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Founded in 2016 by Maciej Balsewicz, bValue Fund is a Warsaw, Poland-based venture capital firm investing in seed and growth equity rounds for tech-enabled businesses across Central and Eastern Europe. The firm manages a €100 million growth equity fund, which reached a €72 million first close in 2022, alongside two prior early-stage funds totaling €20 million. Targeting minority stakes in profitable companies, the firm typically allocates €5 million to €15 million per transaction across a projected portfolio of eight to twelve enterprises. Across its history, the firm has completed 36 investments and 12 exits, including the sale of portfolio company Renters.pl to Enterprise Investors, generating an 8.0x return on investment. Operating with partners Michał Bartosz and Leszek Orłowski, the firm also provides operational advice through its bValue Bench network of over fifty industry experts.
Key people at bValue Fund.
The firm targets both venture and growth stage investments, as evidenced by dedicated sections on its official website.
bValue Fund's headquarters are located in Warsaw, Mazowieckie, Poland, and it also maintains an office in the Netherlands.
The firm targets both venture and growth stage investments, as evidenced by dedicated sections on its official website.
bValue Fund's headquarters are located in Warsaw, Mazowieckie, Poland, and it also maintains an office in the Netherlands.
bValue Fund operates as a specialized growth equity investment firm, actively seeking to partner with technology and tech-enabled businesses. The firm's model involves providing both financial capital and strategic support to its portfolio companies, aiming to facilitate their development and market expansion.
A core aspect of bValue Fund's strategy is its geographic concentration on the Central and Eastern European (CEE) region. This regional focus allows the firm to develop specialized expertise and networks relevant to the local market conditions and entrepreneurial landscape.
The firm categorizes its investment activities into distinct venture and growth stages. This dual focus suggests an interest in supporting companies from early-stage development through more mature expansion phases, adapting its investment thesis to the specific needs of each business.
bValue Fund maintains its primary operational base in Warsaw, Mazowieckie, Poland, serving as its headquarters. Additionally, the firm has an operational presence with an office located in the Netherlands, further extending its reach within the European investment landscape.
Recent activity for bValue Fund includes a period of significant momentum, with the firm closing four new deals and deploying over 30% of its capital in 2025. This indicates an active investment pace and a commitment to its strategic growth objectives.
bValue Fund has 1 tracked investment across 1 company. The latest tracked deal is $3.3M Seed in Demoboost in February 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 12, 2026 | Demoboost | $3.3M Seed | Digital Ocean Ventures Starter | RIO ASI |
Key people at bValue Fund.
