Cogito's Fund II Receives €15 Million Boost from EBRD
Deal News | Nov 14, 2024 | Cogito Capital Partners
The European Bank for Reconstruction and Development (EBRD) has invested €15 million in Cogito Fund II, a venture capital fund managed by Cogito Capital Partners aimed at supporting technology-driven companies in Central and Eastern Europe (CEE). This fund plans to invest in scale-up firms with innovative technology and digital-enabled business models, particularly in enterprise software, fintech, and healthtech. Cogito Fund II aims to build a diversified portfolio of 10 to 12 companies by making equity investments between €5 million and €15 million each. This injection from EBRD aligns with its strategy to promote capital market developments and digitalisation in the CEE region. Previous successes include Cogito Fund I's profitable exit from Applica.AI, acquired by Snowflake. Key figures such as Anne Fossemalle of the EBRD and Sylwester Janik of Cogito heralded the fund's potential contribution to increasing competitiveness and innovation in local economies.
Sectors
- Venture Capital
- Technology
- Financial Services
Geography
- Central and Eastern Europe – The focus of the fund and investment by EBRD is towards expanding the venture capital market within the CEE region.
- Poland – Cogito Capital Partners is based in Poland, and the EBRD is a significant institutional investor in the country, highlighting Poland’s role in this investment activity.
Industry
- Venture Capital – The article discusses the investment by the EBRD into a venture capital fund managed by Cogito Capital Partners, highlighting the focus on funding scale-up technology-driven companies.
- Technology – Cogito Fund II is investing in companies that focus on innovative technologies and digital business models, which is central to the technology industry.
- Financial Services – The involvement of the EBRD, a financial institution, indicates the role of financial services in enabling venture capital growth in the region.
Financials
- €15 million – The amount invested by the EBRD into Cogito Fund II.
- €5 million to €15 million – The typical investment size of Cogito Fund II into scale-up companies.
- €14.9 billion – The total investment by EBRD to date in Poland.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cogito Capital Partners | Fund Manager | Company | A venture capital firm in CEE managing Cogito Fund II, focusing on technology-driven scale-up companies. |
| European Bank for Reconstruction and Development (EBRD) | Investor | Company | A financial institution investing €15 million in Cogito Fund II to support venture capital markets in CEE. |
| Applica.AI | Portfolio Company | Company | A Polish document-automation platform formerly part of Cogito Fund I's portfolio, exited successfully by acquisition by Snowflake. |
| Snowflake | Acquirer | Company | A leading cloud-computing company listed on the New York Stock Exchange, acquired Applica.AI. |