HTGF to hold €200m first close for third venture fund

Oscar Geen
06 April 2017

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German early-stage investor High-tech Gründerfonds has announced that its third fund, HTGF III, will hold a first close on €200m at the end of May.

A consortium of 15-20 corporate investors will provide €60m, with a majority of the remainder likely to be made up by cornerstone investor the German Federal Ministry of Economics and Energy.

HTGF II was launched in October 2011. It held its first close on €288.5m shortly afterwards and its final close on €301.5m in January 2013. The German government was the cornerstone investor in this fund, providing €220m.

Like its predecessor, HTGF III will focus on providing early-stage investment to small and medium-sized technology-driven companies across a range of sectors. Typical first investments are around €600,000, up to €2m per company in further rounds.

Investors are not yet announced but previous funds have attracted commitments from KfW Banking Group, Altana, BASF, Bayer, Bosch, Deutsche Post, Carl Zeiss and many other institutional and private investors.