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Michele Mattei Michele Mattei is an Influencer

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Polish VC Radix Ventures raised $25 million out of their $60 million target Warsaw-based #Radix Ventures announces its new #VC fund. With an anchor investment of €25 million from the European Investment Fund (EIF), Radix aims to raise a total of €60 million to support the region's deeptech startups and spinouts. This move is significant as CEE has been known for its strong tech talent but has lacked substantial deeptech innovation and funding. Radix is led by three general partners: Pawel Bochniarz, Wojciech Ratymirski, and Michał Urbanowski. Their experience includes managing the smaller Polish seed fund ValueTech and establishing the Polish chapter of the MIT Enterprise Forum. These backgrounds equip them with the expertise to assess and support research-based companies, a skill set that is currently underrepresented among regional VCs who primarily focus on B2B SaaS and digital sectors. The fund will target late seed to Series B rounds, with plans to back 16 startups and reserve half of the capital for follow-on investments. Radix is open to co-investing with other VCs and also leading funding rounds. Investment tickets will range from €1.5 million to €9 million, depending on the stage of the company. The focus will be on software, hardware, and materials deeptech startups from CEE, with a particular interest in technologies that can transform traditional economic sectors to meet climate goals in areas such as energy, industry, transport, and mobility. Radix has established venture partners in Hungary, Romania, and Ukraine, ensuring a broad reach across the region. The fund aims to agree on a €40 million first close this autumn, with the final close expected within a year. Besides the EIF, Radix plans to raise the remaining funds from funds-of-funds and private investors, including individuals and corporates. The article on #Sifted in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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