TVM fund doubles original target

The German VC has secured E300m from investors for its now closed TVM IV fund.

Techno Venture Management has already made six investments out of the new fund, which had an original target of E150m.

The firm will continue its current focus on early-stage investing in two industries: information and communications technology and life sciences.

Dr. Helmut Schühsler, managing partner, is bullish about opportunities in the life sciences sector, which he is responsible for investing in at TVM, despite recent market volatility.

“Right now biotech has excellent visibility in Germany and in the U.S. We have witnessed an unprecedented rally in biotech on NASDAQ, followed by a strong correction, and in general, extreme volatility in the U.S. market.”

“Europe, especially the Neuer Markt and the biotech companies listed there have held up surprisingly well in recent weeks. This gives us additional confidence in the European markets.”

“In the long run I am convinced that biotechnology companies on both sides will generate enormous shareholder value and prove to be a very attractive investment area for venture capitalists,” Dr Schühsler predicted.

TVM IV attracted strong interest from American and Asian investors.

Leading investors include:

  • Private Equity Holding (Bank Vontobel)
  • Technologie-Beteiligungs-Gesellschaft der Deutschen Ausgleichsbank
  • Alpinvest
  • Siemens Venture Capital
  • Kredietbank Luxembourg
  • Versicherungskasse der Stadt Zürich
  • Helvetia Patria
  • Versicherungen
  • Government of Singapore
  • Minnesota Life Insurance Company
  • Dresdner Kleinwort Benson
  • BT Investment Partners (Deutsche Bank)
  • BHF-Bank
  • Industriekreditbank
  • ERC Frankona/GE Capital
  • University of Pittsburgh Medical Center.

TVM is a Germany-US venture capital company with offices in Munich and Boston. Its funds have made investments in more than 160 companies, spread over 8 countries.