HTGF sells Sierra Sensors to trade

The sale ended a 12-year holding period for HTGF. It invested in the business from its first fund, which raised €272m in 2005.

Sierra's technology will now be distributed worldwide while retaining a significant presence in Hamburg, which will become Bruker's new centre for production and application development.

Bruker said the acquisition is a strategic add-on for its pharmaceutical research portfolio.

HTGF managing director Michael Brandkamp supervised the investment on behalf of senior investment manager Caroline Fichtner and represented HTGF in the exit negotiations.

Previous funding
HTGF backed Sierra in October 2006. HTGF's first fund invested up to €1m in initial funding rounds.

Company
Sierra is a developer and manufacturer of analytical biosensors based on surface plasmon resonance (SPR) detection. The company is headquartered in Hamburg, and has an additional office in Rhode Island, the US. The company was founded in 2006.

People
High-Tech Gründerfonds – Michael Brandkamp (managing director); Caroline Fichtner (senior investment manager).
Bruker Corporation – Meike Hamester (director).
Sierra Sensors – Christopher Whalen (CEO).

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• Topics
• Exits
• DACH
• Healthcare
• Germany
• Trade sale
• High-Tech Gründerfonds