bm|t beteiligungsmanagement thüringen gmbh and Thüringer Aufbaubank have founded Private Equity Thüringen GmbH & Co KG (PET-Fonds) with an initial capital of 40 million euros. “This is a significant milestone for the establishment of PET- Fonds”, stated Dr Guido Bohnenkamp, Managing Director of bm|t beteiligungsmanagement thüringen gmbh. “For negotiations with other investors, the formation of the company is a clear signal that we are on the right path”. As discussions with potential investors are developing in positive fashion , the participation of these investors is scheduled to begin in the fourth quarter of 2005.
Once private investors have joined the venture, bm|t will close the fund and then finance small and medium sized companies with their headquarters or operating units in Thuringia via the fund. 25 per cent of the fund holdings are intended for young companies, 75 per cent for established companies with above-average growth potential. Holdings will be taken up purely with a view to yield. Total fund volume will be 70 million euros.
The other three funds managed by bm|t – Thüringer Innovationsfonds, Venture Capital Thüringen GmbH & Co KG and Thüringer Industriebeteiligungs GmbH & Co KG – have also developed in positive fashion in the first half of 2005. A total of approximately 7.5 million euro holdings have been approved. This is a considerable increase over the volume of 3.6 million euros in the same period last year. The new investments cover both topping up existing holdings and taking up new. As demand for investment capital remains high and bm|t is receiving many interesting enquiries, a similarly positive trend is expected for the second half of the year.
At present, bm|t manages 43 holdings in companies in Thuringia and the investment is around 65 million euros.