GERMANY - TGFS venture fund closes on EUR 60m

CFH, a private equity firm located in Saxony, has together with its partners, closed Technologie Gründer Fund Saxony (TGFS). The fund is a joint activity of CFH, SIB, SC-Kapital and SBM, the venture capital arms of three regional savings banks located in Chemnitz, Dresden and Leipzig and the State of Saxony with support from the European fund for regional development (EFRE). The EUR 60m target was reached within one year. The fund itself is split into a seed fund of EUR 20m and a start-up fund of EUR 40m.