Recently Polish fund of funds PFR Ventures in cooperation with Techosystem, Movens Capital and AIN.Capital has published results of the research study conducted during December 2023 and January 2024. Research focuses on the Polish venture capital market and specifically on Ukrainian companies, partially conducting their operations in Poland. The main idea of research was to dissect and comprehend the complex dynamics of the presence of Ukrainian startups within the Polish startup ecosystem, as well as the array of challenges they encounter. Based on the open sources of information and anonymous survey of startup founders, it was discovered that at least 62 tech firms - Ukrainian service and product companies - have established a legal presence in Poland, 21% of them have expanded in Poland. The surveyed firms are represented in Poland by small local teams, suggesting cautious market strategies. Team sizes across various company scales imply a strategic approach to market entry or expansion in Poland. It was noted that Funds Raised by Ukrainian Startups in Poland structured as: USD18.07mln received by 24 companies from private and institutional investors; USD15.00mln raised by 14 companies from private investors solely, among which USD4.7mln contributed by Polish investors; USD3.22mln of grant funds received by 10 companies, USD0.78mln of which in Poland; A full version of research can be found here. Well done, Ukrainians!
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