A new €50 million venture capital fund, backed by heavyweight European institutions and private capital, has launched with a mandate to back the startups building the continent’s next-generation industrial and energy infrastructure.
Warsaw-based Montis VC announced the first close of its new vehicle today, targeting early-stage companies that operate at the intersection of the energy transition, industrial modernisation, and the practical application of artificial intelligence. The firm stated it aims to invest in 20 to 25 startups, writing initial cheques of between €500,000 and €2 million at pre-seed and seed stages, and has reserved half of its total budget for follow-on funding.
Anchored by strategic EU and Polish capital
The fund’s first close is anchored by significant public capital, signalling strategic priorities at both a national and European level. A key backer is the European Investment Fund, which has invested through the EU’s REPowerEU programme—an initiative designed to accelerate energy independence from fossil fuels.
It is also supported by the Polish Development Fund (PFR), a state-owned entity focused on Poland’s economic development, whose venture arm, PFR Ventures, committed €10 million. Bartłomiej Samsonowicz, Investment Director at PFR Ventures, framed the investment as a sign of maturity for the regional ecosystem, noting Montis VC had first built its track record with EU-backed capital and was now attracting further institutional and private investors.
Targeting the systems beneath the economy
Montis VC’s stated strategy is to find scalable companies that improve productivity, bolster Europe’s competitiveness, and support more sustainable systems. The firm’s partners describe this focus as the “energy and industrial transition,” a broad thesis encompassing electrification, industrial automation, new energy infrastructure, and the application of AI in sectors like manufacturing, logistics, and energy grids.
“We invest in founders who want to build the future of the European economy through technology and energy efficiency,” said Michał Gawęda, a Partner at Montis VC. “We are particularly focused on areas such as the energy and industrial transition, where artificial intelligence can become a powerful driver of innovation and global scale.”
Łukasz Dziekoński, another Partner, added that the goal is to deliver above-average returns while backing technologies that “genuinely increase economic productivity,” with a keen interest in AI applications within industry, energy, and infrastructure.
Building on a proven track record
The fund is led by a team with an established history. Montis VC was founded in 2019 by Łukasz Dziekoński, Wojciech Szwankowski, and Michał Gawęda, who previously launched and managed Montis Capital. That predecessor firm invested approximately €30 million across nine companies. The team has since been strengthened by the addition of Michał Baś, previously associated with the pan-European venture capital firm Venture Friends.
Their prior portfolio, under Montis Capital, spans industry, life sciences, and digital infrastructure, and includes companies like Autofixer—a managed marketplace for car parts which reportedly surpassed €30 million in annual revenue within three years—Fresh Inset, which develops post-harvest food freshness technology, and Port, which builds last-mile delivery infrastructure for e-mobility businesses.
Leveraging a high-profile network for global reach
To bolster its international reach, Montis VC has enlisted a group of venture partners with significant political, business, and sector-specific expertise. This network includes Taavi Rõivas, the former Prime Minister of Estonia who helped architect the country’s digital governance infrastructure; Tomasz Misiak, an entrepreneur, Harvard Business School graduate, and former Polish senator; and Bart Dujczyński, a renewable energy specialist with experience in Western European markets.
Their role will be to help the fund build relationships across the wider European tech ecosystem and support portfolio companies in their cross-border expansion.
The firm emphasises a “founder-first” operating model, pledging speed and flexibility. “We are building Montis VC as a new-generation fund that is fast, flexible and works closely with founders,” said Principal Michał Baś. “There is still a shortage of investors who actively help startups scale faster and prepare for the next stages of growth. That is the gap we want to fill.”
The €50 million first close is not the final target. The firm confirmed it plans to continue fundraising in the coming months and is already in advanced discussions with additional investors, aiming to significantly increase the fund’s total capitalisation.
