Polish venture fund aims to raise $100m for Ukrainian startups

Polish venture fund aims to raise $100m for Ukrainian startups

Polish company Next.Step is to create a private investment fund to help finance Ukranian startups.

The fund, which has a target size of $100 million, will invest in projects at various stages of development. Teams must offer a solution to real-life problems and create a workable business model. The startup must also be willing and ready to move to Warsaw for the first 3-6 months. The fund will only consider projects that have development potential within Poland and the EU.

All costs associated with the relocation will be incurred by Next.Step. The Polish company will provide an initial investment ranging from $20,000 to $500,000, depending on the stake taken in the project. The company also promises to help with any legal aspects that arise connected with the project’s switch to Poland.

Next.Step plans to establish an incubator in Warsaw by the end of 2014 that will provide a creative co-working space for startups from Ukraine. The ultimate goal for Next.Step is the creation of a holding company that will include fund financed start-ups.

Applications must be submitted before September 1st 2014. According to the company, they have received 200 applications and have preliminary agreements with three start-ups.

CATEGORY: Press-Releases

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