Konieczny, Wierzbicki Law Firm provided comprehensive services to a dynamically developing company that intended to become a VC fund—an entity applying for co-financing under the Open Innovations Program carried out by the Polish Development Fund with the use of EU funds. Our lawyers carried out a due diligence analysis and provided legal support in negotiating the major provisions of the investment agreement with the Polish Development Fund. The investment project assumed for the applicant to be entered into the Register of Managers of Alternative Investment Companies, which is maintained by the Polish Financial Supervision Authority. We successfully represented the applicant in the relevant administrative proceedings.
In the course of the proceedings, it was necessary to analyze and handle the issue of the responsibility of the key personnel members for the obligations of the Financial Operator and the issue of insufficient financing within the framework of the Polish Development Fund. As part of our legal services, we provided support with respect to amending the memorandum of association in order to adjust it to the requirements of the Polish Development Fund. We also participated in corporate events, such as a general meeting, and carried out the process of selling the company’s shares. The transaction was highly important for the client, as it allowed him to continue the company’s development with public money acquired from structural funds. The value of the transaction was PLN 82M.