ICF Invests Up to €15 Million in Emerging Central and Eastern European Tech Fund
Warsaw, Poland, November 12, 2024—International investors have committed a significant funding boost to support early-stage tech companies in Poland and other Central and Eastern European (CEE) countries, as the International Finance Corporation (IFC) has invested up to €15 million in Cogito Fund II.
This investment paves the way for key technology startups to gain access to necessary capital and resources to develop and scale cutting-edge solutions across sectors like fintech, climate-tech, and others. CEE has been witnessing an unprecedented growth in its technological sector, boosting innovation with a 2.4-fold increase in combined enterprise value over the past five years.
IFC's substantial commitment aims to bolster this growing industry in light of the regional scarcity of funding at late stages for established entities seeking international expansion. With €125 million committed, Cogito Fund II is poised to support startups and ventures, helping shape the entrepreneurial ecosystem and align their innovation capabilities with those observed within leading European markets.
As a key strategic partner to stimulate growth and digital transformation in Eastern Europe, IFC underscores its enduring support for venture capital firms through this notable partnership. "CEE economies need enhanced venture ecosystems and more accessible equity financing to rise up against prevailing global standards," underscored Ary Naïm, World Bank Group Country Manager for Poland and IFC Manager for Central and South Europe.
The Cogito Fund II will be dedicated to investing in Series A+ technology companies that provide software-based enterprise solutions across the aforementioned sectors. This targeted investment strategy reinforces its long-standing ambition to boost innovative growth throughout Eastern Eastern European countries, bolstering IFC's track-record spanning over two decades in supporting regional venture capital initiatives.
Through this partnership, Cogito Capital Partners will ensure the development and scaling of vital enterprises by unlocking resources essential for realizing their full-growth potential—now set at €125 million.