Brandkamp leaves HTGF to establish new fund

Harriet Matthews
07 January 2020

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High-Tech Gründerfonds (HTGF) managing partner Michael Brandkamp has left the firm to establish European Circular Bioeconomy Fund (ECBF) as a general partner.

Brandkamp co-founded HTGF in 2005 and spent 14 years there as a managing director on the firm's board. He was previously an investment manager at TBG.

ECBF is headquartered in Bonn with a Luxembourg-based vehicle targeting €250m and aiming for a first close in 2020.

The fund will focus on investments in late-stage bioeconomy companies and circular economy businesses, namely companies that focus on the use of raw materials, biomass and renewable energy to produce sustainable products.

In addition to venture capital investments, the fund will offer mezzanine and project financing opportunities to businesses. The sectors that the fund will cover include biomass and feedstock production, bio-based chemicals and materials, and performance biologicals, including those with applications in personal care and nutrition.

The vehicle plans to invest €32m in eight companies at first growth stage, €95m in eight companies at second growth stage and €60m in six project financing investment, focusing on growth for global expansion.

Michael Nettersheim of BASF VC has also joined the ECBF team as general partner. Nettersheim was a senior investment manager with HTGF from 2008 to 2011, before joining BASF.