Awards Gala
June 22, 2026
Information provided by the nominee
Over the past 12 months, Bain Warsaw consultants have supported >27 projects for PE funds and portfolio companies in the CEE region including 13 projects for PSIK members. Our team has worked with both local and global clients throughout the deal cycle—ranging from GP strategy and commercial due diligence to post-acquisition strategy.
Information provided by the nominee
Baker McKenzie advised on six PE transactions in Poland involving current PSIK Full Members that ended with signing an agreement. Baker McKenzie’s Private Equity Practice is one of the leading PE teams in Poland. They support funds at every stage of the investment cycle, handling complex domestic and cross-border transactions.
Information provided by the nominee
BNP Paribas actively cooperates with global and regional PEs. In 2025, the bank was involved in 8 PE transactions in Poland, including 7
related to PSIK Members. In those 7 Bank acted as mandated lead arranger, additionally in some of them also facility agent and security agent roles. Total value of transactions exceeded PLN 9bn, with BNP share exceeding PLN 1.2bn.
Information provided by the nominee
CMS worked on 9 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. In 2025, CMS was the number one law firm in terms of the number of M&A transactions in Poland (according to Mergermarket), which allowed them to gather unique experience, they use to advise PE funds in Poland and CEE.
Information provided by the nominee
CVI completed 53 transactions with a total value of EUR 345 million across 5 countries. Since its inception, CVI has executed over 800 transactions with an aggregate value of EUR 3.3 billion. The firm also completed fundraising for its second institutional private debt fund, with the latest closing at EUR 262 million. In addition, the third edition of the Pathfinder programme—an educational initiative for female students—was held.
Information provided by the nominee
Deloitte was working on 38 PE/VC transactions in Poland, including also 21 transactions involving current PSIK Full Members. 18 transactions was succesfully signed, including 9 transactions for current PSIK Full members which was finalised with the succesful signing of an agreement.
Information provided by the nominee
Deloitte advised on 11 deals, 9 of which related to PE funds. 5 transactions involving PSIK members, i.e., the acquisition of Pan-Pek from Enterprise Investors, sale of Unity Group to V4C, Cobi to Resource Partners and Profi for ACP to Custodia Capital. In addition, Deloitte acted also as the lead M&A advisor on the sale of Callstack to Viking Global Investors – one of the most notable transactions on the Polish market in the past year, as well as securing debt financing for Baltisse and Momentum Global Ventures.
Information provided by the nominee
EY worked on 25 PE/VC transactions in Poland involving current PSIK Full Members, out of which 14 transactions ended with signing an agreement, 7 are ongoing and 4 has been abandoned. Additionally, EY advised on 2 PE/VC transactions not involving current PSIK Full Members (such as Advent, TDJ), out of which all ended with the signing of an agreement.
Information provided by the nominee
Gamut completed 3 PE/VC transactions in Poland involving current PSIK Full Members, and completed 3 other transactions (two involving global PE firms - H.I.G. Capital and Oaktree Capital Management). In 2025 Gamut sourced EUR 500m+ to its clients including in bespoke structures. Gamut also worked on several other transactions involving PSIK Full Members.
Information provided by the nominee
Greenberg Traurig worked on 10 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. Greenberg Traurig’s has the leading private equity practice in Poland and regularly advises on the most complex and sophisticated transactions on the market. The practice is consistently ranked as number one in Poland by Chambers Europe and EMEA Legal 500.
Information provided by the nominee
The sale of 100% of IAI Group shares for over PLN 1bn marks a record B2B SaaS exit in CEE and a successful transformation from a local leader into a regional e-commerce champion. The transaction attracted Montagu to Poland, strengthening the perception of the CEE region and the local PE market. For MCI Capital, this exit represents the highest realized gain, with a return exceeding 4x cash-on-cash.
Information provided by the nominee
For 32 years, Innova has been building a strong position in PE in CEE, effectively allocating capital and executing key transactions: the acquisitions of Proservice Finteco & Punkta Group, the exit from OSHEE, and acquisitions in Prime Label & United Clinics. The fund consistently creates value, remains a market leader, and sets industry standards while supporting portfolio company growth.
