
bmp wins mandate for €20m early-stage fund
bmp has won the mandate to manage a €20m early-stage fund in Brandenburg following a Europe-wide tender.
This significantly increases bmp’s assets under management in the area of venture capital direct investments.
The Ministry of Economics commissioned InvestitionsBank des Landes Brandenburg (ILB) to develop a €20m venture fund named BFB Frühphasensfonds Brandenburg GmbH. 75% of the fund's capital will be provided by the European Regional Development Fund (ERDF), and 25% will hail from the State of Brandenburg.
The fund will make open-ended equity investments of up to €1m in conjunction with subordinated loans. Target companies will be based in or have facilities in Brandenburg.
Seperately, bmp also recruited Lars Michalak, who previously worked as an investment manager at IBB Beteiligungsgesellschaft in Berlin, as a partner to manage the fund. He will head the Potsdam office.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater