But towards the end of 2015, the venture capital market slowed amid concern over valuations and investors warning about lofty prices of private tech start-ups.
The concern about valuations was driven by the public markets which saw IPOs from the likes of food delivery service Hello Fresh and French music streaming serviceDeezer pulled. Alongside this, investors wrote down their stakes in some companies in the private space including ephemeral messaging app Snapchat.
In this environment, Kostyál said technology firms thinking of going public may decide to hold off until later this year.
"I think it's more tricky, it's (IPO market) not shut. For a good company, it's always open so I think we have some good companies in the pipeline and they're definitely looking and eyeing the market, so I think...they are all IPO ready," Kostyál told CNBC.
"It's going to be more challenging, we'll probably see some more postponement into later in the year."