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News-Kategorie: Venture Capital

Revent launches €50 million VC fund with impact focus

Berlin — SMP advi­sed the newly foun­ded early-stage inves­tor Revent Capi­tal (Revent) on the struc­tu­ring of its venture capi­tal fund with impact focus “Revent Ventures I”. The Revent team’s target fund size is 50 million euros.

In addi­tion to Benja­min Otto, who has already co-finan­ced two well-known German funds with e.ventures and Project A, the anchor inves­tors include Verena Paus­der (Fox & Sheep), Sascha Konietzke (Content­ful), Max Tayen­thal (N26), Luis Hane­mann (e.ventures), Benja­min Roth (Urban Sports Club) and Florian Heine­mann (Project A) as well as other well-known entre­pre­neurs and inves­tors from the Berlin scene. — In the next step, the VC plans to attract further insti­tu­tio­nal back­ers as inves­tors for Revent Ventures I. Revent recei­ved compre­hen­sive legal and tax advice from a team led by SMP part­ner Stephan Bank.

“With Revent, anot­her VC fund with an impact focus enters the Euro­pean stage, which wants to show that profit and purpose can not only be combi­ned, but that attrac­tive returns can be achie­ved precisely through socially as well as socially respon­si­ble actions and econo­mic acti­vi­ties,” says Stephan Bank. “Although the market is still young, it is enjoy­ing rapid growth and is thus beco­m­ing incre­a­singly important. We are very plea­sed to have been able to accom­pany Revent in the launch of the first genera­tion of funds and are eagerly following further deve­lo­p­ments in the field of impact inves­ting,” adds Joel El-Qalqili.

About Revent
Revent is an early stage inves­tor with an impact focus, commit­ted to addres­sing envi­ron­men­tal and social chal­len­ges. In the course of pre-seed to Series A finan­cing rounds, Revent invests across Europe for this purpose prima­rily in the areas of Clima­te­Tech, EdTech as well as Digi­tal Health and in compa­nies that pursue a clear purpose in addi­tion to profit. Revent, based in Berlin with an addi­tio­nal office in London, was foun­ded in 2020. A quar­tet consis­ting of Otto Birn­baum, Lauren Harri­son Lentz, Emily Brooke and Henrik Grosse Hokamp form the foun­ding part­ners of the fund, whose port­fo­lio compa­nies include Tomor­row Bank, Sylvera, Tomor­row and Net Purpose.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP’s attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs more than 60 expe­ri­en­ced lawy­ers, tax advi­sors and tax specia­lists in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant Revent: SMP
Dr. Stephan Bank, Photo (structuring/lead manage­ment), Partner
Lenn­art Lorenz (Regu­la­tory Law), Partner
Jens Kretz­sch­mann (Taxes), Partner
Joel El-Qalqili (Structuring/Supervisory), Asso­cia­ted Partner
Dr. Florian Wilbrink (Struc­tu­ring), Associate

Seed extension for Swiss CAD specialist Neural Concept

Zurich — Neural Concept, the Swiss soft­ware company in the field of Compu­ter Aided Design (CAD) and Engi­nee­ring (CAE), is plea­sed to announce new mile­stones in the company’s deve­lo­p­ment. At the begin­ning of the year, the exis­ting inves­tors, Constan­tia New Busi­ness and High-Tech Grün­der­fonds, support the next growth phase with seed exten­sion finan­cing. Both inves­tors already led the seed round 18 months ago. With the fresh capi­tal, Neural Concept can acce­le­rate and realize its mission — to bring the enor­mous poten­tial of Deep Lear­ning into the hands of design engi­neers for real-time simu­la­tion and inter­ac­tive design optimization.

Paral­lel to the finan­cing round, a new advi­sory board was estab­lis­hed to comple­ment the exis­ting board of direc­tors. The two new advi­sory board members, Evrard Van Zuylen and Roberto Schett­ler, bring exten­sive expe­ri­ence in foun­ding, growing and mana­ging success­ful B2B soft­ware compa­nies in the areas of machine lear­ning and design engineering.

