- The National Centre for Agricultural Support (KOWR) has taken over a majority stake (99.93%) in GPW Ventures Asset Management sp. z o.o. ASI S.K.A. (Fund), created and managed by its only general partner – GPW Ventures Asset Management sp. z o.o. (Manager)
- After registering the changes made to the statute, the fund will use the name – GPW Ventures Asset Management sp. z o.o. KOWR Ventures ASI S.K.A.
- The value of new shares issued to KOWR amounts to PLN 75 million in 2023 and is expected to reach the target level of PLN 225 million in the years to come (PLN 75 million in 2023, PLN 50 million in 2024, PLN 50 million in 2025 and PLN 50 million in 2026).
- The annual management fee proposed by GPW Ventures Asset Management sp. z o.o. is calculated as a fixed percentage of the funds paid into the Fund by KOWR (Shareholder) and will be used to cover all expenses related to its operations
- The management fee corresponds to market standards in the venture capital sector and is the primary source of income for GPW Ventures Asset Management sp. z o.o.
- The cumulated value of the management fee charged by GPW Ventures Asset Management sp. z o.o. over the years 2023 – 2026 will amount to approximately 5% of the Fund’s target capitalisation
The fund, provisionally called KOWR Ventures, becomes a reality. The National Centre for Agricultural Support (KOWR) has acquired a majority stake in GPW Ventures Asset Management Limited Liability Company ASI Joint-Stock Limited Partnership, established by GPW Ventures Asset Management, a company belonging to the GPW Capital Group.
The value of new shares issued to KOWR this year is PLN 75 million. Ultimately, by 2026, it is expected to amount to PLN 225 million (PLN 75 million in 2023, PLN 50 million in 2024, PLN 50 million in 2025 and PLN 50 million in 2026). Thanks to the increase in capitalisation, the company will soon be able to start investment activities.
“From the new year, we will be looking for projects that fit into our strategy of building an agrotech fund. The fund has a hybrid structure – it will work as both a fund-of-funds and a co-investment fund. We will be able to capitalize both funds whose strategy is close to operating in the agrotech sector, and we will be looking for projects that we could directly capitalize (…) “ said Piotr Gębala, President of GPW Ventures.
According to estimates, the company plans to invest in about 40-50 agri-tech companies, developing or implementing technologies to improve efficiency or crop protection or to reduce food waste. It is assumed that some of them, at the next stage of development, will seek financing through a public offering, thus increasing the number of issuers listed on the Warsaw Stock Exchange.
The annual management fee proposed by GPW Ventures Asset Management sp. z o.o. is calculated as a fixed percentage of the funds paid into the Fund by KOWR (Shareholder). It will be used to cover all costs associated with its operations. These include costs of project evaluation, building an investment portfolio and costs of exiting individual investments. The management fee is in line with market standards in the venture capital sector and is the main source of revenue for GPW Ventures Asset Management sp. z o.o. The cumulated value of the management fee charged by GPW Ventures Asset Management sp. z o.o. over the years 2023 – 2026 will amount to around 5% of the Fund’s target capitalization.