Information provided by the nominee
In 2025 INVL Asset Management successfully completed fundraising of EUR 410m into PEF II fund. INVL exited two companies Inmedica and MBL, with both investments returning more than 1.0x cost of the entire BGSF fund. Also closed three new investments - Pehart Group (a leading producer of paper hygiene products in Romania), EKT (Estonia’s largest waste management group) and Polmed (one of Poland’s largest healthcare groups).
Information provided by the nominee
Jet Investment divested Rockfin, the global #1 in auxiliaries for the energy segment. The company achieved 3x sales growth to EUR 230m and 4x EBITDA growth to EUR 33m, resulting in a return of more than 4x CoC and a 44.5% IRR. The fund maintained strong investment activity, completing 3 private equity acquisitions, 5 venture capital investments, and 2 real estate acquisitions across the region. In addition, Jet Investment launched a new PE fund, Jet 4, with a target size of EUR 300–350m.
Information provided by the nominee
mBank cooperates with PE/VC industry arranging / providing debt financing (senior loans, mezzanine, bonds, corporate financing). In 2025, the bank worked on 19 PE/VC transactions (in 17 acting as a lead arranger) involving current PSIK Full Member: 12 with portfolio companies supporting their growth (including acquisitions), 6 LBO transactions. In 1 transaction, the bank also supported the exit of the fund.
Information provided by the nominee
BSGF Fund managed by INVL Asset Management invested in a minority stake in MBL in 2020 alongside the founding family. After a 5-year holding period, the fund exited the investment through a seconary sale to MidEuropa. During the holding period MBL's EBITDA nearly trippled and the company became a leading European manufacturer of equipment and components for assisted mobility, rehabilitation and aged-care equipment.
Information provided by the nominee
In 2025 MFW Fiałek advised on 17 PE transactions involving members of PSIK, including 7 that ended up signing the agreement. In total, MFW Fiałek advised on nearly 120 M&A/PE and VC, with private equity projects accounting for approximately 40%. A total value of 2025 transactions exceeded PLN 6 billion. MFW Fiałek is a competent, effective, and efficient advisor in PE transactions, as evidenced by the growing number of PE deals. The firm has experience across the full spectrum of PE transactions.
Information provided by the nominee
OC&C’s Polish team is a trusted partner to private equity investors in Poland and across CEE, delivering 20+ high-impact projects in the past year, including 10 involving PSIK members. They support both local and global funds across the full deal lifecycle—from commercial due diligence to value creation and exit. In the last 12 months alone, they advised on targets worth over €10B.
Information provided by the nominee
PKO Bank Polski worked on 8 PE/VC transactions in Poland involving current PSIK Full Members. In 7 transactions, the bank acted as lead arranger. PKO BP is proud to have supported their clients and their portfolio companies in achieving strategic goals by providing debt financing.
Information provided by the nominee
PwC M&A team delivered another exceptional year, advising on a market-leading 19 transactions with a total value of nearly PLN 5.0bn. A record number of 11 deals involved top-tier private equity sponsors (e.g. MCI, Jet Investment, Enterprise Investors, Penta Investments, Castik Capital, Montagu, Capmont, and TEP Capital), including 2 involving PSIK members- two landmark private equity exits IAI and Rockfin.
Information provided by the nominee
PwC delivered 25 PE transactions in Poland, including 15 high-profile deals with PSIK members and their portfolio companies – Abris Capital, CVC, Enterprise Investors, Jet Investment, Mid Europa Partners. Of these, 9 completed, 4 in progress, 2 not completed. Beyond PSIK, PwC advised on 10 additional PE transactions with firms including Apax, Corsair, Montagu, Penta, and Warburg Pincus.
Information provided by the nominee
In 2022, Jet Investment acquired Rockfin, the supplier of mission-critical systems for the energy industry. New products and services, as well as international expansion, resulted in a 3x increase in sales and a 4x increase in EBITDA. By transforming the company from a local champion to a global #1 in its segment, Jet Investment achieved a return of more than 4x on its initial investment, translating to a 44.5% IRR.
Information provided by the nominee
Rymarz, Zdort, Maruta, Wachta, Gasiński, Her i Wspólnicy sp.k. worked on 7 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. Advising PE funds is a cornerstone of RZM’s business. Their experience and expertise in this field have earned RZM a stellar market reputation and have led to their participation in the most prestigious deals.