Pierre Baqué, foun­der and CEO of Neural Concept: “I am deligh­ted to advise Neural Concept on its future growth. The company’s disrup­tive deep lear­ning algo­rithms will set the new stan­dard in the simu­la­tion industry

Evrard Van Zuylen, Neural Concept Advi­sory Board: “Neural Concept has foun­ded a new world of simu­la­tion. Deep Lear­ning will not only speed up simu­la­ti­ons and demo­cra­tize them in all areas of design and deve­lo­p­ment. I am convin­ced that this will finally enable itera­tive design of better products at low cost. Rather than seeing this as a mere vision of the future, compa­nies can make it a reality today with Neural Concept’s soft­ware products.”

About Evrard Van Zuylen
Evrard van Zuylen is co-foun­der (2006) and mana­ging direc­tor of darts-ip, world’s leading AI-based data provi­der for IP liti­ga­tion until its acqui­si­tion by Clari­vate plc. Foun­der (2000) and CTO of Trans­wide, now part of Alpega N.V. Previously, he worked at BCG and IBM.Evrard holds a master’s degree in mecha­ni­cal engi­nee­ring from l’Ecole Poly­tech­ni­que de Louvain and an MBA from the Univer­sity of Chicago Booth School of Business.

About Roberto Schettler
Roberto was CEO of Real­time Tech­no­logy (RTT), a leading 3D soft­ware and services company for the auto­mo­tive and aero­space sectors. Under his leaders­hip, he grew the company to nearly 1,000 employees before RTT was acqui­red by Dass­ault Systems in 2014. He subse­quently also served as CEO of the rebran­ded company 3DExcite. Previously, he co-foun­ded Core­Op­tics, which was later acqui­red by Cisco Inc. was purcha­sed, and worked as a consul­tant at Think­Team as well as BCG. Here, he helps tech­no­logy compa­nies in both Europe and the U.S. grow to new levels.

About Constan­tia New Busi­ness (CNB Capital)
CNB Capi­tal is an inde­pen­dent early-stage inves­tor focu­sed on B2B product compa­nies that have achie­ved initial market vali­da­tion. An expe­ri­en­ced team of invest­ment mana­gers actively supports foun­ders in func­tio­nal areas, espe­cially sales and marke­ting. The ever­green invest­ment approach supports the long-term orien­ta­tion of CNB’s stra­tegy in buil­ding substan­tial busi­nes­ses together.

About High-Tech Gründerfonds
The seed inves­tor High-Tech Grün­der­fonds (HTGF) finan­ces tech­no­logy start-ups with growth poten­tial. With a volume of around EUR 900 million spread across three funds and an inter­na­tio­nal part­ner network, HTGF has suppor­ted more than 600 start-ups since 2005. His team of expe­ri­en­ced invest­ment mana­gers and start-up experts supports the young compa­nies with know-how, entre­pre­neu­rial spirit and passion. The focus is on high-tech start-ups in the fields of digi­tal tech, indus­trial tech, life scien­ces, chemi­stry and rela­ted busi­ness areas. Almost EUR 3 billion in capi­tal has been inves­ted in the HTGF port­fo­lio by exter­nal inves­tors in more than 1,700 follow-on finan­cing rounds to date. In addi­tion, the fund has already success­fully sold shares in more than 120 companies.Investors in the public-private part­ners­hip include the German Federal Minis­try for Econo­mic Affairs and Energy, KfW Capi­tal, the Fraun­ho­fer-Gesell­schaft and the 32 companies.

GENUI joins FACT-Finder

Munich — GENUI acqui­res a stake in FACT-Finder. FACT-Finder is the Euro­pean market leader for search, navi­ga­tion and merchan­di­sing in eCom­merce. Since the early 2000s, the company has been deve­lo­ping AI-based search tech­no­lo­gies to help online shop­pers find the right products. Inter­na­tio­nally, the tech­no­logy is used in more than 1,800 stores. GENUI was advi­sed on this invest­ment by Pöllath & Partners.

GENUI is a company foun­ded by renow­ned entre­pre­neurs and invest­ment experts who believe in “Good Entre­pre­neurs­hip”: GENUI only makes long-term commit­ments to compa­nies with the aim of crea­ting sustainable growth and social value. Compa­nies gain access to special entre­pre­neurs with indus­try-rele­vant exper­tise and the asso­cia­ted network as part of profes­sio­nal governance.

