We are S20 Team - we build long-lasting relationships with tech entrepreneurs.


Our history
At SVCG, we helped the local startup scene grow and saw some of the first successful company sales in the area. Along the way, we got to work with over 200 amazing founders.
S20 takes all the good stuff we learned at SVCG, like being a true friend to founders and making smart investments that pay off. These are the things that make us who we are.
But now, there's a new group of us at the helm, with fresh ideas for what a modern VC firm in Europe should be.
Our strategy
🚀 Tech-Driven Teams
We invest in companies with top technology, global ambitions, and a US trajectory, aiming to capitalize on their potential for rapid global scaling.
💪 Execution-Driven Teams
We also back regional champions focused on their local markets, demonstrating strong business development and proven traction, inspired by B. Graham's value investing principles.
We target companies at their earliest stages, where 30x+ returns are most achievable.
Our agile decision-making process matches the speed of the region's top angel investors, and we actively seek syndication opportunities with them. While we collaborate closely with angel investors, our full-time commitment to portfolio companies allows us to provide more hands-on support and deeper engagement with founding teams.
Manifest
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We praise above all long and fair relationships with all our partners. Over the last decade, our team has managed to cooperate with countless startup founders and investors in the Baltics & Central Europe region. Through that time we have gained credibility as a trustworthy and insightful partner. We believe that these are the most important traits of investors - especially today, when you have to act dynamically and need to know that you have your back covered by reliable partners, who follow the best market standards. It’s not just saying that. Go and ask the founders we had been working with :)
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We seek founders who are smarter than us, from whom we can learn and admire. However, we only invest in markets and products we thoroughly understand. As typically the most active investor, even if not the largest, we contribute beyond capital - serving as intellectual sparring partners or helping with recruitment. Our investment is always backed by active involvement; we commit both our funds and expertise. We look for founders who value and are open to this collaborative approach.
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Investing in technology is often perceived as a fad, driven by illusions and visions lacking economic substance. At S20 Fund, we believe we are on the brink of the next technological revolution. However, we are convinced that this revolution will only materialize if it is grounded in sound economic foundations.
Our mission is to create value. We focus on three dimensions of value: first, the value that the companies we support create for their customers; second, the value that founders gain through our investment, which contributes to their personal wealth; and third, the value that our investments generate for the fund's investors.
The sequence outlined above is essential to our approach: value for clients comes first, which then cascades to other stakeholders.
Our team
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Partner Deep Tech, EduTech, Future of Work, Fundraising strategies, ESOPs
Marcin Jan Fejfer
Managing Partner at S20 FundMarcin is a Managing Partner at S20 Fund, with over a decade of venture capital experience and participation in more than 50 investment deals across CEE. As a generalist VC with deep technical understanding, he effectively evaluates and supports various business models, with particular insight into marketplaces, SaaS, and deep tech ventures. He specializes in deal structuring, ESOP implementation, and fundraising strategy. As a supervisor and investor, he helped scale successful companies including Survicate, Orbify, ReadyCode, and Devskiller. His international experience from Portugal, Denmark, and India, combined with strong analytical approach, makes him a valuable partner for founders looking to expand internationally and scale their businesses globally.Partner with:
SmartSchool Petsy Defguard PEEC AI -
Partner Financial modeling, M&A processes, Digital Health, EnergyTech
Kuba Dudek
Managing Partner at S20 FundKuba, Managing Partner at S20 and Partner at SpeedUp Group, brings deep expertise in corporate finance and venture capital investment. Since 2013, he has been instrumental in building successful startups through precise financial modeling, valuations, and M&A guidance. His background in institutional finance at Fortis Lease and BNP Paribas, combined with extensive venture capital experience, makes him uniquely qualified to help founders navigate complex financial decisions. At S20, he leads investment processes and financial strategy, focusing on creating lasting value in information economy, gaming, and healthcare ventures.Partner with:
SmartSchool Healthnix -
Partner Digital Transformation, Industrial Tech, MarTech, EnergyTech, Strategic Thinking
Bartek Gola
Partner at S20Bartek Gola is a Founding Partner at SpeedUp Venture Capital Group and Vice President of the Polish Private Equity and Venture Capital Association (PSIK). Throughout his career, he has participated in over 50 VC transactions and successfully executed seven exits from his portfolio, including Zencard, Absolvent, LubimyCzytac, and Okazjum. Currently, he focuses on leveraging venture capital for digital transformation in the energy sector and heavy industries, managing SpeedUp Energy Innovation and SpeedUp Innovation funds.
