bValue Fund

Quick read

bValue Fund is a growth equity and seed-stage VC, founded in 2016 (as bValue Angels) and headquartered in Warsaw, Poland. It backs tech and tech-enabled companies across Central and Eastern Europe through two strategies — seed and growth — currently managing three funds. Portfolio companies get access to bValue Bench, an in-house group of 50 vetted operators who provide hands-on strategic and tactical support.

Key facts

Founded

2016

Founders

Maciej Balsewicz

Employees

10-20

Sectors

generalist, saas, fintech

Website

bvaluefund.com

Investment thesis

bValue backs tech and tech-enabled businesses across CEE at both seed and growth stages, targeting regional category leaders with international ambitions and providing capital alongside hands-on operational support via its in-house bValue Bench network.

Recent activity

• Feb 2026investment
  bValue led a €2.8M (~$3.3M) seed round in Demoboost, an AI-driven B2B sales demo platform, alongside Digital Ocean Ventures and DigitalOcean. tracxn.com
• Feb 2025investment
  bValue invested approximately €4.7M (PLN 20M) in Solidstudio, a Krakow-based e-mobility startup building EV charge point management and eMSP platform solutions, to fund expansion into Western Europe. en.ain.ua
• Jan 2025investment
  bValue invested €9M in Fudo Security, a Polish cybersecurity company specialising in Privileged Access Management (PAM) solutions. en.ain.ua
• 2025investment
  bValue Growth deployed over PLN 125M across just a few months in 2025, with two investments completed across the year under the growth equity strategy. cbinsights.com
• 2025investment
  bValue invested PLN 43M in Xtreme Brands, a Polish franchise platform operating over 100 Xtreme Fitness Gyms clubs and four Xtreme KiDS children's activity centres, targeting expansion to 300+ gym locations by 2027. bvaluefund.com
• 2025leadership
  Joris Van Rooy, a former senior Nike executive with over 20 years in global sports retail and direct-to-consumer, joined bValue Bench and took a seat on the supervisory board of portfolio company Sportano.pl. linkedin.com
• Apr 2024fundraise
  bValue closed its growth equity fund at €90M, short of the €100M hard cap set at the November 2022 first close of €72M. en.ain.ua
• 2025investment
  bValue Growth deployed over 125 million PLN across a handful of deals in 2025, closing four new investments and putting more than 30% of the fund's capital to work within the year. startupintros.com
• Sep 2025investment
  bValue's most recent recorded deal was a participation in AudioShake's funding round on 18 September 2025, backing the Multimedia and Design Software company. pitchbook.com
• 2025press
  Partner Michał Bartosz told My Company Polska that bValue shifted toward growth equity after concluding early-stage capital had become oversaturated — more money than quality deals was inflating valuations. The fund now targets tickets of €5–15 million in already-growing companies. cbinsights.com
• Mar 2023investment
  bValue exited Renters.pl with an 8x return on investment. facebook.com
• 2022fundraise
  bValue's third fund — bValue Growth — hit a €72 million first close, targeting a €100 million final close for later-stage tech investments across CEE. sifted.eu

Notable investments

• DemoboostSeedFeb 2026tracxn.com
• SolidstudioGrowthFeb 2025en.ain.ua
• Fudo SecurityGrowthJan 2025en.ain.ua
• Xtreme BrandsGrowth2025bvaluefund.com
• Sportano.plGrowth2024linkedin.com
• AudioShakeSeedSep 2025pitchbook.com
• AudioShakeundisclosedSep 2025pitchbook.com
• Solidstudioundisclosed2025tracxn.com
• Fudo Securityundisclosed2025tracxn.com
• SportanoGrowth (€6M)Mar 2025linkedin.com
• HostersiAcquisitionNov 2023crunchbase.com
• SportanoGrowthMar 2025linkedin.com

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

• Maciej Balsewicz · Managing Partner & CIO
• Leszek · Investment Team
• Patryk · Investment Team
• Marcin Łuczyn · Managing Partner
• Łukasz Lach · Partner

Sources

• bValue Fund – Home
• bValue Fund – Team
• bValue Fund – Crunchbase
• bValue Portfolio – CB Insights
• bValue Fund – Tracxn
• bValue Fund – LinkedIn
• https://pitchbook.com/profiles/investor/169181-92
• https://www.linkedin.com/posts/ain-ukraine_ecommerce-venturecapital-sportstech-activity-7308483735169978368-bd9q
• https://www.crunchbase.com/organization/bvalue-angels/recent_investments
• https://startupintros.com/orgs/bvalue-fund
• https://www.facebook.com/bValueFund/
• https://sifted.eu/articles/poland-bvalue-72m-vc-late-stage
• https://en.ain.ua/2025/02/10/polish-solidstudio-secured-eur47m-in-funding-from-bvalue-fund/
• https://bvaluefund.com/investing-in-xtreme-brands/
• https://www.linkedin.com/in/leszekorlowski/

Other VCs in Poland

• Inovo Venture Partners · Early-stage VC, Warsaw·
• OTB Ventures · Deep-tech VC, Warsaw·
• Movens Capital · Early-stage VC, Warsaw

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Frequently asked