POELLATH advi­sed GENUI on the invest­ment with the following team:

Dr. Tim Kauf­hold, Photo (Part­ner, Lead Part­ner, M&A, Private Equity, Munich)
Dr. Nico Fischer (Part­ner, Tax Law, Munich)
Chris­tine Funk, LL.M. (Senior Asso­ciate, IP/IT, Frankfurt)
Dr. Moritz Klein (Senior Asso­ciate, M&A, Private Equity, Munich)
Matthias Ober­bauer (Senior Asso­ciate, M&A, Private Equity, Munich)
Johanna Scherk (Asso­ciate, M&A, Private Equity, Munich)

About PPLAW

POELLATH is a market-leading inter­na­tio­nal busi­ness and tax law firm with more than 150 lawy­ers and tax advi­sors in Berlin, Frank­furt and Munich. We stand for high-end advice on tran­sac­tions and asset manage­ment. We offer legal and tax services from a single source. In our selec­ted and highly specia­li­zed prac­tice groups, we not only know the law, but also shape best prac­tice in the market toge­ther with our clients. Natio­nal and inter­na­tio­nal rankings regu­larly list our consul­tants as leading experts in their field.

BayBG invests in spice specialist VISION FOOD

Munich / Münner­stadt — “We spice the future” — under this motto, the spice specia­list Vision Food GmbH, Münner­stadt, has been on the road to success for years. A dormant equity holding (mezza­nine) by BayBG Baye­ri­sche Betei­li­gungs­ge­sell­schaft enab­les further invest­ments and streng­t­hens working capi­tal. This means that the company, which was foun­ded in 2005, remains on a growth path.

The Lower Fran­co­nian company supplies, grinds and blends high-quality spices, extracts or vanilla for its custo­mers throughout Europe. Howe­ver, Vision Food does not limit itself to pure retail­ing, but clearly stands out from the compe­ti­tion with its “custo­mi­zing”. Vision Food thus offers not only “stan­dar­di­zed” spices and blends, but also products precisely tailo­red to custo­mers’ requi­re­ments, for example in terms of oil or pipe­rine content in pepper. “With this and its many years of expe­ri­ence, Vision Food has a strong posi­tion with its custo­mers, which include the meat proces­sing indus­try or manu­fac­tu­rers of spice blends for the retail trade,” says Martin Kunze, invest­ment mana­ger at BayBG, describ­ing the company. “We see great poten­tial in the company, the market and the product,” adds Alois Bösl, who is respon­si­ble for BayBG’s busi­ness acti­vi­ties throughout nort­hern Bava­ria: “Cooking and ever­ything to do with it has and is gaining further cult charac­ter. This means that high-quality spices, for which Vision Food stands, are also incre­a­singly in demand.”

Uwe Scher­baum, owner and mana­ging direc­tor of Vision Food, is also satis­fied: “With BayBG, we have gained a renow­ned part­ner that is very well ancho­red in the domestic SME sector and will support us in the long term. This puts us in a good posi­tion. The addi­tio­nal capi­tal will enable us to conti­nue our growth stra­tegy with balan­ced financing.”

About BayBG — Baye­ri­sche Beteiligungsgesellschaft

With an inves­ted volume of more than 300 million euros, BayBG Baye­ri­sche Betei­li­gungs­ge­sell­schaft is one of the largest provi­ders of equity capi­tal, espe­cially for Bava­rian SMEs. With its venture capi­tal and equity invest­ments, which it provi­des in the form of equity and mezza­nine, it enab­les medium-sized compa­nies to imple­ment inno­va­tion and growth projects, manage corpo­rate succes­sion or opti­mize their capi­tal struc­ture. BayBG opera­tes as an ever­green fund and is not subject to exit pressure.

