Lithuanian fund Contrarian Ventures raises investment from Polish PFR Ventures

Polish fund of funds PFR Ventures invests in four green venture capital and growth equity funds, including Lithuanian-based Contrarian Ventures. The other funds are Paris-based private equity fund Eurazeo, venture fund BeyondNetZero (which is under the management of the US equity platform General Atlantic), and Polish venture fund Montis Capital. The total amount of investment of PFR Ventures is €55M. The deal occurred at the end of 2022. This financing will stimulate capital investments in Polish climate technological companies. 

Contrarian Ventures is going to increase its presence in Poland, investing in Polish companies and hiring resident Venture Partners. 

PFR Ventures joins Contrarians’ second fund, launched in 2022 with a target capitalization of €100M. As PFR Ventures mentioned, Contrarian recently reached the second close mark of its fund and expects to reach its fund target this quarter. The fund plans to close the second fund by the end of 2023.

Contrarian Ventures is a seed-stage venture company focused on investment in climate startups from Europe and Israel. The fund usually invests around €1,5M to €4M. Contrarian VC was established in Vilnius in 2017. Currently, it has offices in Berlin and London.