IBB raises €100m across two funds

The funding is spread across two vehicles; VC Fonds Technologie Berlin II taking €60m and VC Fonds Kreativwirtschaft Berlin II taking the remainder. The vehicles focus on tech and creative sectors respectively.

In 2013, IBB invested €12.6m and completed 50 transactions – two more deals and €500,000 more than in 2012.

11 new companies received backing from IBB last year, including Paper & Tea, Blinkist and labfolder. 

22 transactions came from the technology fund, accounting for €7.6m of invested capital, while 28 transactions totalling €5m were backed with capital from the creative fund.

Investors
The two investors each contributed €50m to both the VC Fonds Technologie Berlin and VC Fonds Kreativwirtschaft Berlin. The funding, which is to be invested by 2020, is €18m more than was raised for the group's 2007 vintage vehicles.

In 2007, the €82m raised was split; €52m was committed to the Technologie fund and €30 to the Kreativwirtschaft fund.

Investments
One of the vehicles backs SMEs in the creative sector, with the other committing capital to technology-focused start-ups.

Both funds invest up to €1.5m in the first round of funding, increasing up to €3m in later rounds. This is only on the assurance that co-investors at least match the amount committed by IBB.

People
Marco Zeller is a managing director of IBB. Cornelia Yzer is senator for economics, technology and research.

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