PFR KOFFI

PFR KOFFI

Funds growth-stage Polish venture managers that provide strategic capital and support to scaling startups.

PFR KOFFI is a growth and expansion-stage equity fund-of-funds operated by PFR Ventures, the venture capital arm of Poland's state-owned Polish Development Fund. The program targets experienced VC fund managers who can provide meaningful smart-money support — operational expertise, networks, and strategic guidance — to scaling Polish companies beyond the seed stage. PFR Ventures has deployed over PLN 1.1 billion across its programs since 2017 and has allocated PLN 4 billion under the broader Innovate Poland initiative.

PFR commits a minimum of PLN 4 million and a maximum of PLN 80 million per fund, covering up to 60% of total fund capitalization. Private investors must contribute at least 40%, and their profit asymmetry over PFR's return is capped at 1.5x. All capital deployed under KOFFI must be fully invested by the end of 2030. Fund managers applying to KOFFI must demonstrate significant investment know-how and the ability to add smart-money value to portfolio companies — passive capital managers are not the intended audience.

Applications require submission of an online form together with verification documents and a detailed investment policy, submitted via pfrventures.pl. An active call was open as of late May 2026 with approximately 19 days remaining. KOFFI is best suited to established VC teams with a proven track record in Polish growth-stage investing who want a government co-investor providing up to 60% of fund capitalization in return for market-rate, asymmetry-capped economics.