Warsaw-based Cogito Capital has completed its first closing of its Cogito Fund I at €55 million. The fund will focus on late- and growth-stage B2B software, fintech and mobility startups in the CEE.
Cogito will predominantly invest in Series B and C tech companies operating in Central Europe that have the potential to expand or are already growing in other European markets and the USA. In recent years Central European countries have increasingly originated global success stories such as UIPath, TransferWise, Taxify, CD Project, Skype, and AVG. Cogito intends to capitalize on this growing pipeline of attractive investment opportunities, and with a team based in Warsaw and New York, the VC firm is well poised to support portfolio companies in their international expansion.
The European Investment Fund as the main investor in the new fund, along with the PFR KOFFI Fund and the PFR NCBR CVC Fund managed by the Polish Development Fund (PFR), as well as other professional investors.
Cogito Capital was founded in 2018 by Sylwester Janik and Martin Jasinski, venture capital and corporate executives with 25 years of experience in the international tech and VC industry.
“We are delighted to be launching our first fund with such strong institutional support from the EIF as the anchor investor and the PFR as the local investor, making Cogito the first such case for CEE-focused growth-stage fund,” said Cogito’s General Partner, Sylwester Janik.
“We are happy to accompany Cogito Fund I in its search for innovative companies in Poland and Central Europe, a region with strong potential in innovation and creativity,” said EIF Chief Executive Pier Luigi Gilibert. “As the leading provider of venture capital in Europe, the EIF is convinced that supporting startups as they seek to establish themselves and grow is key to ensuring that their work can have a material impact on the economy. We are also happy to team up with the Polish Development Fund in financing the future protagonists of the Polish economy.”
Cogito has already made its first investment in London-based MarketInvoice, Europe’s largest online invoice finance platform, joining its €30 million Series B round in January. The Cogito team will support the company in the launch of a “cross-border fintech-bank partnerships” program and expansion into new markets in Europe, including Poland.