Phenomind Ventures aims for high returns on capital

2008-04-10 00:00

publikacja
2008-04-10 00:00

"We want to be a leading venture capital fund, in terms of the quality of projects, speed in acquiring them, size of the fund, but most of all - its results," said Sebastian Kulczyk, president of Phenomind Ventures. Piotr Pajewski, managing director of the fund, went on to say that the company's objective is to post at least a 30% return on investment annually - a far greater result than that of its competitors. The fund will be focused on new technologies, as "We know less about raw materials. We want to be perceived not as a group of financial experts who ask questions about the figures, but as experts who can notice a firm's potential and have skills to develop it," said Sebastian Kulczyk. Piotr Pajewski added that Poland is renown for its IT experts and thus the fund intends to exploit this potential. Phenomind Ventures has not set a minimum investment threshold, as it will all depend on the potential of a firm, but for sure the fund will have an impact on operational activities. The fund so far has one investor, which is Kulczyk Holding, but it will look for international providers of capital and within one year its funds may even reach zł.1 billion. The first investment should be concluded within a couple of days. (Puls Biznesu, pp. 1, 6-7) M.M.

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Phenomind Ventures aims for high returns on capital

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