Information provided by the nominee
The acquisition of a 70% stake in Thulium, a SaaS platform providing a unified omnichannel customer care system for SMEs, in 2022 was Spire Capital Partners' inaugural investment. Following a three-year holding period, Spire exited to SALESmanago, a portfolio company of Perwyn and Silver Tree Equity funds, realizing a 39% IRR.
Information provided by the nominee
Trigon worked on 9 PE transactions in Poland, including 7 involving current PSIK Full Members (CVC Capital Partners, Innova Capital, MidEuropa, Cerberus). In addition, Trigon advised on transactions involving an Associate Member (PFR) and one sponsor not associated with PSIK (Corsair Capital) all of which resulted in signed agreements.
Information provided by the nominee
Over the past 12 months, Bain Warsaw consultants have supported >27 projects for PE funds and portfolio companies in the CEE region including 13 projects for PSIK members. Our team has worked with both local and global clients throughout the deal cycle—ranging from GP strategy and commercial due diligence to post-acquisition strategy.
Information provided by the nominee
Baker McKenzie advised on six PE transactions in Poland involving current PSIK Full Members that ended with signing an agreement. Baker McKenzie’s Private Equity Practice is one of the leading PE teams in Poland. They support funds at every stage of the investment cycle, handling complex domestic and cross-border transactions.
Information provided by the nominee
BNP Paribas actively cooperates with global and regional PEs. In 2025, the bank was involved in 8 PE transactions in Poland, including 7
related to PSIK Members. In those 7 Bank acted as mandated lead arranger, additionally in some of them also facility agent and security agent roles. Total value of transactions exceeded PLN 9bn, with BNP share exceeding PLN 1.2bn.
Information provided by the nominee
CMS worked on 9 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. In 2025, CMS was the number one law firm in terms of the number of M&A transactions in Poland (according to Mergermarket), which allowed them to gather unique experience, they use to advise PE funds in Poland and CEE.
Information provided by the nominee
CVI completed 53 transactions with a total value of EUR 345 million across 5 countries. Since its inception, CVI has executed over 800 transactions with an aggregate value of EUR 3.3 billion. The firm also completed fundraising for its second institutional private debt fund, with the latest closing at EUR 262 million. In addition, the third edition of the Pathfinder programme—an educational initiative for female students—was held.
Information provided by the nominee
Deloitte was working on 38 PE/VC transactions in Poland, including also 21 transactions involving current PSIK Full Members. 18 transactions was succesfully signed, including 9 transactions for current PSIK Full members which was finalised with the succesful signing of an agreement.
Information provided by the nominee
Deloitte advised on 11 deals, 9 of which related to PE funds. 5 transactions involving PSIK members, i.e., the acquisition of Pan-Pek from Enterprise Investors, sale of Unity Group to V4C, Cobi to Resource Partners and Profi for ACP to Custodia Capital. In addition, Deloitte acted also as the lead M&A advisor on the sale of Callstack to Viking Global Investors – one of the most notable transactions on the Polish market in the past year, as well as securing debt financing for Baltisse and Momentum Global Ventures.
Information provided by the nominee
EY worked on 25 PE/VC transactions in Poland involving current PSIK Full Members, out of which 14 transactions ended with signing an agreement, 7 are ongoing and 4 has been abandoned. Additionally, EY advised on 2 PE/VC transactions not involving current PSIK Full Members (such as Advent, TDJ), out of which all ended with the signing of an agreement.
Information provided by the nominee
Gamut completed 3 PE/VC transactions in Poland involving current PSIK Full Members, and completed 3 other transactions (two involving global PE firms - H.I.G. Capital and Oaktree Capital Management). In 2025 Gamut sourced EUR 500m+ to its clients including in bespoke structures. Gamut also worked on several other transactions involving PSIK Full Members.
Information provided by the nominee
Greenberg Traurig worked on 10 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. Greenberg Traurig’s has the leading private equity practice in Poland and regularly advises on the most complex and sophisticated transactions on the market. The practice is consistently ranked as number one in Poland by Chambers Europe and EMEA Legal 500.
Information provided by the nominee
The sale of 100% of IAI Group shares for over PLN 1bn marks a record B2B SaaS exit in CEE and a successful transformation from a local leader into a regional e-commerce champion. The transaction attracted Montagu to Poland, strengthening the perception of the CEE region and the local PE market. For MCI Capital, this exit represents the highest realized gain, with a return exceeding 4x cash-on-cash.
