Knorr Capital cuts back

The German-listed venture capital firm Knorr Capital Partners is cutting its workforce by 75% and is also losing its CEO Thomas Knorr in an effort to dramatically reduce costs. At the same time, the firm is also looking to offload some of its portfolio assets to improve its financial situation. Knorr is closing offices in Switzerland, the Netherlands (Zeewolde), Scotland, Israel, Ireland, Hungary, Boston, California and Quebec. It will then be able to concentrate fully on its remaining sites in Munich, Eschborn and Montreal.

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