New fund for start-ups in Baden-Württemberg

Mittelständische Beteiligungsgesellschaft Baden-Württemberg (MBG) wants to raise up to 60 million euros for the new fund. It has already collected the first half.

Mittelständische Beteiligungsgesellschaft Baden-Württemberg (MBG) is launching a second fund for the state: the Stuttgart-based company wants to raise 50 to 60 million euros for the BW Innovation Fund, reports the Stuttgarter Zeitung. After the first closing, 35 million euros have been raised, a third of which comes from state funds. Other investors include insurance companies and banks in Baden-Württemberg. "The fact that we have succeeded in gaining new, renowned partners for the Start-up BW Innovation Fund in addition to the lenders already involved in the first fund underlines this," says Guy Selbherr, Managing Director of MBG. The fund focuses on start-ups from the medical technology and mechanical engineering sectors.

Unlike the first fund, which invests in seed rounds, the second fund will primarily be used for Series A financing rounds. One to three million euros are available per start-up. The money should be collected by the beginning of 2022. The term is set at ten years.