Information provided by the nominee
For 32 years, Innova has been building a strong position in PE in CEE, effectively allocating capital and executing key transactions: the acquisitions of Proservice Finteco & Punkta Group, the exit from OSHEE, and acquisitions in Prime Label & United Clinics. The fund consistently creates value, remains a market leader, and sets industry standards while supporting portfolio company growth.
Information provided by the nominee
In 2025 INVL Asset Management successfully completed fundraising of EUR 410m into PEF II fund. INVL exited two companies Inmedica and MBL, with both investments returning more than 1.0x cost of the entire BGSF fund. Also closed three new investments - Pehart Group (a leading producer of paper hygiene products in Romania), EKT (Estonia’s largest waste management group) and Polmed (one of Poland’s largest healthcare groups).
Information provided by the nominee
Jet Investment divested Rockfin, the global #1 in auxiliaries for the energy segment. The company achieved 3x sales growth to EUR 230m and 4x EBITDA growth to EUR 33m, resulting in a return of more than 4x CoC and a 44.5% IRR. The fund maintained strong investment activity, completing 3 private equity acquisitions, 5 venture capital investments, and 2 real estate acquisitions across the region. In addition, Jet Investment launched a new PE fund, Jet 4, with a target size of EUR 300–350m.
Information provided by the nominee
mBank cooperates with PE/VC industry arranging / providing debt financing (senior loans, mezzanine, bonds, corporate financing). In 2025, the bank worked on 19 PE/VC transactions (in 17 acting as a lead arranger) involving current PSIK Full Member: 12 with portfolio companies supporting their growth (including acquisitions), 6 LBO transactions. In 1 transaction, the bank also supported the exit of the fund.
Information provided by the nominee
BSGF Fund managed by INVL Asset Management invested in a minority stake in MBL in 2020 alongside the founding family. After a 5-year holding period, the fund exited the investment through a seconary sale to MidEuropa. During the holding period MBL's EBITDA nearly trippled and the company became a leading European manufacturer of equipment and components for assisted mobility, rehabilitation and aged-care equipment.
Information provided by the nominee
In 2025 MFW Fiałek advised on 17 PE transactions involving members of PSIK, including 7 that ended up signing the agreement. In total, MFW Fiałek advised on nearly 120 M&A/PE and VC, with private equity projects accounting for approximately 40%. A total value of 2025 transactions exceeded PLN 6 billion. MFW Fiałek is a competent, effective, and efficient advisor in PE transactions, as evidenced by the growing number of PE deals. The firm has experience across the full spectrum of PE transactions.
Information provided by the nominee
OC&C’s Polish team is a trusted partner to private equity investors in Poland and across CEE, delivering 20+ high-impact projects in the past year, including 10 involving PSIK members. They support both local and global funds across the full deal lifecycle—from commercial due diligence to value creation and exit. In the last 12 months alone, they advised on targets worth over €10B.
Information provided by the nominee
PKO Bank Polski worked on 8 PE/VC transactions in Poland involving current PSIK Full Members. In 7 transactions, the bank acted as lead arranger. PKO BP is proud to have supported their clients and their portfolio companies in achieving strategic goals by providing debt financing.
Information provided by the nominee
PwC M&A team delivered another exceptional year, advising on a market-leading 19 transactions with a total value of nearly PLN 5.0bn. A record number of 11 deals involved top-tier private equity sponsors (e.g. MCI, Jet Investment, Enterprise Investors, Penta Investments, Castik Capital, Montagu, Capmont, and TEP Capital), including 2 involving PSIK members- two landmark private equity exits IAI and Rockfin.
Information provided by the nominee
PwC delivered 25 PE transactions in Poland, including 15 high-profile deals with PSIK members and their portfolio companies – Abris Capital, CVC, Enterprise Investors, Jet Investment, Mid Europa Partners. Of these, 9 completed, 4 in progress, 2 not completed. Beyond PSIK, PwC advised on 10 additional PE transactions with firms including Apax, Corsair, Montagu, Penta, and Warburg Pincus.
