SJ BERWIN ADVISES HIGH-TECH-GR
28 Oct, 2011
SJ Berwin advises 2nd Generation of High-Tech-Gründerfonds
SJ Berwin advised the High-Tech-Gründerfonds in the setting up of a new fund. The Parliamentary State Secretary at the German Federal Ministry of Economics and Technology, Ernst Burgbacher, today signalled the start of High-Tech-Gründerfonds II. The new fund has a volume of €288,5 m. The German government remains the main investor with €220 m, followed by KfW with €40 m. Starting immediately the fund is able to provide initial financing of up to €500,000 of venture capital to high-tech companies in search of capital, helping them turn promising research projects into viable business. SJ Berwin has already advised the first generation of High-Tech-Gründerfonds which was set up in 2005.
High-Tech Gründerfonds invests venture capital in promising technology companies that turn innovative concepts into viable businesses. Seed financing aims to help start-ups guide their innovation to the prototype or proof-of-concept stage or to market launch. High-Tech Gründerfonds provides seed financing of approximately €500,000. It supports high-tech companies by way of its investment managers and its highly-qualified network of coaches, investors and specialists. The main investors in this public private partnership are the German Federal Ministry for Economics and Technology as well as the KfW Banking Group. In addition with twelve companies there are twice as many as those involved in the first fund: Altana, BASF, Bosch, B. Braun Melsungen, Carl Zeiss, CeWe, Daimler, Deutsche Post DHL, Deutsche Telekom, Qiagen, REW Innogy, and Tengelmann.
The SJ Berwin LLP team was under the leadership of partner Jan Dirk Heerma (pictured), Berlin as well as Funds partner Christian Schatz, supported by Corporate associates Katja Thümmler and Sabine Röth, Berlin.