New wrocław-based venture capital fund secures pln 84 million for investments
Hard2beat is a newly established venture capital fund, founded at the beginning of this year by Wrocław-based entrepreneurs and technology investors. Its mission is to support early-stage DeepTech startups developing software-driven solutions. Hard2beat is committed to empowering ambitious and determined entrepreneurs who are focused on achieving long-term business success.
At a press conference last week, attended by representatives from the Ministry of Funds and Regional Policy and the Bank Gospodarstwa Krajowego, the launch of four new venture capital funds under the PFR Starter program was officially announced. Among them was Hard2beat, managed by Maciej Zawadziński, Maciej Frankowicz, and Konrad Trzyna.
Successful fundraising
The total capitalization of the fund will amount to PLN 84 million, consisting of PLN 23.4 million from 30 private investors and PLN 56.5 million from PFR Ventures. This amount is supplemented by a PLN 4.1 million contribution from the fund’s own team.
According to the Hard2beat management, the fundraising process was very successful. It took place from mid-January to the last days of February this year.
“Initially, we planned to raise PLN 12 million from private investors, as this was the minimum required to qualify for the PFR Starter program. However, our offer was very well received by investors, and in the end, we raised almost twice as much as expected.”
— Konrad Trzyna
Investors are primarily tech entrepreneurs
Most of the fund’s investors are entrepreneurs, accounting for 80% of the total, with four out of five being technology entrepreneurs. The remaining investors are experienced financial backers.
“We understand that their decisions are largely based on their trust in us as fund managers.”
– Konrad Trzyna
According to Maciej Frankowicz, the launch of the fund would not have been possible without PFR Ventures’ investment. The process also required going through an extensive application procedure.
“PFR thoroughly analyzed our proposal, assessed our investment experience, conducted a reputation check, and verified the accuracy of the information we provided in our offer.”
– Maciej Frankowicz
Investing in over 20 companies
Over the next four years, Hard2beat plans to invest in more than 20 pre-seed and seed-stage companies. The most promising startups will have the opportunity to secure up to PLN 8 million from the fund across multiple funding rounds. A significant portion of the investment budget will be allocated to follow-on investments.
“We are not focused on a specific industry, but naturally, there are sectors where we feel more confident or see greater potential, such as cybersecurity, space technology, AI, and IoT.”
– Maciej Zawadziński
According to Zawadziński, DeepTech projects, where software plays a crucial role, will be particularly favored.
“We want the companies we invest in to have a unique technological advantage that is difficult to replicate.”
– Maciej Zawadziński
Building a company is a marathon, not a sprint
The fund will evaluate projects not only based on their investment attractiveness but also on the qualities of the entrepreneurs behind them.
“We are looking for founders who understand that building a company is a marathon, not a sprint. We value people who do not crumble under pressure, are prepared for challenges, and can endure the ups and downs that will inevitably come their way.”
– Maciej Zawadziński
The Hard2beat partners anticipate making their first investments by December this year.
