On 22 June 2026, the Polish Private Equity and Venture Capital Association (PSIK) held its annual Award Gala in Warsaw, announcing the winners of Nagrody PSIK 2026, the most prestigious recognition in the Polish private equity and venture capital industry.22 June 2026, the Polish Private Equity and Venture Capital Association (PSIK) held its annual Award Gala in Warsaw, announcing the winners of Nagrody PSIK 2026.

We received two awards: VC Fund of the Year and VC Deal of the Year for our exit from TerraEye, a Polish deep-tech startup developing satellite-based AI solutions for critical mineral exploration, acquired by International Resource Holding (UAE).
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The VC Fund of the Year award recognises a year in which we delivered across all dimensions simultaneously. received the VC Fund of the Year award for a year that demonstrated our ability to deliver across all dimensions simultaneously. We closed exits from two pre-Balnord Fund I investments: TerraEye at 20% IRR and Tramag at 5x MOIC and 21% IRR, while continuing to deploy from Fund I, completing 8 new investments with €16.2M deployed. Fund I oversubscribed its €70M target reaching €100M hard cap. In its second year of operation, the fund achieved MOIC 1.42x and TVPI 1.27x, placing it in the top 10% globally according to Carta benchmarks. Three portfolio companies signed government contracts with a combined value exceeding €100M.

Two awards in one evening would not have been possible without the founders who trusted us early, our LPs who backed our conviction, and the co-investors who built alongside us. Thank you. And thank you to the PSIK community for this recognition.

Full list of Nagrody PSIK 2026 winners‍

House of the Year — Innova Capital
VC Fund of the Year — Balnord
PE Deal of the Year — MCI Capital and IAI Group
VC Deal of the Year — Balnord and TerraEye
Person of the Year — Andrzej Bartos
Legal Advisor Venture Capital — Kondracki Celej
Legal Advisor Private Equity — MFW Fiałek
ESG Initiative — Resource Partners and Buglo Play
Social Business Accelerator Mentor — Zygmunt Grajkowski
Financing Bank — mBankM&A Advisor — PwC Polska
Strategic and Commercial Advisor — Bain & Company
Financial and Tax Advisor — Deloitte

About Nagrody PSIK‍

Nagrody PSIK are awarded annually by the Polish Private Equity and Venture Capital Association, the industry body representing over 100 member firms active in Poland and the region. The awards recognise outstanding performance across venture capital, private equity, and the broader ecosystem. Winners are selected through a combination of jury evaluation and member voting.

Congratulations to all winners and finalists of Nagrody PSIK 2026.