UVC Partners set for Q2 2021 final close for third fund

The GP announced the launch of the fund in October 2020, alongside its €108m first close, as reported.

UnternehmerTUM Fonds III is targeting €150m. Poellath is providing legal advice on the vehicle.

The fund will continue to back early-stage B2B technology startups based in Europe. UVC typically deploys equity tickets of €500,000-4m in initial rounds and can deploy up to €15m per company. The firm can now invest €500,000-5m initially and up to €20m in total, according to its website. The vehicle will also continue to focus on the sectors of industrial technology, enterprise software and mobility.

LPs in the fund include institutional investors such as the European Investment Fund, as well as startup founders, and corporates including Lanxess.

UVC's predecessor vehicle held a final close in April 2018 on €82m, surpassing its target of €70m. The fund invested up to €12m per company and planned to invest in 15-20 companies in total.

The GP was founded in 2011 and operates in cooperation with the innovation centre of the Technical University of Munich, known as UnternehmerTUM, providing its portfolio companies with access to a network of corporate partners, as well as startup platforms and industry expertise networks.

The firm's recent investments include a €3.2m seed round for business savings and value management platform Valuedesk, as well as a €75m follow-on round for Isar Aerospace, in which UVC first invested in 2019.

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