Enterprise Investors closes debut venture fund

The Central and Eastern Europe-focused private equity firm has raised €100m from investors including the George Kaiser Family Foundation for tech investments in Poland and other countries in the region.

Enterprise Investors, the largest private equity firm exclusively focused on Central and Eastern Europe, has closed its first venture fund on €100 million ($143 million).

The firm, which has raised six private equity funds, established a four-person venture team, which is supported by the firm’s senior partners.

The fund’s limited partners include international financial institutions that have worked with Enterprise Investors over its 18-year history, the firm said. Its largest LP is the George Kaiser Family Foundation.

Enterprise Venture Fund I will make investments of €1 million to €5 million in technology sector “as well as in traditional sectors”. It will predominantly invest in Poland during the first year of its life, and then expand to other countries in the region, the firm said.

“We raised the new fund to meet the huge demand among smaller companies for private equity/venture capital financing,”, Jacek Siwicki, the firm’s president, said in a statement.

Enterprise Investors closed its most recently private equity fund, Polish Enterprise Fund VI on €658 million in October 2006. At the time, it was the region’s biggest fund ever raised, but has been surpassed this year by Advent International’s €1 billion Central and Eastern Europe fund.