Erste Group invests in Polish innovation fund
Published
The Austrian Erste Group is the first private bank to invest in the Polish fund "Innovate PL Fund of Funds". The fund has a volume of 680 million euros. The investment shows that the bank has a strong interest in the Polish market for innovation and start-ups.
A "fund of funds" is an umbrella fund. This means that it does not invest directly in individual companies, but instead gives money to other investment funds. These funds then usually support young and growing companies. In this way, more capital and know-how are meant to flow into the economy.
Erste Group board member Bosek explains in a report why the bank is betting on Poland. Poland has become one of the largest economies in Central Europe in recent years. The report also examines the role that Austrian funds play in this development.
The decision by Erste Group fits its strategy in Central and Eastern Europe. The bank is active in several countries in the region, including Austria, the Czech Republic, Slovakia and Hungary. For Austria, the investment is also economically important because it strengthens the connections between the markets.
Sources: Trending Topics
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