Mci Capital, the alternative investment company led by former Polish Development Fund head Paweł Borys, is preparing to enter the healthcare sector with its first acquisition in aesthetic medicine expected in the third quarter of 2026. The firm, which recorded around 800 million zloty in divestment proceeds last year, plans to broaden its investment focus beyond technology and e-commerce.
We are currently concentrating on expanding our investment scope from pure new technologies into healthcare. The first investment in aesthetic medicine will be announced by us in the third quarter of this year – said Paweł Borys, managing partner of MCI Capital and president of MCI Capital TFI, in an interview with WNP.
The fund currently holds eight core portfolio companies, half of which are software firms while the rest operate in e-commerce. The decision to actively enter the health sector is driven by demographic trends and growing public interest in personal well-being, which according to Borys will attract significant capital in the coming years.
Record divestment year and dividend plans
MCI Capital recorded a record year in 2025 regarding exits from portfolio companies, generating approximately 800 million zloty in proceeds. Part of these funds will be distributed as a dividend, with the planned payout representing 4 percent of assets, translating to a dividend yield of around 4.5 percent.
The beginning of this year has been very strong for us. Our portfolio companies are growing at over 25 percent, and revenue growth stands at 20 percent. These are clearly leaders that are expanding dynamically, not only in Poland but also internationally – Borys added, pointing to eSky Group’s acquisition of the Thomas Cook brand rights in September 2024 as an example.
Regional focus and ai tailwinds
While Poland accounts for half of MCI Capital’s total investment market, the fund actively scans for attractive acquisition targets across the entire region, particularly in the Czech Republic and Romania. The ongoing technological revolution and rising demand for artificial intelligence solutions are also positively impacting the operating revenues of the fund’s technology-focused portfolio companies.
MCI Capital operates as an alternative investment company that identifies businesses requiring external capital to scale their market presence. Each engagement follows a defined time horizon, after which the fund exits the project with a financial premium once predetermined goals are achieved.
Źródło: WNP.PL, Fot. PTWP
