Are you actively investing now?
The fund structure is set up and agreement with Limited Partners was signed. We are currently registering the fund with Polish Financial Supervision Authority and expect to start doing first investments soon.
Our story
2016
We first founded Kogito Ventures as an "advisory firm" to support early stage startups in fundraising. We soon realised that idea was stup... unwise, and even harmful (fundraising at that stage should never be outsourced).
Kogito pivoted into building angel syndicates and we became investors ourselves. In a biggest strike of luck ever, one of our first investments returned 34x and put wind into our sails.
2019
The first Kogito Ventures fund was launched - a PLN 30m fund operating under the PFR Biznest programme, where each investment was done 50/50 with business angels.
We built a large network of angels and made 18 investments, with notable startups like Jutro Medical, ZEME, Surveily, Weartech, Juo, Simpl.rent, SQAR Plan, SonarHome and Linker still in the portfolio.
2025
Our second fund, Kogito Ventures Starter launched. It's a commitment-based, PLN 82m fund operating under the PFR Starter programme, offering significant upside leverage for over 30 Limited Partners on board. Half of our investors are angels we have a history of investing with.
We stick to where we feel most comfortable: early stage, sector agnostic investments in companies with a Polish nexus (team / founders / target market)
Team
Łukasz Obuchowicz
Partner
Wojciech Niesyto
Partner
Tomasz Bolek
Partner / CFO
Venture Partners
Our Venture Partners are an invaluable source of "been there, done that" knowledge, industry insights and vast network of talent and like-minded entrepreneurs.
Frequently Asked Questions
01
02
What kind of companies are you investing in?
Kogito is a generalist fund, meaning we can invest in any industry. We're happy to be your first investors - before you have any sales traction or even a working product. We're also keen to participate in your later rounds, provided that the terms would still allow us to build a stake that could move the needle for the fund. In terms of geography, our portfolio companies need to have a polish nexus - a strong tie to Poland with regards to operational activities.
The question deserves a longer answer though.
The main prerequisite for raising a round with any VC fund is being a VC-fundable startup. This means having the ability to scale very quickly into a large market and building a defensible business model. These traits are difficult to attain for businesses that do not have the potential to enjoy high operational leverage; that is, their scaling requires a proportional increase in the necessary inputs (e.g., labor or hard assets). It's also very difficult to attract VC funding for businesses with no visible or achievable moat - be it technological or stemming from a unique distribution model or network effects. This expectation of high scalability and defensibility is not a pursuit of a get-rich-quick scheme of venture capitalists, but a direct implication of the high risk inherent in VC investing and the return profile of an early-stage startups portfolio. VC is a business of finding outliers. Hence, every company in the portfolio needs to have the potential to become that outlier. How big an outlier a VC fund needs to generate decent returns for its investors, is a function of that fund's size.
See our Principles page to get a better taste of what we're after and what we believe in.
04
What is the typical investment amount?
Initial investments range from PLN 0.5m to PLN 3m.
We reserved half of the fund for follow-ons to invest up to PLN 5m per company.
05
How can we pitch our company?
Please use the "Send us our deck" link, which will take you to our deck submission form on Notion.
06
Are you investing in Polish companies only?
No, we can also invest in companies that are domiciled in the European Economic Area (EU 27 + Iceland, Liechtenstein and Norway) and the UK.
07
Can you lead the round?
Yes, gladly.
08
Are you open to co-investments?
Very much so. We're also happy to bring in some angels from our network to the deal.