Through hundreds of iterations, we have refined our understanding of the structural and strategic challenges that come with scaling a business.

Securing funds

Setting clear expansion strategy

Building a high performance organization

Investment focus

≥2M €

Revenue

CEE

Geography

20%

Growth rate

B2B

Business Model

4-15M €

Investment Size

Minority

Equity Stake

Investment themes

Industrial Automation & Supply Chain

  • Industrial automation and smart manufacturing
  • IoT solutions and system integration
  • Nearshoring strategies for resilient logistics

Business Digitalization & Security

  • End-to-end transformation of enterprise operations
  • Cybersecurity for mission-critical systems
  • Tools enhancing efficiency and process optimization

Data-driven Transformation & Intelligence

  • Scalable data storage and high-speed processing
  • Platforms enabling real-time insights and smarter decision-making
  • AI and analytics turning data into business value

Sustainable Energy & Materials

  • Recycling tech and waste-to-value innovation
  • Circular and sustainable material solutions
  • Smart energy management and storage systems

Success Stories

Piwik PRO

Developer of a privacy and data security-oriented web analytics platform.

Vigo Photonics

Vigo Photonics is a global leader in uncooled infrared detectors for industrial, scientific, medical, and defense use. With strong sales across the EU, Asia, and the U.S., the company has built a solid reputation for quality and innovation since its 2014 listing on the Warsaw Stock Exchange.

Artifex Mundi

Artifex Mundi is a leading game developer and publisher, known for Hidden Object (HO/HOPA) games, with over 10 million copies sold globally. Now focused on free-to-play mobile games in HO and RPG genres, it has 50+ titles across platforms and has been listed on the Warsaw Stock Exchange since 2016.

Gadu-Gadu

Gadu-Gadu was a Polish instant messaging platform launched in 2000, once the country’s most popular online communicator with over 6 million users. Known for its simple interface and iconic emoticons, it offered messaging, voice calls, and file sharing.

WB Electronics

WB Electronics is a top Polish defense tech firm specializing in communication, command systems, and unmanned solutions. Part of the WB Group, it supports NATO and allied forces with innovative, battlefield-ready technologies and strong international partnerships.
PIWIK ARR EURM
CLEARCODE EBIT PLNM

Company milestones

WEG investment in Clearcode and PIWIK Pro.

WEG Support

Provided both liquidity to the founder, as well as additional capital to scale to product business.

Company milestones

WEG investment in Clearcode and PIWIK Pro.

WEG Support

Provided both liquidity to the founder, as well as additional capital to scale to product business.

Company milestones

WEG investment in Clearcode and PIWIK Pro.

WEG Support

WEG investment in Clearcode and PIWIK Pro.

Company milestones

WEG investment in Clearcode and PIWIK Pro.

WEG Support

WEG investment in Clearcode and PIWIK Pro.

Company milestones

WEG investment in Clearcode and PIWIK Pro.

WEG Support

WEG investment in Clearcode and PIWIK Pro.

Investment Thesis

Vigo Photonics combined proprietary infrared detector technology with strong scientific depth, giving it a clear lead in a niche but fast-growing global market. Its solutions offered practical, scalable advantages across sectors like defense, healthcare, and industry. We backed Vigo not only for its technological edge and rising market demand, but because we believed in the team’s ability to turn deep tech into a globally competitive business.

WEG Support

  • Supported the development of a focused global growth strategy
  • Provided recruitment and team-building support
  • Advised on leadership development and governance
  • Assisted the founding team in entering a public market
  • Guided the company from IPO preparation to executing a secondary offering

Investment Thesis

Artifex Mundi joined our portfolio just before we narrowed our investment scope to B2B, driven by exceptional growth metrics, the booming potential of the gaming sector, and a world-class founding team with a clear strategy for scaling. The company had a unique ability to blend creativity with operational discipline—turning engaging storytelling into a repeatable business engine with global reach.

WEG Support

  • Participated in capital raises (convertibles, secondaries)
  • Supported office relocation and business infrastructure scale-up
  • Provided C-level recruitment support to strengthen leadership capacity
  • Navigated CEO transition, advised on human capital development
  • Supported the company through the stock market listing process (IPO)

Investment Thesis

Gadu-Gadu capitalized on the early internet boom by creating a sticky, high-frequency communication platform with massive daily user engagement—making it a natural fit for an ad-supported business model. Positioned at the intersection of tech, media, and monetization, GG held untapped potential as Poland’s first true digital attention magnet.

WEG Support

  • Provided capital to scale and commercialize the platform
  • Championed brand development and user acquisition
  • Built out executive structure and operational support
  • Guided product strategy and ecosystem development
  • Led IPO preparation and developed an exit strategy

Investment Thesis

WB Electronics stood out by operating as a nimble, private player in a sector dominated by slow-moving public institutions. Its flagship IT system, Phonet, and the battlefield management system Topaz showcased enormous potential, already proving their presence through contracts with the Polish Ministry of Defense (MON).

WEG Support

  • Supported strategic M&A activity (among others: Arex, Mindmade, Radmor)
  • Introduced the UAV innovation via investing in Flytronic (FlyEye)
  • Facilitated integration of the capital group
  • Backed follow-on investments to boost growth
  • Achieved successful exit in post-consolidation