# Black Swan

> Black Swan is a VC fund in Warsaw backing Pet, Apps and Payments. See 3 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Warsaw, Poland
- Total investments: 3
- Last investment: Jan 2022
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/17979656/admin/
- Website: https://blackswanfund.pl/
- Facebook: https://www.facebook.com/BlackSwanFund/

Black Swan is a Venture Capital fund that co-invests with Business Angels in projects at an early stage of development. It evolved from the Black Swan Business Angel Club, initiated by the Enterprising Women's Network. The initiative connects the community of investors with start-ups. Black Swan is one of the funds selected in the PFR BiznestFIZ program, managed by PFR Ventures with a capitalization of PLN 30 mln. Black Swan will co-invest nearly PLN 60 mln with Business Angels.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $284k–$1.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Pet | 1 | 33% |
| Apps | 1 | 33% |
| Payments | 1 | 33% |
| InsurTech | 1 | 33% |
| Auto Insurance | 1 | 33% |

7 industries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Apipay | Comprehensive solution for electronic payment on premise. | $283.6K | Seed | Jan 22, 2022 |  |
| Petgram | Petgram is a multifunctional platform for pets that includes a social network, a GPS location system, and the Petgram Marketplace. The company develops a pet tracking application for pet owners to keep track of their pets. | $1.1M | Seed | Jan 26, 2021 |  |
| Trasti | Trasti is a car insurance agency that offers vehicle purchase, sales, towing, and glass insurance services. | $1M | Seed | Jun 08, 2020 |  |

3 of 3 investments shown.

## Co-investors
- [Carlson ASI EVIG Alfa VC Fund](https://shizune.co/investors/profile/evigalfa) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Everywhere Ventures](https://shizune.co/investors/profile/everywhere-ventures) — VC Fund
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
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### Similar country
- [SpeedUp Venture Capital Group](https://shizune.co/investors/profile/speedup-venture-capital-group) — VC Fund
- [SMOK Ventures](https://shizune.co/investors/profile/smok-ventures) — VC Fund
- [LT Capital](https://shizune.co/investors/profile/lt-capital-5861) — VC Fund

## Featured in investor lists
- [Community VC Funds in Poland](https://shizune.co/investors/community-vc-funds-poland)

## FAQ

### What does Black Swan invest in?

Black Swan invests primarily in Pet, Apps and Payments startups, most often at Seed stage. Most of the 3 investments tracked by Shizune back companies in Poland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Black Swan's check size?

Black Swan typically joins rounds of $284k–$1.1M at Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Black Swan participates in.

### When did Black Swan last invest?

The most recent investment recorded for Black Swan closed in Jan 2022. Shizune tracks 3 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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