Central and Eastern Europe (CEE) is rapidly becoming one of the most capital-efficient growth markets in Europe. With structural funding mechanisms accelerating and private capital aligning with public priorities, the region now offers more than just “emerging market” returns — it provides a long-term foundation for strategic, scalable value creation.
Recent weeks have brought a series of developments that redefine how growth equity and private equity firms engage with the region. Below are four key indicators shaping the future of investment across the CEE landscape.
€30M Public Accelerator to Scale Polish Startups Globally
The European Institute of Innovation and Technology (EIT), in partnership with Poland’s Ministry of Development, launched a three-stage accelerator program aimed at helping startups scale internationally.
Sectors targeted include green energy, mobility, health, and climate technologies — areas where CEE companies are showing strong technical competence and growing global demand. The program is backed by at least €30M in funding.
Three Seas Innovation Fund Expands to €180M
In a significant move for regional growth capital, Bank Gospodarstwa Krajowego (Poland) and the National Development Fund (Czech Republic) have each pledged €20M to the Three Seas Initiative Innovation Fund, supported by the European Investment Fund (EIF).
The fund — targeting €180M in total AUM — is designed to invest in private equity, venture capital, and private debt vehicles across CEE countries. It reflects a structural push to strengthen the local capital stack and derisk late-stage innovation in the region.
Source: eif.org
Spacelift Raises $51M Series C — Global Clients, CEE DNA
Polish startup Spacelift, which builds infrastructure-as-code orchestration tools for enterprise cloud environments, recently closed a $51M Series C round.
The round was led by U.S.-based Five Elms Capital, with participation from Endeavor Catalyst and Inovo VC.
Spacelift’s client portfolio includes NYSE, Volkswagen, and Duolingo, underscoring how CEE-born companies are now servicing the top tier of global enterprise.
Source: techcrunch.com
Warsaw Becomes a Regional R&D Hub for Global AI Expansion
UK-based Customs Support has announced the opening of its R&D TechHub in Warsaw, which will focus on AI-powered digitization of customs and logistics processes.
The facility is expected to create 200 jobs by 2026. This move further reinforces Warsaw’s position not just as an operational center, but as a strategic innovation hub for European companies building future-proof systems.
Source: customs-support.com
Mercaton Growth Equity Strategy: Investing Where Others Restructure
Through its Growth Equity Fund, Mercaton targets fast-scaling companies across CEE, particularly those in “special situations” — firms that have outgrown early-stage capital and now require strategic funding to expand across international markets.
We believe the CEE region presents a compelling investment thesis driven by four structural trends:
The expansion of growth-stage capital instruments
Rising R&D competitiveness and talent density in Poland, Czechia, and the Baltics
Increased co-financing opportunities with EU development banks and initiatives
A maturing regulatory and operational environment for institutional capital
In CEE, growth is no longer just a story — it’s a strategy.
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