Future Tech Poland has invested 30 million euros, or approximately 129 million zlotys, in a fund managed by Inovo.vc. This is the fourth transaction under the programme established by BGK and the European Investment Fund. In total, FTP has already allocated €134 million, nearly PLN 580 million. The entire initiative has €350 million at its disposal and is set to be fully deployed by the end of 2027.
This is not a direct injection of 30 million euros into start-ups. The money goes to Inovo.vc, which focuses on early-stage investments in technology companies from Poland and Central and Eastern Europe.
The investment comes at an interesting time for the Polish VC market. In the first half of 2026, start-ups raised 4.6 billion zlotys, more than in the whole of 2025. However, this figure is heavily concentrated: PLN 3.7 billion came from funding rounds for ElevenLabs and ICEYE. At the same time, 77 per cent of transactions in the second quarter were seed and pre-seed investments.
The FTP is intended to help increase the scale of local funds and attract private capital. The programme stipulates that its stake in any single fund will be less than 50 per cent, whilst private investors will provide at least 30 per cent of the funds.
One possible outcome will be greater access to funding for companies developing AI, cybersecurity or dual-use technologies. However, private capital remains key. As many as 57 per cent of fund managers rate its availability as limited or very limited. The success of the FTP will therefore depend not only on the pace at which public funds are disbursed, but also on whether they trigger further private investment.
