This content was originally published in Polish on Borys’ LinkedIn profile. Borys kindly agreed to republish what we think is of great value to our readers.
Polish venture capital is often criticized for a lack of innovation and insufficient government support. Yet, the reality is more nuanced. While local managers and industry lobbyists express concerns, the Polish VC ecosystem has achieved remarkable results, particularly in early-stage funding. In fact, some argue that public support for VC is already strong—perhaps even too strong.
The global venture capital landscape is essentially divided into California and the rest of the world. In California, multi-stage funds manage billions of dollars in investments. Elsewhere, including other US regions and Europe, investors focus on seed-stage startups or private equity for companies that have moved beyond the unicorn path and are pursuing profitability. Poland fits into this model.
Over the past years, Poland has built a vibrant early-stage ecosystem, excelling in pre-seed and seed investments, arguably the strongest in CEE. The country’s top startups often relocate to California to secure Series A and later-stage financing, reflecting a scarcity of growth-stage capital both in Poland and across Europe.
This does not diminish Poland’s achievements but highlights where the focus should lie: creating bridges between Warsaw and Silicon Valley. Entrepreneurs need solid foundations, access to top-tier investor networks, and support in building the next generation of unicorns. Our SMOK Ventures is among the initiatives advancing this goal.
Step by step, progress is moving on. As Polish VC funds begin to generate returns, more private investors will likely be willing to commit capital for the long term. Strengthening these connections will ensure that Poland’s startup ecosystem continues to grow, preparing companies to thrive both locally and globally.
Engineer turned entrepreneur turned investor, Borys is a founding Partner at SMOK Ventures, an early stage venture capital firm bridging Silicon Valley to Poland and the CEE region.
Formerly as an entrepreneur, co-founded Filmaster, a personalized recommendation startup acquired in 2015 by Samba TV. During his four years at Samba he built a team of 40 engineers in Warsaw and helped grow the company’s products onto the British and German markets.
Borys also co-founded ReaktorWarsaw startup hub, ReaktorX accelerator which helped 100+ first-time founders kickstart their startups, and Startup Poland, a leading think tank.
PJAIT graduate. Prior to founding his own projects, worked as a software engineer and team lead for both startups and large corporations in Poland, Germany and the United Kingdom.
Listed as one of 50 most creative Polish entrepreneurs by BRIEF. Mentors at Google for Startups, Founder Institute, Huge Thing.
Film buff. Basketball junkie.
