VC Fonds Baden-Württemberg launches with €10m fund

According to a study by the Centre for European Economic Research, start-ups in Baden-Württemberg have the highest survival rate compared to other regions in Germany.

Investors
The new fund has raised €10m from four investors. The Ministry for Finance and Economics has provided €4m, while a further €4m has been committed by two insurance providers: Sparkassenversicherung Lebensversicherung and the Württembergische Versicherung.

The manager of the fund, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, is contractually obliged to invest one quarter of all commitments and has provided the final €2m.

MBG also has the option to broaden its investment opportunities with the fund by committing a further €10m and working in a silent partnership. This would bring the fund to €20m.

Investments
The fund will focus on technology start-ups in Baden-Württemberg.

People
Dirk Buddensiek is managing director of the MBG. Nils Schmid is finance and economics minister.

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