TechnoStart has made the first closing on its second fund, Zweite TechnoStart Ventures Fonds (Technostart Ventures II), at E49m.
Existing investors and institutional funds managed by Partners Group have contributed the money.
Ludwigsburg-based TechnoStart hopes to close the fund at about E100m in the summer.
The fund will be focused on early-stage hi-tech companies. It will also invest in some of the portfolio companies of Technostart’s previous fund, TechnoStart Ventures. The company says this will garner investors earlier returns than is usual for most early-stage investments.
The investor is being advised by TechnoStart Beratungsgesellschaft für Beteiligungsfonds.