In January 2024, Warsaw University of Technology launched a new venture capital fund, WUT IF, to support early-stage deeptech startups in Poland. The fund plans a first close of $5 million, Sifted.eu reports.
How will WUT IF operate?
- In the next three to five years, WUT Investment Factory intends to support 18 startups — eight at pre-seed and 10 at seed stages — with tickets ranging from $120,000-260,000. It’s also an evergreen fund, as it provides more relaxed time frame on returning money to LPs.
- The team plans a first close of $5 million from external LPs and it doesn’t want to rely on money from the university. WUT IF’s will focuses on deeptech startups originating from universities (across the whole of Poland, not only from Warsaw University of Technology).
- The main thesis of the fund is: each team has to be founded by university graduates and will stay in Poland.
We’re offering an alternative: through our contacts with the school we have direct contact with world leading research teams. If there’s a synergy between a team and a startup then we can quickly help to solve this technical issue,
Robert Sitnik, general partner of WUT IF, commented.
- Apart from the capital, the VC fund will also provide the startups with expertise and access to university’s scientists and research groups.
About Warsaw University of Technology
The Warsaw University of Technology is one of the leading institutes of technology in Poland and one of the largest in Central Europe. The university is the co-founder of the VC fund, but it doesn’t have any power over its operations. The VC fund claims it will take from 5 to 20% equity in startups, and insists that it’ll be in the line with the market.