Before entering venture capital, Bartek achieved significant entrepreneurial success - he built and sold one of Poland's largest advertising agencies to NYSE-listed Omnicom. This experience, combined with his deep understanding of energy transformation and industrial digitization, makes him a valuable partner for startups developing breakthrough technologies in these sectors.Partner with:
PEEC AI Ari Care Boldr -
Partner Revenue Optimization, Enterprise Sales, Business Process Reengineering
Tomasz Czapliński
Partner at S20Tomasz Czapliński is a Partner at S20 Fund and a Managing Partner at SpeedUp Group, where since 2011 he has been overseeing investments within SpeedUp BRIdge Alfa. He specializes in R&D and fintech projects, conducting comprehensive due diligence processes and company valuations. With a background in management (currently a Ph.D. candidate at Poznań University of Economics) and experience in strategic consulting, he supports portfolio companies in financial management and business modeling.Partner with:
Paymove BeeSpeaker Pupilmed -
Investment Analyst & Office Manager Monitoring, Business Analysis, Administration
Łukasz Zięba
Łukasz serves as Office Manager & Analyst, bringing his analytical expertise and financial modeling skills to the role. He holds both the Financial Modeling & Valuation Analyst (FMVA)® and Business Intelligence & Data Analyst (BIDA)® certifications from the Corporate Finance Institute, demonstrating his proficiency in financial analysis and data visualization. He is currently pursuing his degree in Accounting and Business Finance with a specialization in capital investments and enterprise strategies at Poznan University of Economics and Business.
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Investment Analyst Monitoring, Business Analysis
Artur Małuszek
Artur is an Investment Analyst at SpeedUp Venture Capital Group and S20. He specializes in sourcing and analyzing technology projects focused on positive social and environmental impact (People&Planet tech ventures). His experience includes participation in the ĀRYA Foundry acceleration program for impact startups in the CEE region and a role as Project Leader at Enactus Poland. As an active member of SKN Inwestycji Kapitałowych Profit, he participated in research projects on company valuations and case study workshops. -
Investment Analyst
Kamil Roszak
Monitoring, Business AnalysisKamil is a member of the Investment Team, where he leverages his experience in startup analysis and evaluation. Previously, he worked as a Junior Analyst in the Capital Markets Department at INC SA, where as a certified advisor in the alternative trading system, he participated in IPO processes, prepared information memorandums, and conducted financial and legal analyses of both listed and pre-IPO companies. His recent experience includes participation in the Innovations Hub Foundation mentoring program, where as a co-founder, he worked on an innovative solution in the mental health field. Kamil holds a Certified Advisor in ATS certificate from the Warsaw Stock Exchange. He graduated from Poznan University of Economics and Business with a specialization in capital investment and corporate financial strategy. His academic activities included membership in SKN Inwestycji Kapitałowych Profit.
We are S20 – we develop longterm realtionships


Future-proof venture firm
FAQ
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We’re easily accessible through multiple channels and always eager to meet new people!
LinkedIn is a great way to reach us, and given our extensive network, you likely have business connections who know us.
We regularly post about conferences and events we’ll be attending – come say hi in person!While you can email us at getintouch@s20.team, please note that response times through this channel may be longer, and in some cases, we may not be able to respond at all. Looking forward to connecting with you, wherever works best!
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While we don’t maintain a dedicated Job Board for our portfolio companies, we welcome your application at getintouch@s20.team. Before applying, please review our portfolio and specify in your email which companies interest you and how your experience could benefit their teams. We’ll review your application and forward it to relevant portfolio companies.
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We welcome co-investments with business angels from CEE and beyond.
You can either co-invest directly in startups (minimum ticket €25K) or invest in our fund for a diversified portfolio.
Interested? Reach out to our partners on LinkedIn or email us at getintouch@s20.team.
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We typically invest between $100K-300K USD per startup, primarily at the pre-seed stage. We prefer to invest as part of a syndicate with business angels and other investors, which helps create a strong support network for our portfolio companies.
One of our key advantages is speed and flexibility – we work with private capital, which allows us to make quick investment decisions when we see the right opportunity. Feel free to reach out if your startup matches these criteria!