This is actually not true for PFR, which is Poland’s biggest fund of funds. PFR is closer in its operations to EIF, a European fund of funds that backs a lot of great EU venture capital firms like Atomico.

The mentioned dangerous clauses refer to NCBiR grants. NCBiR is not an investor but rather an intermediary in EU grants for R&D.

There is a huge difference between the two and how they operate so I thought it makes sense to comment.