German private-public VC firm High-Tech Gründerfonds (HTGF), easily one of the most active investors in tech startups in Europe, has closed its third fund at €316.5 million, slightly above the initial target announced last year.
The investment firm made the announcement at its annual 'Family Day' in Bonn, outlining that its backers include German public partners such as the Federal Ministry for Economic Affairs and Energy and the KfW, as well as 32 companies such as Bayer, Robert Bosch, Deutsche Post and BASF.
Since autumn 2017, the HTGF III fund has invested up to €3 million in high-tech startups, on freely negotiable conditions. But it's when going back further in time that you can see the impact the German investment company has had.
Since 2005, HTGF has helped launched about 500 tech startups (including the likes of Mister Spex and 6Wunderkinder), which have gone on to raise more than €1.6 billion of additional capital across 1,200 follow-on rounds.
High-Tech Gründerfonds also says it has exited 92 portfolio companies in that same timeframe.
“We’re very proud that our third fund has received such a good reception from new investors. More and more companies are recognising that investment in new technology is required for all future-oriented industries in order to give Germany a strong stance in the international economy and to drive innovation,” said Dr Michael Brandkamp, Managing Director of High-Tech Gründerfonds.
“We’re also glad that awareness of the advantages of cooperating with startups is growing steadily, particularly in medium-sized businesses. We are happy to build bridges to bring the two worlds together,” he added.