Kaya launches EUR 70 mln VC fund, seeking startups in Poland and CEE
Czech venture capital Kaya is launching a new EUR 70 million fund to invest in companies from Poland and the CEE region. It plans to support up to 25 startups in becoming global leaders, financing them from the idea stage to round A, Kaya said in a press release.
Kaya, a venture capital fund operating in Central and Eastern Europe, has announced the first closing of its fifth fund. The entity, which specialises in early-stage investments, has raised EUR 70 million. It will allocate the funds to support technological innovation in CEE.
The new fund will focus in particular on Poland, the Czech Republic and Slovakia. It will also start operating in new and rapidly growing startup ecosystems, including Bulgaria, Hungary, Croatia and Slovenia.
The fund plans to support up to 25 startups, from the pre-seed phase to series A. Kaya's average investment size is typically between EUR 1 and 3 million.
For portfolio companies with exceptional performance, the fund can allocate up to EUR 20 million in total in subsequent rounds and through co-investments with trusted partners.
Kaya's previous investments included a group of significant Polish technology start-ups, such as Booksy (which exceeded EUR 100 million in revenue last year) and Docplanner (already in the unicorn club). Fast-growing Polish companies supported by Kaya also include Jutro Medical, Zeta Labs and Yoneda Labs.
In total, Kaya currently has over 45 companies in its portfolio, with a value of EUR 350 million.
"We are looking for founders with big dreams and the courage to enter the global market. We want to be their first and long-term partners: we come in at an early stage and remain active even as their company grows into a truly global, influential organisation," said Tomas Obrtac, one of the fund's five partners.
Kaya's investors include entrepreneurs from Central Europe, founders, as well as international funds, large institutions and regional banks.
pr/ han/