
Pawel Caruk
Principal
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- Full Name
- Paweł Caruk
- Title
- Co-Managing Partner
- Firm
- Griffin Capital Partners (previously Mid Europa Partners / MidEuropa)
- Firm Type
- Private Equity (buyout / growth) — *not angel/seed; the stub classification is a misfile*
- Investment Stage
- Control-stake private equity buyouts and growth investments (not seed)
- Check Size
- At MidEuropa, typical equity investments of ~€50m–€300m in companies with enterprise values of €100m–€1,500m; Griffin manages 18 platforms with gross assets over €8bn
- Target Company Profile
- Established mid-market and larger regional champions, often majority/controlling positions
- Sector Focus
- Consumer, healthcare, technology/software, services; at Griffin also renewable energy and infrastructure (private equity outside real estate)
- Geographic Focus
- Poland and Central & Eastern Europe (CEE)
- Location
- Warsaw, Poland
Background
Paweł Caruk is a Central European private equity investor with roughly 15 years of experience across pan-European buyout funds. In October 2025 he was appointed Co-Managing Partner at Griffin Capital Partners, one of Poland's leading investment and asset managers, where he is responsible for sourcing, executing, and overseeing private equity transactions outside the real estate sector. The hire was part of Griffin's stated push to scale its private equity practice beyond its real-estate roots; Co-Owner and Managing Partner Maciej Dyjas noted that "while real estate remains at the core of our identity, our investment activity has long extended beyond it."
Before Griffin, Caruk spent several years as a Principal at Mid Europa Partners (MidEuropa) — an independent CEE-focused private equity firm with roughly €5.3bn of assets under management — where he led investment activity in Poland and the wider CEE region and executed a number of the firm's marquee Polish deals. Earlier in his career he worked at IK Partners (IK Investment Partners), another pan-European private equity fund. Public records place his MidEuropa Principal tenure at approximately 2018–2024.
Caruk also served as Vice President of PSIK, the Polish Private Equity and Venture Capital Association, reflecting a senior standing in the local PE community. On the education side, he holds two master's degrees from the Warsaw School of Economics (SGH) and is ACCA-qualified, giving him a strong finance and accounting foundation alongside his deal experience.
*Note on classification:* Despite the stub labeling him an "Angel Investor" writing "Seed Round" checks, all verifiable sources show Caruk is an institutional private equity professional focused on control-stake buyouts, not early-stage angel investing.
Investment Thesis & Focus
- Institutional private equity buyouts and growth capital, typically taking controlling stakes on their own or alongside financial/strategic partners
- Check size (MidEuropa era): ~€50m–€300m of equity into businesses with €100m–€1.5bn enterprise value — a mid-to-large-cap mandate, not seed
- Sectors: consumer, healthcare, technology/software and services; at Griffin the mandate broadens to include renewable energy and infrastructure
- Geography: strong preference for Poland and CEE "champions" with regional or global scale potential
- In his own words on the Displate deal, Caruk said MidEuropa was "delighted to be joining forces with this Polish champion in a passion-based marketplace" — signaling an appetite for category-leading, brand-driven Polish businesses with international reach
Notable Investments
- Displate (Dec 2020, MidEuropa) — MidEuropa took a majority stake in the Warsaw-based online marketplace for metal prints, which connects tens of thousands of artists and licensed brands (gaming, movies, anime, music, sports) with customers in 50+ countries. Caruk executed the transaction (with Bartosz Malecki, Eugeniu Prodan and Adam Golos).
- intive (announced Dec 2018, closed 2019, MidEuropa) — Acquisition of the international software product design and engineering services provider (1,600+ specialists across ~19 offices), serving automotive, high-tech, media, industrial and financial-services clients. Caruk was one of the three MidEuropa professionals who executed the deal (with Rustam Kurmakaev and Maciej Michalak).
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