DLA Piper advises PFR Ventures on establishing groundbreaking Innovate PL Fund of Funds

DLA Piper has advised PFR Ventures on the establishment of Innovate PL FoF, a new fund of funds investment platform that will deploy funds into high-growth and innovative Polish businesses through private equity, private debt and venture capital funds. The fund’s capitalization reached nearly EUR400 million at first closing. The Innovate PL FoF has been established within the Innovate Poland programme, which brings together public and private capital on a comprehensive scale. The Innovate PL Fund of Funds represents a landmark initiative aimed at channeling significant institutional capital into the Central European investment ecosystem. By targeting allocations across private equity, private debt and venture capital strategies, the fund is positioned to support the growth and development of the region’s most promising businesses and fund managers.

PFR Ventures is a fund of funds manager and a subsidiary of the Polish Development Fund Group (PFR Group), dedicated to supporting the development of the venture capital and private equity ecosystem in Poland and the broader Central European region.

A cross-border and multidisciplinary DLA Piper team worked on the matter led by partner Caroline Pimpaud and counsel Wojciech Kalinowski. They were supported by partner Luis Muñoz, counsel Bahya Bouharati, senior associates Marianna Spyropoulou and Sarah Noville, tax adviser Gonzalo Burgaleta Aza, and associate Florian Reina.