Aspire11 targets half a billion euros to shift Czech pension savings into tech startups

Aspire11, a new investment platform founded by Pavel Mucha and Petr Borkovec of the Partners group, aims to mobilise €500 million over the next five years for Czech pension savings to be invested in fast‑growing, non‑public technology companies. In its first year the firm deployed €100 million, drawing capital from the alternative participant fund of the pension provider Rentea. The fund now holds roughly CZK 6 billion, about one‑third of Rentea’s total participant‑fund assets.

Mucha and Borkovec argue that Czech pension portfolios are overly conservative, with returns of 1½‑4½ % versus 7 % achieved by leading funds in Canada, Australia and the United States. They contend that channeling a larger share of savings into firms such as OpenAI, SpaceX or Revolut could generate significantly higher long‑term returns for retirees.