Lower Saxony supported start-ups with over 17 million euros in the first quarter
The money flowed into 23 young companies. The situation of many start-ups in the state is still tense even after a year of pandemic.
NBank Capital, the investment arm of Investitions- und Förderbank Niedersachsen NBank, takes stock of the first quarter of 2021: 17.4 million euros flowed into 23 young companies, the largest share of which directly with 13.5 million euros in 16 start-ups as follow-up financing or new investments. 4.1 million euros went to already more established companies "After more than a year in the pandemic, the financing situation for many young and innovative companies remains tense," says NBank Capital Managing Director Ralf Borchers.
For the most part, the bank invested through the NVenture Fund, which is made up of funds from KfW and the state of Lower Saxony and supports companies in coping with the Corona pandemic. "We are pleased that we were able to provide concrete help and open up growth prospects in many cases with the NVenture Fund," says Borchers. The highest round in which NBank Capital participated was a seven-figure sum for the Braunschweig-based life science start-up Corat Therapeutics, which is dedicated to a drug for severe Covid 19 disease. The average investment in start-ups from NBank Capital was 650,000 euros.
In total, the bank's portfolio now includes 87 companies with an investment volume of 74 million euros.
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