Polish VC Movens Capital launches €60M fund II to back startups in Central and Eastern Europe

Movens Capital, a Warsaw-based VC fund, has launched a €60 million multi-stage fund to invest in founders from Central and Eastern Europe. The fund is backed by the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and over 80 startup founders, tech operators and seasoned entrepreneurs. The company shared the news with AIN.

Movens Capital is a multi-stage venture capital firm backing tech companies from Central and Eastern Europe with global ambitions. 

About new Fund II

• Fund II will provide first checks of €250,000 to €3 million for startups at pre-seed, seed, and Series A and Series A+ stages. Also, the fund provides hands-on support to startups across the investment lifecycle.

• The fund will make around 30 investments across Central and Eastern Europe, including diaspora founders building globally.

• With Fund II, Movens Capital aims to address the region’s funding gap by backing standout young firms across enterprise software, AI, climate tech, fintech, healthcare, e-commerce infrastructure, and the future of work sectors. 

Movens’ Fund II encompasses Poland, the Balkans, the Baltic states, Czechia, Slovakia, Hungary and Romania. The fund will also back founders from Ukraine and Moldova.

“We are delighted to back Movens’ new fund and help empower the next generation of tech founders in Central and Eastern Europe. Supporting the growth of the venture capital and private equity ecosystem is a key priority for the Bank in the region, and we are confident that this partnership will scale up new innovative and high-potential companies,” says Anne Fossemalle, Director, Equity Funds at the EBRD.

Investment details

The fund is backed by the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and over 80 startup founders, tech operators and seasoned entrepreneurs.

• The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 75 countries, as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, well governed, green, inclusive, resilient and integrated.

• PFR Ventures is a fund-of-funds management company that, together with private investors, business angels and corporates, invests in venture capital and private equity funds. Its goal is to channel this capital into innovative Polish companies at various stages of development. PFR Ventures currently manages a portfolio of over 90 funds, which have made over 900 investments.