Global law firm White & Case LLP has advised PKN ORLEN on establishing and launching ORLEN VC, the largest corporate venture capital fund in Poland, which will invest approximately €100 million (PLN 500 million) in innovative companies involved in the energy transition.
PKN ORLEN is one of the largest oil industry companies in Central and Eastern Europe. Through direct and indirect investments in the venture capital market, its new fund will strengthen one of the ORLEN Group’s core business segments and open up opportunities to invest in new innovative technologies. The investment focus of ORLEN VC is petrochemicals, energy, the circular economy, modern retail, next-generation biofuels, modern materials, new mobility, digitalization, cyber security and industry 4.0.
White & Case has also advised ORLEN VC on its first investment in Emerald Technology Ventures’ Industrial Fund, a global venture capital fund investing in innovative technologies.
The White & Case team in Warsaw that advised on this transaction included local partner Michał Petz and associate Artur Kloc.