Private equity investor Michael Kollár has launched his Prague-based fund GateVest, which reached two billion Czech crowns in assets under management within nine months of operation, according to data provided to CzechCrunch. Kollár, who spent 17 years at the global investment firm Macquarie and executed transactions exceeding twelve billion euros, structured GateVest to operate without management fees, relying entirely on investment returns.
The Launch and Growth of GateVest in Prague
GateVest surpassed its initial first-year target within its first nine months, scaling in capital. According to Michael Kollár, the fund’s largest investor is the financial group J&T, with which Kollár negotiated an agreement over an eight-month period. Kollár has personally committed four million euros—nearly 100 million crowns—of his own capital to the fund. Unlike conventional private equity structures, GateVest charges no management fees, meaning Kollár takes a share only if the fund generates positive returns.
Wall Street Experience and Macquarie Background
Michael Kollár’s career in high-finance began after he left Bratislava at age 17 for the United States, where he earned a degree and secured a position at Macquarie in 2008 amid the global financial crisis. According to Kollár, he survived roughly a stovku pohovorů during a period when major investment banks like Goldman Sachs and J.P. Morgan curtailed hiring. During his 17-year tenure across New York, London, and Munich, he worked 100-hour weeks in highly competitive environments alongside graduates from institutions such as Harvard and Stanford. He managed diverse transactions ranging from mergers and acquisitions advisory to fundraising before relocating to Prague two years ago.
Risks of Retail Stock Trading and Individual Investing
Despite his decades on Wall Street, Kollár warns everyday investors against trading individual stocks, stating that even professionals face immense challenges. According to Kollár, retail investors often approach the stock market like gambling, driven by accessible mobile applications and survivorship bias. He recalled personal losses from attempting to short-sell Apple during the early rise of the iPhone, losing roughly deset tisíc dolarů. Kollár argues that 99.9 percent of individuals gain no long-term advantage from picking individual equities rather than utilizing diversified index funds or professional vehicles.
Did you know? Michael Kollár’s father was a prominent economist and banker who headed Volksbank from the early 1990s until 2006 and served six years as a Slovak parliament member before leaving politics out of frustration.
Frequently Asked Questions
What is GateVest and who backs it?
GateVest is a Prague-based private equity fund founded by Michael Kollár. Its largest investor is the J&T financial group, and the fund currently manages two billion crowns.
Does GateVest charge management fees?
No. According to Michael Kollár, GateVest operates without standard management fees and is financed solely through investment returns.
Why does Michael Kollár advise against trading individual stocks?
Kollár cautions that retail stock picking functions similarly to gambling and requires outperforming collective market intelligence, noting that even institutional professionals struggle to consistently beat diversified strategies.
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