Information provided by the nominee
In 2022, Jet Investment acquired Rockfin, the supplier of mission-critical systems for the energy industry. New products and services, as well as international expansion, resulted in a 3x increase in sales and a 4x increase in EBITDA. By transforming the company from a local champion to a global #1 in its segment, Jet Investment achieved a return of more than 4x on its initial investment, translating to a 44.5% IRR.
Information provided by the nominee
Rymarz, Zdort, Maruta, Wachta, Gasiński, Her i Wspólnicy sp.k. worked on 7 PE transactions in Poland involving current PSIK Full Members that ended with the signing of an agreement. Advising PE funds is a cornerstone of RZM’s business. Their experience and expertise in this field have earned RZM a stellar market reputation and have led to their participation in the most prestigious deals.
Information provided by the nominee
The acquisition of a 70% stake in Thulium, a SaaS platform providing a unified omnichannel customer care system for SMEs, in 2022 was Spire Capital Partners' inaugural investment. Following a three-year holding period, Spire exited to SALESmanago, a portfolio company of Perwyn and Silver Tree Equity funds, realizing a 39% IRR.
Information provided by the nominee
Trigon worked on 9 PE transactions in Poland, including 7 involving current PSIK Full Members (CVC Capital Partners, Innova Capital, MidEuropa, Cerberus). In addition, Trigon advised on transactions involving an Associate Member (PFR) and one sponsor not associated with PSIK (Corsair Capital) all of which resulted in signed agreements.
Information provided by the nominee
Balnord completed exits from pre-Balnord Fund I investments: TerraEye (20% IRR) and Tramag (5x MOIC, 21% IRR). Balnord Fund I oversubscribed its €70M target, reaching the €100M hard cap. The fund completed 8 new investments, deploying €16.2M. In its second year, Fund I achieved MOIC 1.42x, TVPI 1.27x (top 10% globally). 3 portfolio companies signed government contracts worth over €100M.
Information provided by the nominee
DLA Piper participated in 3 closed venture capital transactions, including 1 involving PSIK Full Members (the seed financing of Ingenix.AI by Inovo and OTB Ventures). In addition, the firm advised on transactions both at the VC fund investment level (PFR Ventures’ investment in Expeditions II) and at the exit stage (the exit of Atmos Ventures, whose main investor is PFR Ventures, from Oxford Ionics).
Information provided by the nominee
Kondracki Celej has strengthened its position in the Polish VC market. Over the past year, the firm worked on 15 venture capital transactions in Poland involving current PSIK members that resulted in signed agreements, including investments in Jutro Medical, Microamp and FlyFocus. In addition, the firm advised on other significant transactions in the Polish market, including Synerise
Information provided by the nominee
During the review period, KWKR worked on 7 VC transactions in Poland involving current PSIK Full Members, which ended with the signing of an agreement, covering early-stage and growth investments as well as co-investments with public-backed funds. KWKR consistently advised venture capital funds on complex Polish and international VC transactions, combining M&A, regulatory and fund structuring expertise.
Information provided by the nominee
In 2025, Movens Capital launched one of the largest early-stage funds in Poland (target: ~€60M, currently €43M—backed by EBRD and PFR Ventures, with ~2/3 coming from private investors). Its 25-company portfolio has raised €130M+ in follow-on rounds to date (~10x vs. entry). Top performers are growing 2–4x YoY, scaling AI-first solutions with the potential to become global category leaders.
Information provided by the nominee
OTB Ventures continued its conviction-led strategy with five new investments (Ingenix (in Poland), SPREAD, Plumerai, TwentyFour Industries, Tytan Technologies) and expanded geographically with a new Luxembourg office and 3 hires who are further expanding our reach into France and Benelux. Portfolio momentum remained strong, with ICEYE closing a €150m Series E and securing its first €1bn contract.
Information provided by the nominee
The exit of Quantee generated a 68% IRR within a 3-year value-creation period. Quantee, a provider of an AI-driven dynamic pricing engine for actuaries, was acquired by a global #1 provider of tech solutions for the insurance sector - Guidewire Software. This transaction positioned the fund in the top decile of 2020 vintage funds globally in terms of DPI (0.29 DPI generated from this transaction alone).
Information provided by the nominee
Radix expanded its portfolio by backing five deep-tech companies across dual-use, AI, biotech and micromachining, including Farsight Vision, a leader in AI-driven defense technologies. It scaled its 2024 vintage fund to over €50M, added top-tier IP expertise and access to the U.S. ecosystem, while Proteine Resources won a €9.5M EIC grant and Fresh Inset completed its first year of commercialization.
