27.07.2026
KFI and Investment Fund Reform in Poland
Private Markets Returning to Poland? Proposed Investment Fund Reform and the New KFI
KWKR experts discuss one of the most significant capital market reforms in recent years
A proposed legislative package aimed at developing the investment funds market introduces the concept of a Qualified Investment Fund (KFI). The new structure is intended to support the growth of the private equity and venture capital sectors while addressing regulatory gaps that have historically encouraged market participants to use foreign investment vehicles.
A new solution for private market investments
The proposed KFI framework is designed for investments in private companies, start-ups and innovative ventures. It combines selected features of existing investment structures and seeks to create a legal environment better suited to the realities of private market investing.
Investor access and regulatory design
According to the proposal discussed by the authors, KFI is intended for qualified and professional investors rather than the retail market. The model reflects the higher-risk profile and specialised nature of private equity and venture capital investments.
Why the reform matters
The planned changes are considered one of the broadest reforms of the Polish capital market framework in years. Their objective is to improve the competitiveness of Polish investment structures and support capital deployment within the domestic market.
Read the full analysis
The topic is discussed in detail by Marcin Rudzki and Sandra Murdzek of KWKR.
Read the full article: Infor.pl article
