UVC Partners announces third fund

The fund has held a first close on €108m and is already larger than the GP's predecessor vehicle, which held a final close in April 2018 on €82m, surpassing its target of €70m.

The firm works in partnership with the innovation centre of the Technical University of Munich, known as UnternehmerTUM, and can therefore provide the companies that it backs with access to this programme.

The firm's latest investments include autonomous machines and vehicles sensor producer Blickfeld, as well as 3D printing company DyeMansion.

Investors
The fund is backed by both individual investors and institutions. These include the founders of FlixBus, in which UVC Partners first invested in May 2013. Also backing the fund are family offices and corporations, including Lanxess. The European Investment Fund has committed €9m to the vehicle and has re-upped for UVC II. KfW also committed to the firm's predecessor vehicle.

Investments
The fund will focus on Europe-headquartered industrial technologies, B2B software and transport startups. It will generally invest at seed or series-A. The vehicle will deploy equity tickets of €500,000-4m in initial rounds and can deploy up to €15m per company. The VC's previous vehicle invested up to €12m per company and planned to invest in 15-20 companies in total.

People
UVC Partners – Johannes von Borries, Helmut Schönenberger, Ingo Potthof, Andreas Unseld, Benjamin Erhart (managing partners).

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