Grupa LOTOS has begun the process of selecting the management team to launch a corporate venture capital (CVC) fund with an estimated value between EUR 40m and EUR 50m.

The process is expected to end in mid-2018. In the next step, Grupa LOTOS and the selected independent management team will submit a joint application to the Polish Development Fund so that the CVC fund is launched in the second half of 2018.

'I believe that a professionally managed CVC fund, supported by the experience and extensive expertise of the LOTOS Group staff, will help us fully exploit the potential of effective cooperation between an industrial group and start-ups. Our process and laboratory infrastructure will be key for the project's success, as it will be used for implementation testing, among other things,' says Mateusz Aleksander Bonca, Vice President of the Management Board, Chief Strategy and Development Officer.

The opening of the team selection process was preceded by open market consultations in Poland and abroad, as announced by the Company on its LinkedIn corporate profile in December. During the consultations, a dedicated LOTOS team held talks with managers of both venture capital and private equity funds.

The creation of a fund supporting innovation is one of the development initiatives included in the Grupa LOTOS Strategy for 2017-2022.

Communications Office, Grupa LOTOS S.A., ul. Elbląska 135, 80-718 Gdańsk, Poland, e-mail: media@grupalotos.pl

Grupa LOTOS SA published this content on 14 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 February 2018 10:20:03 UTC.

Original documenthttp://www.lotos.pl/en/1031/p,695,n,4723/lotos_group/press_centre/news/lotos_builds_cvc_fund_management_team

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