Warsaw, Poland-based Joint Polish Investment Fund Management (JPIF) held the first closing of its new venture capital fund, at $ 42m.
Backed and supported by The National Centre for Research and Development (NCBR), an executive agency of the Ministry of Science and Higher Education of Poland, Joint Polish Investment Fund I is the first institutional venture capital vehicle operating out of Poland that is completely dedicated to life science investments.
It will invest in early- and mid-stage companies with a close relationship to Poland and Central and Eastern Europe with strong growth, relatively short holding periods and high return potential e.g. companies in the area of medical technology, enabling technology or mobile health.
JPIF is led and managed by Dr. Marek Orłowski, one of the founders of Nepentes SA, which was sold for EUR 105m to Sanofi Aventis in 2007 and a well-known Polish business angel, Kreske Nickelsen, venture capital industry veteran working for 3i Group and Aescap, and Dr. Axel Polack, former General Partner of TVM Capital, Anna Aranowska, a pharmaceutical and life science industry veteran.