bmp wins mandate for €20m early-stage fund

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.

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