UVC takes part in €15m round for Fazua

The European Investment Bank has led the round by providing the company with €12m of venture debt, while existing shareholders including UVC and HTGF provided the additional €3m in equity.

The venture debt product is backed by a guarantee from the European Fund for Strategic Investments, a core component of the European Commission's investment plan for Europe (also known as the Juncker plan).

The fresh capital will be used to expand the company through further research and development.

UVC Partners is currently investing from its €82m VC fund, Unternehmertums Fonds II, which held a final close in April last year.

Previous funding
HTGF and Bayern Kapital led a seed round for Fazua in February 2014. HTGF, Bayern Kapital and angel investors provided an undisclosed euro seven digit series A financing in April 2015.

Both investors returned in March 2017 to lead a syndicate of five private investors to provide Fazua with an extra €3m.

UVC Partners joined the capital structure in March 2018, leading the existing investors in a €6.5m round.

Company
Fazua was founded in 2013 in Munich. The company produces the Evation drive system, a product that is specifically designed for the demands of high-performance riding and aims to offer the natural ride feeling of a non-motorised bicycle. Clients using the drive system include Cube, Focus, Bianchi, Fantic and Pinarello.

People
European Investment Bank – Ambroise Fayolle (vice president).
UnternehmerTUM Venture Capital Partners – Benjamin Erhart (partner).
Fazua – Fabian Reuter (CEO).

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• Topics
• Expansion
• DACH
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• Germany
• Venture