Asseco Poland, a technology services company in Europe, has started a venture capital fund under the name Asseco Corporate Venture and made its first deal.
The Asseco Investment Fund is expected to invest about PLN30m ($9.4m) and plans to agree four deals by the end of the year.
Late last month Asseco Corporate Venture bought a 30% stake in Time Solutions, a start-up producer of computer time control software, for PLN300,000.
The remaining shareholders are Venture Incubator, a Polish investment group founded last year, and Kamil Rudnicki, president of Time Solutions.
Paweł Ciesielski, president of Asseco Investment Funds, said: "We have established our private equity and venture capital fund in order to invest in small and medium-sized firms at an early stage of their development. Time Solutions is an interesting and innovative undertaking with a large potential for growth."