polish Hostersi, a provider of cloud migration and cloud infrastructure support services.
In their own words
“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 (EIF) at the first closing of the Fund, which greatly facilitated the acquisition of further investors,” said Maciej Balsewicz, Founder and Managing Partner at bValue, responsible for the launch of new funds.
“bValue Growth pioneers a new asset class in the region, known as growth equity. 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,” explained Maciej.
“bValue’s strength lies in using the language of technology to build strong relationships with entrepreneurs. Our experience and organizational culture enable us to act as a valuable minority partner capable of adding tangible value,” he added.
