Tauron Polska Energia S.A. creates two CVC funds

On 13 June, Tauron signed two investment agreements creating corporate venture capital investment funds. They will be the first of their type on the Polish market aimed at investing in innovative solutions and enterprises in response to market challenges in the areas of the Tauron group’s operations.

In an agreement concluded under the Polish Development Fund National Centre for Research and Development Corporate Venture Capital (CVC) programme, Tauron together with Polish Development Fund and EEC Ventures created a CVC fund with declared capitalisation of PLN 160 million. The fund will invest in companies developing innovative technologies in the energy sector. This is the first investment fund of its type in Poland.

Moreover, also with the participation of Tauron, the Polish Development Fund and EEC Ventures, under the Polish Development Fund Starter programme, an investment fund with target capitalisation of PLN 50 million was set up to invest in innovative enterprises creating solutions for the energy sector that are at an early stage of development.

DZP was Tauron’s legal adviser in the project. As regards state aid, the advisers were Anna Glapa, Partner, and Aneta Włoszek, Associate, while Marta Balcerowska, Associate, advised on competition law aspects. Support in all other legal aspects, including the structures of the two funds, corporate governance solutions, and negotiating the investment agreements and other transaction documentations, was provided by Damian Szczygielski, Senior Associate, and – as the head of the advisory team – Paweł Pioruński, Partner.  

On behalf of the advisory team, we would like to thank all those involved in the project at Tauron, the Polish Development Fund and EEC Ventures. We are sure that the efforts of all the parties creating the two funds will bring new quality to the Polish venture capital market.