National Capital Fund
Small and medium enterprises (SME) in Poland face great difficulties in accessing external long-term finance. The National Capital Fund (Polish: Krajowy Fundusz Kapitalowy – ‘KFK’) is a fund-of-funds which provides venture capital for innovative and R&D oriented SME, particularly in four structurally-weak provinces in the southwest of Poland.
Thema / Schwerpunktbereich
Förderung der Privatwirtschaft
Kapitalzugang für KMU
A fundamental problem for SME development in Poland is shortage of internal capital as well as lack of access to external sources of financing. Due to high credit risk and lack of collateral, debt instruments are only scarcely available to SMEs. Supply of venture capital for such enterprises is even lower.
KFK is an institutional SME investor based in Warsaw specialising in venture capital. It has an important role in business promotion in Poland. KFK has the task of facilitating financial intermediation in the field of venture capital. The investment model is consequently based on a public-private partnership. This means that KFK uses public funds as a leverage to mobilise private resources. KFK and private investors (e.g. pension funds, insurance companies) invest equal shares in venture capital funds, which are selected by means of public tenders. The fund companies in turn participate in the equity of promising SME. Capital and returns on successful investments are subsequently reinvested by KFK.
These are the expected results:
Weiterführende Informationen und Dokumente
Artikel und Pressemitteilungen
Höhe des Schweizer Beitrags:
Datum der Projektgenehmigung:
Verantwortung für die Projektumsetzung: