While the move is in line with Knorr’s plans to take advantage of consolidation in the German venture capital market and continue its expansion, the company said it is not looking to take a majority stake, but will look to manage and build Kimon’s portfolio.
In the last two years Knorr has bought three Swiss venture capital firms, a Canadian VC Martlett Venture Management, and IT Adventure a German technology-focused venture capital firm.
Today the company is fundraising for its first third-party fund, which is targeted at European communications and technology investments. It aims to raise €100m, with a first close in the first quarter of 2002.
Knorr Capital takes stake in Kimon
The venture capitalist based in Munich has taken a 45 per cent stake in fellow German VC Kimon in return for rolling its 11 biotechnology, medical technology and health care investments into Kimon’s portfolio.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: