Hedgehog Fund
VC Fund
Warsaw, Poland
Hedgehog Fund is an early stage business angels / venture capital fund operating in Warsaw, PolandOur focus is on information, communication and technology (ICT) new ventures that demonstrate the potential to be scaled internationally or acquired by industry leaders.Dependent on exit opportunities we may continue to invest in the newventures through later stages of financing.Once we have committed to an investment we proactively connect with entrepreneurs and bring together all the necessary resources to catalyze new venture growth whilst simultaneously reducing new venture risk.Our investing principles:- We invest in people with ready projects at early stage (having a prototype, platform and/or first clients as necessary minimum)- We do not invest in idea (only)- We invest in projects with up to 6 years perspective but we look at the investments opportunistically (we could have an early exit)- We invest up to (max.) PLN 1 m per project in return for minority equity stake- We build the portfolio of approx. 10-15 projects- Our initial investment aims at approx. 15-30% of shares of the project- We do investments in tranches trying to set up realistic goals to be reached by founders- We try to co-invest to minimize the risk
- Total investments:
- 13
- Last investment:
- Lead investor:
- 23%
Last updated:
For AI agents: llms.txt
Industries Hedgehog Fund invests in
Stages Hedgehog Fund invests in
Countries Hedgehog Fund invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Seed
- $260k–$4.8M
Investment Focus
Industry
- Software 4 (31%)
- Apps 2 (15%)
- Mobile 2 (15%)
- Consumer Software 2 (15%)
- B2B 1 (8%)
Stage
- Seed 10 (77%)
- Funding Round 2 (15%)
- Venture - Series Unknown 1 (8%)
Country
- Poland 9 (69%)
- United States 2 (15%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Maciej Artur Noga
Founding Partner
|
Founding Partner | Total investments: 11 | Find email | |
Marcin Borecki
Partner
|
Partner | Total investments: 2 | Find email | |
Marcin Zabielski
Managing Partner
|
Managing Partner | Total investments: 10 | Find email | |
Paweł Leks
Co-founder/Partner
|
Co-founder/Partner | Total investments: 4 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Versum reshapes how the beauty & hair industry operates in 56 countries thanks to its SaaS platform for efficient management of salons and SPAs. Used by over 8M customers and 34k top beauty and hair specialists, Versum has built a strong presence globally, including the UK, Ireland, Poland, Mexico, Spain, and Brazil. The all-in-one web-basedsalon management software is complemented by an expanding marketplace — creating a new, premium experience for salons and their customers. | Seed / Nov 01, 2016 | ||
| RightHello helps you boost and scale up your B2B sales. They deliver you contacts to decision makers of companies you want to reach, then outreach each of them with custom pitch via email and social media. Your sales team simply picks up conversations with leads and work on closing the deal. | Seed / Aug 05, 2016 | ||
| POSbistro is a cutting-edge software for catering and retail. Allows full sales mobility, prestigious customer service using tablets, easy sales management, real-time analytics and the warehouse control. We want to help entrepreneurs to run their businesses in easy, efficient and financially attractive way. | Venture - Series Unknown / Aug 04, 2016 | ||
| Preply is a provider of an online tutoring marketplace intended to promote faster learning with one-on-one online tutors. The company's marketplace helps to find and book professional private tutors online from over 185 countries, enabling users to achieve their goals and speak confidently. | $1.3M / Seed / Jun 07, 2016 | ||
| Farmer Direct sells vegetables and fruits online. It began operation in 2013, with its headquarters in Warsaw in Poland. | $260.3K / Seed / Jun 06, 2016 | ||
| Skilltelligence is a self-service platform enabling immediate access to reliable and up-to-date market information by means of thousands of profiled, cooperating with the platform of contractors throughout Poland. | Seed / Jan 01, 2016 | ||
| Silvair is empowering all industry stakeholders to leap into the future of lighting control | $4.8M / Seed / Dec 17, 2015 | ||
| POSbistro is a cutting-edge software for catering and retail. Allows full sales mobility, prestigious customer service using tablets, easy sales management, real-time analytics and the warehouse control. We want to help entrepreneurs to run their businesses in easy, efficient and financially attractive way. | Seed / Nov 30, 2015 | ||
| Kekemeke is a mobile marketing tool, based on a loyalty program with an efficient model of acquiring participants. It began operation on February 1, 2013, with its headquarters in Warsaw in Poland. | $382K / Aug 01, 2015 | ||
| Kekemeke is a mobile marketing tool, based on a loyalty program with an efficient model of acquiring participants. It began operation on February 1, 2013, with its headquarters in Warsaw in Poland. | $397.7K / Seed / Aug 01, 2015 | ||
| See all 13 investments → | |||
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FAQ
What does Hedgehog Fund invest in?
Hedgehog Fund invests primarily in Software, Apps and Mobile startups, most often at Seed and Funding Round stage. Most of the 13 investments tracked by Shizune back companies in Poland. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What round sizes does Hedgehog Fund invest in?
Hedgehog Fund typically joins rounds of $260k–$4.8M at Seed. These are whole funding-round sizes, not Hedgehog Fund's own check, which is rarely disclosed: the 10th–90th percentile of the confirmed public funding rounds Hedgehog Fund took part in.
How do I contact Hedgehog Fund?
Public channels for Hedgehog Fund include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Hedgehog Fund?
The team at Hedgehog Fund includes Maciej Artur Noga (Founding Partner), Marcin Borecki (Partner) and Marcin Zabielski (Managing Partner). The Team section lists each member with their title, investment count and links.
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 Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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