← Polish Development Fund Group (PFR Group)

PFR in a nutshell

Find out what we do in the PFR Capital Group, get to know our structure, our goals and ambitions and development strategy for the coming years.

PFR in a nutshell

Find out what we do in the PFR Capital Group, get to know our structure, our goals and ambitions and development strategy for the coming years.

We are a transparent company, therefore we willingly share our knowledge and clearly present our principles of operation.

Under our wings, we integrate the activities of the multi-faceted ecosystem that supports the development of the Polish economy. We support the process of its modernization. We help exporters and innovators, and we invest in the development of enterprises and infrastructure.


Polski Fundusz Rozwoju S.A. and its subsidiaries form a state-owned capital group based in Warsaw, which offers instruments to support the development of enterprises, local governments and individuals and invests in sustainable social and economic development of Poland. The aim of the PFR Capital Group (GK PFR), established in 2016, is to implement programmes that increase long-term investment and economic potential and support equal opportunities and environmental protection.




  • PFR Ventures – the largest fund of funds (FoF) in the CEE region offering repayable financing to innovative SMEs through selected financial intermediaries such as venture capital funds or business angels;
  • PFR TFI –  a company focused on incepting and managing closed-end investment funds oriented towards alternative assets (e.g. real estate, infrastructure projects, PE or VC) as well as managing a part of the assets raised in the PPK program;
  • PFR Nieruchomości – the real estate arm of the Group which aims to improve the potential of the national housing market by implementing investments of significant importance to local communities.
  • PFR Portal PPK – a company dedicated to supervising the Employee Capital Plans (PPK), which is a common and voluntary long-term saving system for employees in Poland, developed and co-financed by employers and the state;

The subsidiaries also include the special purpose vehicle PPP Venture Sp. z o.o., in which PFR holds 80% of the shares. The PFR Capital Group also has the PFR Foundation - a non-profit organisation established in 2018. In addition, PFR holds 50% of shares in Operator Chmury Krajowej Sp. z o.o., whose aim is to provide comprehensive data storage and remote processing services. During the first several months of its operation, OChK concluded two strategic agreements: with Google (August 2019) and Microsoft (May 2020), which provide for the construction of data centres of both global public cloud providers in Poland. The second investor in this project is PKO Bank Polski S.A.

Based on best international practices and operating under one comprehensive strategy, the Polish Development Fund also integrates the offer of other leading Polish development institutions, leading the wider PFR Group. It includes: Bank Gospodarstwa Krajowego (BGK), Industrial Development Agency (ARP), Export Credit Insurance Corporation (KUKE), Polish Investment and Trade Agency (PAIH) and Polish Agency for Enterprise Development (PARP).

PFR Group strategy for 2020-2025

The Polish Development Fund Group is a modern system of Polish development institutions with a common vision and mission and basic principles of operation. Below, we present the strategy document of the PFR Group for 2020–2025 adopted in June 2020:


9,5 billion PLN

The volume of funds invested in projects worth over PLN 28 billion from 2016.

>346 000

The number of companies that received total support worth over PLN 60.5 billion under the PFR 1.0 Financial Shield

>1,1 mln

The number of participants in Employee Capital Plans (PPK) at stage 1 of the programme

2,4 mld PLN

The level of investment in housing projects (Apartment for Development)


The number of employees of GK PFR at the end of 2019

> 500 mln PLN

Cumulative net profit of PFR S.A. from 2016

Warunki RODO

Warunki RODO