Hedgehog Fund

Hedgehog Fund is an early stage business angels / venture capital fund operating in Warsaw, Poland Our focus is on information, communication and technology (ICT) new ventures that demonstrate the potential to be scaled internationally or acquired by industry leaders. Dependent on exit opportunities we may continue to invest in the new ventures through later stages of financing. Once we have committed to an investment we proactively connect with entrepreneurs and bring together all the necessary resources to catalyze new venture growth whilst simultaneously reducing new venture risk. Our investing principles: - We invest in people with ready projects at early stage (having a prototype, platform and/or first clients as necessary minimum) - We do not invest in idea (only) - We invest in projects with up to 6 years perspective but we look at the investments opportunistically (we could have an early exit) - We invest up to (max.) PLN 1 m per project in return for minority equity stake - We build the portfolio of approx. 10-15 projects - Our initial investment aims at approx. 15-30% of shares of the project - We do investments in tranches trying to set up realistic goals to be reached by founders - We try to co-invest to minimize the risk

Marcin Borecki

Partner

Marcin Zabielski

Managing Partner

13 past transactions

Versum

Seed Round in 2016
Versum operates a comprehensive SaaS platform aimed at enhancing the management of salons and spas across 56 countries. With over 8 million customers and 34,000 beauty and hair specialists utilizing the platform, it has established a significant global presence, notably in regions such as the UK, Ireland, Poland, Mexico, Spain, and Brazil. The platform facilitates efficient management by streamlining personnel oversight, automating marketing efforts, and monitoring resources and product inventories. Additionally, Versum offers valuable insights for beauty professionals, enabling them to save time, attract new clients, and optimize their operations. The company's expanding marketplace further enriches the customer experience, positioning Versum as a pivotal player in the beauty and hair industry.

Right Hello Sp. z o.o.

Seed Round in 2016
RightHello helps you boost and scale up your B2B sales. They deliver you contacts to decision makers of companies you want to reach, then outreach each of them with custom pitch via email and social media. Your sales team simply picks up conversations with leads and work on closing the deal.

Posbistro

Venture Round in 2016
POSbistro Sp. z o.o., founded in 2012 and based in Krakow, Poland, specializes in developing mobile point-of-sale software tailored for the hospitality industry, including restaurants, bars, cafes, and food trucks. The company's application enhances sales mobility and customer service by utilizing tablets for efficient order management. It provides real-time analytics and warehouse control, enabling users to access data stored in the cloud and ensuring secure transactions. POSbistro aims to simplify business operations for its clients, making them more efficient and financially viable.

Farmer Direct

Seed Round in 2016
Farmer Direct sells vegetables and fruits online. It began operation in 2013, with its headquarters in Warsaw in Poland.

Preply

Seed Round in 2016
Preply Inc. is an online marketplace that connects students and tutors for personalized tutoring services. Launched in 2012 and based in Brookline, Massachusetts, the platform facilitates the engagement of over 50,000 tutors with millions of learners worldwide. Preply allows tutors to create and offer subject-specific packages, which include tutoring sessions and supplementary learning materials. Students can refine their search by filtering options based on price, duration, and tutor credentials, including verified status. The platform supports various standardized test preparations, such as SAT, ACT, TOEFL, GMAT, GRE, and IELTS, primarily through online sessions. Since its inception, Preply has facilitated more than 15 million lessons, emphasizing the importance of live engagement in effective learning. The company employs over 400 individuals from diverse backgrounds across locations in Barcelona, Kyiv, and the United States, fostering a culture of experimentation and data-driven learning.

Skilltelligence

Seed Round in 2016
Skilltelligence is a self-service platform that provides immediate access to reliable and up-to-date market information through a network of profiled contractors across Poland. The platform focuses on crowdsourcing market research, allowing users to verify marketing agencies and obtain effective market insights. By leveraging a wide range of data sources, Skilltelligence aims to deliver trustworthy market data that supports informed decision-making for businesses.

