Software Development Company VirtusLab Announces Investment From Aquiline Capital Partners
Krakow, Poland and New York, December 16, 2021 – VirtusLab Sp. Z.o.o. (“VirtusLab”) is pleased to announce that it has entered into a definitive agreement for Aquiline Capital Partners LLC (“Aquiline”) to become a significant shareholder in the company. Aquiline is a private investment firm based in New York and London with $7 billion in assets under management, specialising in investments in financial services and technology. Financial terms of the transaction were not disclosed. Existing management will roll a portion of their equity stake and maintain ownership in the company.
Founded in 2010 by Rafal Pokrywka, VirtusLab is a software development and consulting company based in Poland. VirtusLab specializes in cloud-native, reactive systems, data science, data engineering and front-end development to enterprise customers globally. The company’s customers include leading blue-chip companies across sectors including financial services, retail, logistics and automotive. The company has been recognised as one of the fastest growing companies in Europe by the Financial Times for the last three years and currently employs over 300 Team Members
Founder and CEO, Rafal Pokrywka will lead the business, along with CTO, Pawel Dolega and COO, Tomasz Orzechowski. The investment will be used to further accelerate organic growth through the attraction and retention of top-tier talent, strengthen VirtusLab’s R&D department focused on software development efficiency, and acquisitions to expand scale and reach.
“We are excited by our new partnership and look forward to working with Aquiline to leverage their unique expertise in helping companies like ours scale,” said Rafal Pokrywka. “VirtusLab’s ambition is to become the best, leading software technology company operating globally with development centers in Poland and other European countries. Our platforms and proprietary software represent leading innovations in our space and the investment from Aquiline leaves us well poised for growth amidst accelerating customer demand. Their support also comes at a crucial time when competition for talent has reached an all-time high.”
“Rafal and the VirtusLab team have built an excellent platform with exceptional development talent and a strong customer base,” said Vincenzo La Ruffa, president of Aquiline Capital Partners. “We look forward to working together to accelerate growth and build a global leader.”
White & Case served as legal advisor to Aquiline. Deloitte served as accounting and tax advisor, and Crosslake Technologies served as technology advisor.
mInvestment Banking served as financial advisor to VirtusLab and Gessel served as legal advisor.