High-Tech Gründerfonds holds first close for fourth seed fund

High-Tech Gründerfonds IV’s second close is scheduled to take place later this year. This would be faster than three previous funds, HTG said in a statement.

As a private-public partnership, more than EUR 130m of the first close’s amount will be provided by 40 private investors, who are investing alongside the German Federal Ministry for Economic Affairs and Climate Action, and KfW Capital.

Private investors represent a wide range of industries, including medium-sized firms in particular, along with major companies such as Hübner Group and family offices. German IT service provider Adesso has become a co-shareholder in HTGF IV by investing a single-digit million sum through its incubator adesso ventures GmbH (formerly inQventures GmbH), according to a press release from the company.

The new fund will provide early-stage financing to support young companies active in the areas of digital tech, industrial tech, life sciences, and chemicals. The analysis and selection methods employed will be geared even more strongly towards the aspect of sustainability.

HTG will continue to provide initial investment to around 40 innovative tech start-ups each year bolstering Germany’s position as a business hub.

The GP held a final close for HTGF III in May 2018, a year after the first close, on EUR 319.5m, surpassing its target of EUR 310m. The fund has made equity investments of EUR 1m-3m in Germany-based early-stage technology start-ups, according to Unquote Data.

HTGF III currently comprises investments from 33 industrial corporations and medium-sized companies, according to HTG. It has made 200 platform investments and is fully deployed, having 40% of its capital reserves for follow-on rounds, with a similar ratio expected for HTGF IV, as reported.

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• Topics
• Venture
• DACH
• Technology
• High-Tech Gründerfonds
• Germany