Silvair

Seed Round in 2015
Silvair, Inc. is a technology company headquartered in Krakow, Poland, specializing in software solutions for the Internet of Things, particularly in the smart lighting sector. Founded in 2013, Silvair focuses on developing Bluetooth-based interoperable wireless solutions for lighting manufacturers and providers of intelligent building management systems. The company's offerings include firmware for smart lighting components produced by third-party manufacturers, as well as tools for configuring, controlling, and managing lighting infrastructure. Additionally, Silvair provides analytics tools to utilize data collected from sensors integrated into lighting systems, enhancing the overall lighting experience. Its primary markets are North America and Western Europe.

Kekemeke

Venture Round in 2015
Kekemeke is a mobile marketing tool focused on loyalty programs, established on February 1, 2013, and headquartered in Warsaw, Poland. The company has developed a loyalty application that enables restaurants, cafés, and local merchants to implement smartphone-based loyalty programs. This application allows consumers to collect virtual stamps and receive rewards, thereby enhancing their dining experiences. By incentivizing staff to deliver improved service, Kekemeke simplifies the process for users to earn gifts at their favorite establishments, making loyalty rewards more accessible and convenient.

Fuero Games

Seed Round in 2015
Fuero Games is a computer games development studio that specializes in creating games for mobile devices and websites. The company has developed notable titles, such as the mobile version of "Witcher" and its own strategic game, "Age of Cavemen." In addition to mobile game development, Fuero Games also focuses on cross-platform web and mobile gaming, offering services that include the development and publishing of games for personal computers and consoles, as well as application testing automation. This approach allows game enthusiasts to engage with a variety of gaming experiences across different platforms.

Notatek.pl

Venture Round in 2013
Notatek.pl is an online platform dedicated to enhancing academic knowledge and professional skills for students across Poland. The website aims to create a comprehensive and high-quality database of educational content, likened to "Spotify in education." With over 101,000 materials sourced from 270 universities, it offers a diverse range of resources, including video courses and assessments to evaluate users' knowledge. The platform attracts more than 500,000 students monthly, with a registered user base exceeding 200,000. By providing access to educational opportunities in various fields, including biological sciences, physical sciences, humanities, and mathematics, Notatek.pl supports students in their academic pursuits.

Allani

Seed Round in 2013
Allani is a fashion social e-commerce platform designed to cater to diverse shopping preferences. It targets two user segments: those who enjoy shopping and those who find it tedious. For the first group, Allani offers inspiration and a delightful shopping experience, enhancing the joy of discovering new styles. For the second group, the platform simplifies the shopping process, ensuring it is quick and effortless. By leveraging technology, Allani provides users with curated outfit ideas, fashion trends, and a variety of retail products, including shoes, gowns, jeans, t-shirts, and shirts, sourced from trusted stores. This dual approach aims to make fashion accessible and enjoyable for all users, regardless of their shopping inclinations.

Evenea

Venture Round in 2013
Evenea is an online event management platform that simplifies the processes of organizing and promoting events. It allows users to quickly create event websites, start ticket sales, and effectively promote their events. The platform also supports secure online payment options, such as PayU, PayPal, and Dotpay. By automating key aspects of event management, Evenea helps organizers save time and reduce costs while enhancing revenue generation opportunities. Through its user-friendly interface, it provides comprehensive support for both event organizers and participants.

Fuero Games

Seed Round in 2012
Fuero Games is a computer games development studio that specializes in creating games for mobile devices and websites. The company has developed notable titles, such as the mobile version of "Witcher" and its own strategic game, "Age of Cavemen." In addition to mobile game development, Fuero Games also focuses on cross-platform web and mobile gaming, offering services that include the development and publishing of games for personal computers and consoles, as well as application testing automation. This approach allows game enthusiasts to engage with a variety of gaming experiences across different platforms.
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