High-Tech Gründerfonds (HTGF) and Bayern Kapital have led a syndicate of five private investors and entrepreneur Rolf Nied in a €3m series-B for Fazua, a developer of electric motors for bicycles.
GP aims to bolster its presence across the DACH region with the hire of a new partner
New funding will be used on sales and marketing resources to aid with international expansion
Product design company will invest in new product development and international expansion
Exit represents a 3.5x investment multiple for HgCapital and a 30% gross IRR, with cash proceeds of £36.9m