Bonn-based High-Tech Gründerfonds has announced the closing of its fourth fund at a total value of €493.8 million. As a point of comparison, HTGF’s previous iteration saw a volume of €319.5 million, thereby representing a growth in deployable capital by over 50 percent with the new vehicle.
LPs of the new fund include the Federal Ministry for Economic Affairs and Climate Protection (BMWK), KfW Capital, Volksbank, Deutsche Post, the Schwarz Group (Lidl, Kaufland, Schwarz Production, and Pre Zero), and some 45 private companies.
HTGF notes that the majority of private investors are market-leading medium-sized companies or “hidden champions”. Naturally, the fund also welcomed the participation of a number undisclosed family offices.
Representing the private investors in the new fund is Senior Vice President of SAP.iO, Alexa Gorman who also oversees all of SAP’s global startup and intrapreneurship activities.
With the new capital, HFTG says that it can invest more flexibly and quickly while simplifying the investment criteria in the process. Qualifying startups must be less than three years old and have their headquarters in Germany or have a German branch if the company is based in another European country.
Through the new fund HTGF is offering seed tickets up to one million euros In total, HTGF can invest up to four million euros in a startup across all financing rounds.
High-Tech Gründerfonds has already made investments through this new fund including Reflex Aerospace, Phialogics, and VisioLab.