Information provided by the nominee
TerraEye is a deep-tech startup developing satellite-based AI solutions for critical minerals exploration, was acquired by International Resource Holding (UAE). From the moment of investment, Balnord actively supported the founder in operations, technology commercialization, and driving the strategic exit. The transaction generated 20.08% Gross IRR and raised the fund's DPI to 0.24x, top quartile.
Information provided by the nominee
The first success of Polish biotech. Commercialization of a scientific project from basic research through clinical trials, developed together with the Medical University of Warsaw. The sale of the first license to pharmaceutical company Solinea is only the beginning of the commercialization phase, already delivering 5x MOIC at 20.80% IRR.
Information provided by the nominee
Balnord completed exits from pre-Balnord Fund I investments: TerraEye (20% IRR) and Tramag (5x MOIC, 21% IRR). Balnord Fund I oversubscribed its €70M target, reaching the €100M hard cap. The fund completed 8 new investments, deploying €16.2M. In its second year, Fund I achieved MOIC 1.42x, TVPI 1.27x (top 10% globally). 3 portfolio companies signed government contracts worth over €100M.
Information provided by the nominee
DLA Piper participated in 3 closed venture capital transactions, including 1 involving PSIK Full Members (the seed financing of Ingenix.AI by Inovo and OTB Ventures). In addition, the firm advised on transactions both at the VC fund investment level (PFR Ventures’ investment in Expeditions II) and at the exit stage (the exit of Atmos Ventures, whose main investor is PFR Ventures, from Oxford Ionics).
Information provided by the nominee
Kondracki Celej has strengthened its position in the Polish VC market. Over the past year, the firm worked on 15 venture capital transactions in Poland involving current PSIK members that resulted in signed agreements, including investments in Jutro Medical, Microamp and FlyFocus. In addition, the firm advised on other significant transactions in the Polish market, including Synerise
Information provided by the nominee
During the review period, KWKR worked on 7 VC transactions in Poland involving current PSIK Full Members, which ended with the signing of an agreement, covering early-stage and growth investments as well as co-investments with public-backed funds. KWKR consistently advised venture capital funds on complex Polish and international VC transactions, combining M&A, regulatory and fund structuring expertise.
Information provided by the nominee
In 2025, Movens Capital launched one of the largest early-stage funds in Poland (target: ~€60M, currently €43M—backed by EBRD and PFR Ventures, with ~2/3 coming from private investors). Its 25-company portfolio has raised €130M+ in follow-on rounds to date (~10x vs. entry). Top performers are growing 2–4x YoY, scaling AI-first solutions with the potential to become global category leaders.
Information provided by the nominee
OTB Ventures continued its conviction-led strategy with five new investments (Ingenix (in Poland), SPREAD, Plumerai, TwentyFour Industries, Tytan Technologies) and expanded geographically with a new Luxembourg office and 3 hires who are further expanding our reach into France and Benelux. Portfolio momentum remained strong, with ICEYE closing a €150m Series E and securing its first €1bn contract.
Information provided by the nominee
The exit of Quantee generated a 68% IRR within a 3-year value-creation period. Quantee, a provider of an AI-driven dynamic pricing engine for actuaries, was acquired by a global #1 provider of tech solutions for the insurance sector - Guidewire Software. This transaction positioned the fund in the top decile of 2020 vintage funds globally in terms of DPI (0.29 DPI generated from this transaction alone).
Information provided by the nominee
Radix expanded its portfolio by backing five deep-tech companies across dual-use, AI, biotech and micromachining, including Farsight Vision, a leader in AI-driven defense technologies. It scaled its 2024 vintage fund to over €50M, added top-tier IP expertise and access to the U.S. ecosystem, while Proteine Resources won a €9.5M EIC grant and Fresh Inset completed its first year of commercialization.
Information provided by the nominee
TerraEye is a deep-tech startup developing satellite-based AI solutions for critical minerals exploration, was acquired by International Resource Holding (UAE). From the moment of investment, Balnord actively supported the founder in operations, technology commercialization, and driving the strategic exit. The transaction generated 20.08% Gross IRR and raised the fund's DPI to 0.24x, top quartile.
