Private equity and venture capital investments are more than just buying and selling shares – they are about strategic value creation for companies. The PSIK podcast “Private Equity about Value Creation” explores how PE/VC funds drive company growth, achieve success, and how the industry has evolved over the years.
In this 10-part series, Krzysztof Domaradzki interviews experienced PE/VC investors about their strategies, challenges, and best practices.
How to exit via the New York Stock Exchange
Guest:
Dariusz Prończuk
Enterprise Investors
- Dariusz Prończuk is a managing partner at Enterprise Investors, the oldest and one of the largest private equity firms in Poland.
- Enterprise Investors has invested over €2.3 billion in nearly 160 companies from Poland and the Central and Eastern European region, through ten funds.
- Dariusz has led more than 25 investments, including those in Lukas Bank, Comp Rzeszów (now Asseco), Kruk, Magellan, Unilink, and AVG Technologies.
- We discuss some of Enterprise Investors’ secrets, various exit strategies, and taking companies public, including on the New York Stock Exchange.
How to create a fund that's studied at Harvard
Guest:
Krzysztof Kulig
Innova Capital
- Krzysztof Kulig is a senior partner at Innova Capital, one of Poland’s largest private equity investment firms.
- Innova Capital has launched seven funds, including its latest €407 million fund in 2024. It has reached a total capitalization of nearly €1.6 billion and invested in nearly 70 companies.
- Krzysztof has led or overseen investments in Polcard, Meritum, Expander, Provus, Pekaes, Polish ePayments, and Netopia.
- We discuss succession planning (including within the fund itself), fundraising in uncertain times, and the challenges of Poland’s PE market.
How managers become entrepreneurs
Guest:
Agnieszka Pakulska
Avallon MBO
- Agnieszka Pakulska is a partner at Avallon MBO, a private equity fund specializing in management buyouts since 2007.
- Avallon MBO has raised over €300 million for investments, which have included such past and present portfolio companies as Good Food, Organic Farma Zdrowia, Wosana, and S’portofino.
- At Avallon Agnieszka has progressed from investment analyst to partner, and the investments she has overseen include Velvet, from which the fund made one of its most successful exits, generating a 13x return on capital.
- We discuss managers transitioning into entrepreneurs, growing FMCG businesses, and the challenges women face in the PE industry.
How to Spot Tech Gems
Guest:
Tomasz Czechowicz
MCI Capital
- Tomasz Czechowicz is the founder and managing partner of MCI Capital, an investment firm specializing in technology investments since 1999.
- MCI has executed over 100 transactions, generating over €1 billion from exits. Its portfolio has included such companies as eSky, Morele.net, Answear, Netia, Mall, IAI, and ATM.
- Czechowicz is one of Poland’s best recognized investors who frequently appears in Forbes’ ranking of the 100 Richest Poles, and a passionate athlete.
- We discuss the differences between VC and PE investments, the art of building value in tech companies, and the benefits of running a publicly traded fund.