Black Pearls VC, seed capital fund form northern Poland, has just closed one of their investment portfolios. With co-investment of Polish Agency for Enterprise Development, they invested in 20 new businesses. Shares in two of them have been sold before the end of the investment period. What are plans of management team of Black Pearls VC for the future?
The total value of the fund is 12 910 000 PLN (about 3 250 000 EUR). More than 23%, 2 930 000 PLN (about 750 000 EUR) was a private capital from private co-investors who have chosen to support startups with their money and knowledge.
Yet, within less than two years of the ongoing investment horizon, Black Pearls VC management team has led to two exit transactions. As a result, the two companies raised another round of funding, including Everytap where the shares were bought by TVN Ventures.
Black Pearls VC investment portfolio co-financed by the Polish Agency for Enterprise Development has been officially closed at the end of September.
“Now we have to focus on building value of companies in which we have invested. A major support is here from 17 co-investors who have invested their capital in 15 companies. We hope that our future investments will arouse similar interest of business angels and private investors.” – says Marcin Kowalik, managing partner of Black Pearls VC.
The fund is currently sourcing to Black Pearls LQT Fund, investing in the commercialization of R&D projects by Polish scientists inviting private investors from all over the Europe to co-invest.
Black Pearls VC activities are focused primarily on managing equity funds aiming to invest in innovative projects at early development stages. They also provide comprehensive mentoring activities and support in business relations for portfolio companies. Teams are assisted by experienced entrepreneurs and scientists.