Information provided by the nominee
The first success of Polish biotech. Commercialization of a scientific project from basic research through clinical trials, developed together with the Medical University of Warsaw. The sale of the first license to pharmaceutical company Solinea is only the beginning of the commercialization phase, already delivering 5x MOIC at 20.80% IRR.
Andrzej Bartos
Senior Partner, Innova Capital
For continuous leadership and transformational impact on the private equity industry in Poland, and for enabling local institutional investors to access PE funds. As President of PSIK, he strengthened the industry’s position, promoted standards and ecosystem growth, activated investors, and helped drive the Innovate PL initiative.
Information provided by the nominee
Bioseco fully delivers on ESG principles by integrating renewable energy development with biodiversity protection. The company’s systems protect birds by reducing the risk of collisions with wind turbines while simultaneously improving the efficiency of wind energy generation. In 2025, Bioseco deployed 163 new bird protection systems, increasing the total number of turbines covered by its solutions to 406 across 7 countries. The company was awarded a Gold Medal by EcoVadis, placing it among the top 5% of companies worldwide in ESG performance.
Information provided by the nominee
Buglo, Poland’s largest playground manufacturer, became the first company in the CEE playground industry to measure its full carbon footprint (Scopes 1–3, including product-level assessment). The company voluntarily implemented CSRD reporting in compliance with ESRS standards and launched the EcoVadis certification process. Buglo also launched the Recycling Line — a range of playgrounds manufactured from recycled materials — supporting the circular economy. In addition the company educated more than 500 children on ecology, safe play, and first aid.
Tomasz Czechowicz
Managing Partner, CEO, MCI Capital
For a pivotal role in shaping the Polish PE/VC market and building a leading tech investment platform. For the exit of IAI Group to Montagu, the development of Answear, and the continued growth of MCI Capital. For identifying tech trends early, scaling companies, and strengthening Poland’s position internationally.
Michał Kędzia
Partner, Enterprise Investors
For the exit from Pan-Pek, the investment in Formeds, and long-term involvement in a student mentoring program. Michał is one of the most capable investors in Poland—decisive, charismatic, and known for a founder-first approach, providing strong support as an investor and advisor.
Information provided by the nominee
Optegra integrated Net Zero objectives and high-quality patient care into its long-term ESG strategy. The company established its emissions baseline and began implementing Net Zero reduction targets aligned with international climate standards. It also co-developed SmartLOAD — a solution used in cataract procedures that reduces surgical waste and packaging consumption. In addition, Optegra launched Iris, an AI assistant that improves access to care and the patient experience. The company was also recognised by The Times in the Best Places to Work ranking.
Andrzej Bartos
Senior Partner, Innova Capital
For continuous leadership and transformational impact on the private equity industry in Poland, and for enabling local institutional investors to access PE funds. As President of PSIK, he strengthened the industry’s position, promoted standards and ecosystem growth, activated investors, and helped drive the Innovate PL initiative.
Information provided by the nominee
Bioseco fully delivers on ESG principles by integrating renewable energy development with biodiversity protection. The company’s systems protect birds by reducing the risk of collisions with wind turbines while simultaneously improving the efficiency of wind energy generation. In 2025, Bioseco deployed 163 new bird protection systems, increasing the total number of turbines covered by its solutions to 406 across 7 countries. The company was awarded a Gold Medal by EcoVadis, placing it among the top 5% of companies worldwide in ESG performance.
Information provided by the nominee
Buglo, Poland’s largest playground manufacturer, became the first company in the CEE playground industry to measure its full carbon footprint (Scopes 1–3, including product-level assessment). The company voluntarily implemented CSRD reporting in compliance with ESRS standards and launched the EcoVadis certification process. Buglo also launched the Recycling Line — a range of playgrounds manufactured from recycled materials — supporting the circular economy. In addition the company educated more than 500 children on ecology, safe play, and first aid.
Tomasz Czechowicz
Managing Partner, CEO, MCI Capital
For a pivotal role in shaping the Polish PE/VC market and building a leading tech investment platform. For the exit of IAI Group to Montagu, the development of Answear, and the continued growth of MCI Capital. For identifying tech trends early, scaling companies, and strengthening Poland’s position internationally.
