Software Development Firm VirtusLab Announces Investment from Aquiline Capital Partners


KRAKOW, Poland and NEW YORK, December 16, 2021 / PRNewswire / – VirtusLab Sp. Zoo (“VirtusLab”) is pleased to announce that it has entered into a definitive agreement for Aquiline Capital Partners LLC (“Aquiline”) to become a significant shareholder of the Company. Aquiline is a private investment company based in New York and London with $ 7 billion in assets under management, specializing in investments in financial services and technology. Financial terms of the transaction were not disclosed. Existing management will renew part of its stake and retain ownership of the business.

Founded in 2010 by Rafal Pokrywka, VirtusLab is a software development and consulting company based in Poland. VirtusLab specializes in responsive cloud native systems, data science, data engineering, and front-end development for corporate clients around the world. The company’s clients include leading companies in industries such as financial services, retail, logistics and automotive. The company has been recognized as one of the fastest growing companies in Europe by the Financial Times for the past three years and currently employs over 300 team members

Founder and CEO, Rafal Pokrywka will lead the company, together with the CTO, Pawel dolega and COO, Tomasz Orzechowski. The investment will be used to further accelerate organic growth through the attraction and retention of top talent, strengthen VirtusLab’s R&D department focused on software development efficiency and acquisitions to expand scale and the scope.

“We are thrilled with our new partnership and look forward to working with Aquiline to leverage their unique expertise in helping businesses like ours grow,” 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 field and Aquiline’s investment leaves us well positioned for growth in a context of 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 a great platform with exceptional development talent and a strong customer base,” said Vincenzo La Ruffa, Chairman of Aquiline Capital Partners. “We look forward to working together to accelerate growth and build a global leader. “

White & Case acted as legal counsel for Aquiline. Deloitte acted as accounting and tax advisor, and Crosslake Technologies acted as technology advisor.

mInvestment Banking served as financial advisor to VirtusLab and Gessel served as legal advisor.

About VirtusLab

VirtusLab, founded in 2010 is a software development company based in Poland with offices in Berlin and London currently employing over 300 people. Through services and technology, VirtusLab helps customers get more software – faster. Visit www.virtuslab.com for case studies and more information.

About Aquilin

Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London invest in companies in the financial services and technologies, business services and health sectors. The firm had $ 7 billion in assets under management at September 30, 2021. For more information on Aquiline, its investment professionals and its portfolio companies, please visit www.aquiline.com.

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SOURCE VirtusLab Sp. Zoo


Gordon K. Morehouse