The European Bank for Reconstruction and Development (EBRD) is investing €20 million in Spire Capital Partners Fund I, a new independent private equity fund based in Poland. This commitment has been instrumental in enabling the fund to reach its €90 million target size and establishing Spire Capital Partners as a new player in the region’s investment landscape. The fund will focus on equity and quasi-equity investments in technology-enabled SMEs across Poland and central and eastern Europe, targeting sectors such as software, e-commerce, and tech-enabled services. Investments will typically range between €5 million and €20 million, with the goal of acquiring majority or significant minority stakes in companies that have established market positions, positive cash flows, and strong growth prospects.
The fund aims to drive long-term capital growth by supporting strategic, operational, and digital transformations within its portfolio companies. According to the EBRD’s Head of Equity Funds, Anne Fossemalle, there is a critical financing gap for profitable companies that require professional investors to prepare them for the next stage of growth, and Spire Capital will help bridge that gap through technological expertise and active support. EBRD Regional Director for Poland and the Baltic States, Andreea Moraru, noted that the investment reflects the Bank’s commitment to developing the private equity ecosystem and offering SMEs alternative sources of financing to enhance competitiveness and innovation.
Spire Capital Partners’ partner Arkadiusz Podziewski emphasized that successfully closing their first fund amid challenging geopolitical and economic conditions shows investor confidence in their strategy. While Poland’s private equity market is developed, it remains relatively shallow, with limited domestic institutional investor participation and restricted bank financing for SMEs. First-time fund managers face additional hurdles in attracting international capital, making EBRD’s support crucial for maintaining a diverse and dynamic investment environment.
The EBRD has been a leading institutional investor in Poland since 1991, investing over €16 billion across 576 projects. In 2023 alone, the Bank invested a record €1.4 billion in the country, underscoring its long-term commitment to strengthening Poland’s economy and supporting innovative growth initiatives like Spire Capital Partners Fund I.
