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Start of new early stage fund for young technology companies

  • 2011
Today marks the begin of the new early stage ven­ture fund “Thüringer Grün­der­fonds” (ThGF; PDF-Down­load) for young tech­nol­ogy com­pa­nies in the State of Thuringia. Thüringer Grün­der­fonds is ini­tially funded with € 2.0 mil­lion and invests in inno­v­a­tive small and medium sized com­pa­nies that are not older than 3 years and are domi­ciled in Thuringia. Matthias Mach­nig, Min­is­ter of eco­nomic affairs of the Free State of Thuringia explains: “Start-Ups with inno­v­a­tive prod­ucts should not fail due to the lack of ini­tial financ­ing.” He took ref­er­ence to the fact that it is par­tic­u­larly hard to get financ­ing right after the foun­da­tion of a com­pany – right at this point Thüringer Grün­der­fonds will help.

With this fund, young inno­v­a­tive entre­pre­neurs with a new or sub­stan­tially enhanced prod­uct or ser­vice get the chance to entry the mar­ket” Dr. Bohnenkamp, Man­ag­ing Direc­tor of bm|t, the man­age­ment com­pany of Thüringer Grün­der­fonds adds.

Com­pa­nies can get up to € 200,000 equity financ­ing from Thüringer Grün­der­fonds. If at least 30% of the total financ­ing is co-invested by pri­vate investors this amount increases up to € 500,000 p.a. and financ­ing round – how­ever the total invest­ment of Thüringer Grün­der­fonds in one com­pany can­not exceed € 1.0 million.

Also loan-like silent part­ner­ships (Stille Beteili­gun­gen) are pos­si­ble up to a max­i­mum of € 200,000 with­out pri­vate co-financ­ing and even above if the com­pany com­plies with the EU aid reg­u­la­tions (EU-Bei­hil­fer­egeln).

The fund was set up by STUWT (Stiftung für Unternehmensgrün­dun­gen und –förderung in der gewerblichen Wirtschaft Thürin­gens) and can be increased if nec­es­sary. Inter­ested entre­pre­neurs can con­tact bm|t beteili­gungs­man­age­ment thürin­gen GmbH, Erfurt – the invest­ment com­pany of the State of Thuringia.

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