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Starfinder
Piotr Pietrzak and Ula Nairne's Starfinder blends public NCBR capital with private funding to back early-stage deep-tech startups across CEE.
Starfinder
Founded in Warsaw, Starfinder is led by Managing Partners Piotr Pietrzak and Ula Nairne. The firm emerged from the same team that ran StartVenture@Poland, a seed fund operating under the state-backed Bridge Alfa program. Starfinder continues that model, blending private investment with public co-financing from Poland's National Centre for Research and Development (NCBR). The fund targets scientists and engineers whose work generates defensible intellectual property. The firm invests at the earliest stages — pre-incubation through start-up — across three verticals: life science, ICT, and engineering. Its portfolio spans AI-driven surgical navigation (Holo Surgical), biotech platforms, and other deep-tech ventures originating in the Central and Eastern European innovation corridor and the Baltic Sea region. Starfinder structures direct equity investments and participates in follow-on rounds, often working alongside other state-aligned vehicles and regional VC funds. The team sources deal flow through diaspora networks, university labs, and the Startup Hub Poland Foundation, where Venture Partner Maciej Sadowski serves as a co-founder. A six-person investment team operates from offices in Warsaw and Lublin, Poland. Venture Partners Marek Borzestowski and Maciej Sadowski, both veterans of the Giza Polish Ventures and StartVenture@Poland ecosystems, drive pipeline generation. The group's track record includes over 25 seed and early-stage deals. In April 2018, the firm noted that two of its biotech portfolio companies had listed on a stock exchange. The managing entity registered as StartVenture@Poland 2 sp. z o.o. and is supervised by the Polish Financial Supervision Authority (KNF). Starfinder's structural differentiator is its deliberate hybrid of public and private capital designed to underwrite technical risk that purely commercial seed funds in the region often avoid. By drawing on the NCBR Bridge Alfa facility, the fund can make concentrated bets on intellectual property that require longer development runways, while its partners' diaspora networks — spanning Balkan, Israeli-Polish, and CEE tech circles — give it a sourcing reach unusual for a fund of its size.
General information
Firm type
Venture Capital
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Poland
City
Warsaw
Corporate office
Chmielna 2/31, 00-020 Warszawa, Poland
Additional offices
Lublin, Poland
Principals
Piotr Pietrzak
Managing Partner
Ula Nairne
Managing Partner
Marek Borzestowski
Venture Partner
Maciej Sadowski
Venture Partner
Aleksander Mokrecki
Investment Director
Admir Berbiu
Senior Associate
Sector focus
Frequently asked questions
Who runs investment decisions at Starfinder?
Investment decisions are made by the partnership group led by Managing Partners Piotr Pietrzak and Ula Nairne. Pietrzak has a track record of seed investments through his role at StartVenture@Poland, while Nairne brings international strategic consulting experience from the UK and Liechtenstein. The Investment Director, Aleksander Mokrecki, manages pipeline generation and acquisition, supported by Senior Associate Admir Berbiu.
How does Starfinder source its deal flow?
Starfinder relies on a network of technology brokers and diaspora connections across Central and Eastern Europe, the Balkans, and Polish hubs abroad. Venture Partner Maciej Sadowski co-founded the Startup Hub Poland Foundation, which acts as a funnel for high-tech founders. The firm also draws on the Israeli-Polish venture ties of Venture Partner Marek Borzestowski, previously of Giza Polish Ventures.
What is the NCBR Bridge Alfa program, and how does Starfinder use it?
The NCBR Bridge Alfa program is a Polish public initiative that co-finances seed and early-stage venture capital funds to stimulate innovation. Starfinder combines its private capital with this public funding to invest in projects that have strong intellectual property but are often too early or technically risky for conventional VC funds. The program provides matching capital alongside private commitments.
Which sectors does Starfinder target for investment?
Starfinder focuses on three primary verticals: life science, ICT, and engineering. Within life science, the firm has backed companies developing AI-driven surgical software and biotechnology platforms. Its ICT and engineering interests center on defendable intellectual property in software and advanced industrial applications.
Does Starfinder invest only in Poland?
While Starfinder is headquartered in Poland and is anchored to the Polish innovation ecosystem, its mandate covers the broader Central and Eastern European (CEE) region and the Baltic Sea area. The team's network extends to the Balkan states and diaspora communities, enabling cross-border sourcing and support for portfolio companies aiming for global markets.
What is Starfinder's relationship to StartVenture@Poland?
Starfinder operates as the managing entity of the StartVenture@Poland 2 vehicle, a successor to the original Bridge Alfa seed fund that the same team previously ran. The investment team, including Piotr Pietrzak and Maciej Sadowski, moved their track record and strategy into the Starfinder brand while maintaining the same public-private partnership model supervised by Poland's financial regulator, KNF.
Has Starfinder generated any notable exits?
The firm has publicly noted that two of its biotechnology portfolio companies achieved listings on a stock exchange, though it has not disclosed specific names or dates beyond an April 2018 announcement referencing the Nanogroup of companies. No further exit details are publicly available.
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