Michał Kędzia
Partner, Enterprise Investors
For the exit from Pan-Pek, the investment in Formeds, and long-term involvement in a student mentoring program. Michał is one of the most capable investors in Poland—decisive, charismatic, and known for a founder-first approach, providing strong support as an investor and advisor.
Information provided by the nominee
Optegra integrated Net Zero objectives and high-quality patient care into its long-term ESG strategy. The company established its emissions baseline and began implementing Net Zero reduction targets aligned with international climate standards. It also co-developed SmartLOAD — a solution used in cataract procedures that reduces surgical waste and packaging consumption. In addition, Optegra launched Iris, an AI assistant that improves access to care and the patient experience. The company was also recognised by The Times in the Best Places to Work ranking.
Andrzej Bartos
Andrzej Bartos has been working with Stowarzyszenie Mudita, an organisation supporting families and caregivers of people with disabilities. Thanks to Andrzej’s mentoring, Stowarzyszenie Mudita successfully carried out a leadership succession process and a broader strategic transformation — shifting from responding to day-to-day challenges toward conscious, long-term development planning. The organisation defined new strategic priorities, streamlined its structure, and implemented new financial management principles.
Rafał Bator
Rafał Bator has been working with the Fundacja Nagle Sami, an organisation supporting people experiencing grief and bereavement. Through this cooperation, the foundation streamlined its team management processes by introducing greater clarity in roles, responsibilities, and workflows. At the same time, the organisation began restructuring its financial management practices — improving budget management, diversifying funding sources, including developing commercial activities, and preparing the foundation’s first business plan.
Zygmunt Grajkowski
Zygmunt Grajkowski has been working with Stowarzyszenie PARS Ruch Onkologiczny, an organisation supporting cancer patients and their families. Through this cooperation, PARS Ruch Onkologiczny streamlined key areas of its operations — from strategic planning and financial management to brand consistency and communications. New budgeting and reporting tools strengthened the organisation’s financial stability. At the same time, the association implemented its flagship initiative — the National Oncology Volunteering Network — together with an educational platform and a system that connects patients with trained volunteers.
Monika Nachyła
Monika Nachyła has been working with the Fundacja Święty Mikołaj dla Seniora, an organisation supporting elderly residents of nursing homes. Through her cooperation with the foundation, the organisation developed a five-year strategy, translated it into concrete implementation initiatives, and launched its execution on a broad scale. She introduced operational standards that improved the team’s efficiency, as well as methodologies for business cooperation and reporting. Her support also included executive coaching and assistance in managing crisis situations.
Andrzej Bartos
Andrzej Bartos has been working with Stowarzyszenie Mudita, an organisation supporting families and caregivers of people with disabilities. Thanks to Andrzej’s mentoring, Stowarzyszenie Mudita successfully carried out a leadership succession process and a broader strategic transformation — shifting from responding to day-to-day challenges toward conscious, long-term development planning. The organisation defined new strategic priorities, streamlined its structure, and implemented new financial management principles.
Rafał Bator
Rafał Bator has been working with the Fundacja Nagle Sami, an organisation supporting people experiencing grief and bereavement. Through this cooperation, the foundation streamlined its team management processes by introducing greater clarity in roles, responsibilities, and workflows. At the same time, the organisation began restructuring its financial management practices — improving budget management, diversifying funding sources, including developing commercial activities, and preparing the foundation’s first business plan.
Zygmunt Grajkowski
Zygmunt Grajkowski has been working with Stowarzyszenie PARS Ruch Onkologiczny, an organisation supporting cancer patients and their families. Through this cooperation, PARS Ruch Onkologiczny streamlined key areas of its operations — from strategic planning and financial management to brand consistency and communications. New budgeting and reporting tools strengthened the organisation’s financial stability. At the same time, the association implemented its flagship initiative — the National Oncology Volunteering Network — together with an educational platform and a system that connects patients with trained volunteers.
Monika Nachyła
Monika Nachyła has been working with the Fundacja Święty Mikołaj dla Seniora, an organisation supporting elderly residents of nursing homes. Through her cooperation with the foundation, the organisation developed a five-year strategy, translated it into concrete implementation initiatives, and launched its execution on a broad scale. She introduced operational standards that improved the team’s efficiency, as well as methodologies for business cooperation and reporting. Her support also included executive coaching and assistance in managing crisis situations.
