Private equity in Poland has been attracting increasing interest from international investors for several years. A stable economy, membership in the European Union and rapid development of the technology sector make Poland one of the most promising markets in Central and Eastern Europe. The latest example is Spire Capital Partners, which has closed its first €90 million fund, focusing on mature technology companies in the region, with a particular emphasis on Poland.
Spire Capital Partners – a new player on the private equity market in Poland
Founded in 2021, the private equity fund Spire Capital Partners was established on the initiative of Krzysztof Konopiński, Arkadiusz Podziewski and Łukasz Wierdak – managers with over 40 years of combined experience in the industry. The fund’s strategy is not only to provide capital, but also to actively support companies in scaling their business, increasing operational efficiency and preparing for the next stages of growth.
Investor structure
The fund’s investors include prestigious international institutions such as the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD). As much as 45% of the capital comes from Polish investors – the Polish Development Fund (PFR), local family offices and individual investors. This confirms that the private equity market in Poland also has solid foundations in domestic capital.
Investment strategy – the gap between VC and buyout
Spire Capital Partners focuses on medium-sized companies with stable financial results and high growth potential. Target sectors include:
- Software
- E-commerce
- Tech-enabled services
The fund engages in transactions worth between €5 million and €20 million, acquiring majority or significant minority stakes. The cooperation also includes support in the areas of strategy, marketing, sales, recruitment, and mergers and acquisitions.
Previous investments
To date, the fund has invested approximately 25% of its capital in companies such as Chocolissimo, Bioseco, Mooveno and NEO Hospital.
An example of its effectiveness is the investment in Thulium, a Polish SaaS provider for customer service, from which Spire Capital Partners exited after just over a year, selling its shares to SALESmanago.
What does it mean for the private equity market in Poland?
Spire Capital Partners’ activities show that private equity in Poland is entering a new phase of development. The emergence of funds specialising in medium-sized technology companies may fill the gap between start-up financing and large buyout transactions. This is an opportunity for both Polish entrepreneurs and foreign investors looking for attractive opportunities in a stable but dynamically growing market.