Logsta secures 7‑figure investment from Round2 Capital

Vienna/Leobersdorf — Logsta, the logistics scale-up from Austria, with wareh­ouse loca­ti­ons in Austria, Germany, UK and USA, impro­ves the effi­ci­ency of logistics proces­ses many times over with its highly inno­va­tive IT plat­form. For the company with over 860 satis­fied custo­mers like NEOH and Novritsch, the new year starts with posi­tive invest­ment news. The company secu­res a 7‑digit finan­cing from the Vien­nese invest­ment fund for growth finan­cing, Round2 Capi­tal, in order to conquer further inter­na­tio­nal markets and expand the IT plat­form, among other things. The high­light: Logsta does not give away shares in the company as usual, but instead Round2 Capi­tal parti­ci­pa­tes in the company’s sales until a prede­fi­ned upper limit has been reached.

Many people today rely — full-time or part-time — on e‑commerce to sell their products. Howe­ver, many SMBs, sole proprie­tors and star­tups invol­ved in e‑commerce that only distri­bute small quan­ti­ties or have special or crea­tive pack­a­ging needs often face the diffi­culty of finding a logistics company willing to work with them and provide a digi­ti­zed logistics process solu­tion for busi­nes­ses of any size. Georg Weiß, Chris­toph Glatzl and Domi­nik Bierin­ger reco­gni­zed this in 2017 and laun­ched the logistics startup Logsta.

The goal of the three foun­ders was to support compa­nies that were simply too small or had too high digi­ta­li­zed requi­re­ments for the clas­sic logistics compa­nies with uncom­pli­ca­ted and custo­mi­zed logistics services world­wide from a single source and at fair prices: From inno­va­tive IT tools, wareh­ouse loca­ti­ons in the USA, Germany, Austria and England, fast support for world­wide ship­ments to modern e‑fulfillment as well as favor­able ship­ping condi­ti­ons. Now outgrown its start-up shoes, the scale-up has over 860 inter­na­tio­nal custo­mers and over 2 million products in its wareh­ouses. With the specially deve­lo­ped Logsta-Connec­tor, custo­mers can control and check their logistics world­wide free of charge, it enab­les 24/7 inven­tory check, expi­ra­tion date manage­ment, batch manage­ment, order status insight and much more.

In order to realize further expan­sion plans, the three foun­ders have raised a 7‑digit euro amount from Round2 Capi­tal, the invest­ment fund for growth finan­cing. The Vienna-based invest­ment fund is a Euro­pean pioneer in reve­nue-based finan­cing, inves­ting in leading scale-ups in the tech­no­logy and soft­ware sectors in Europe. It is a simple, trans­pa­rent and flexi­ble finan­cing instru­ment for compa­nies in the growth phase, which offers non-dilu­tive finan­cing against reve­nue sharing up to a prede­fi­ned cap. The advi­sor for this growth finan­cing was i5Invest, which sees this measure as an important step for Logsta in terms of scaling and internationalization.

“We have found the ideal part­ner for us in Round2. They convince with their flexi­ble finan­cing solu­tion, which gives us the chance to acce­le­rate our growth and conquer more inter­na­tio­nal markets,” said the foun­ders of Logsta.

Chris­tian Czer­nich, CEO and Co-Foun­der Round2 Capi­tal Part­ners: “We are impres­sed by the dyna­mism and inge­nuity of the Logsta team. The foun­ders have mana­ged to build a highly inno­va­tive and now globally opera­ting company in a short period of time without exter­nal funding. Logsta’s digi­tal logistics solu­ti­ons enable both large and small compa­nies to get their products sold online to the end custo­mer quickly, reli­ably and cost-effectively.”

About Round2 Capi­tal Partners

Round2 Capi­tal is a fast-growing Euro­pean invest­ment firm with €30 million under its manage­ment. The Vienna-based company is a strong part­ner for Euro­pean scale-ups with digi­tal and sustainable busi­ness models. Since its incep­tion in 2017, Round2 Capi­tal has been pionee­ring reve­nue-based finan­cing in Europe and is active in several Euro­pean coun­tries, with a focus on Germany, Switz­er­land, Austria and the Nordic coun­tries. To date, Round2 Capi­tal has inves­ted in 14 diffe­rent compa­nies, with Logsta being the newest company in the port­fo­lio. www.round2cap.com

Building the future of learning & work

Emerge Education invests in German edtech startup Tomorrow’s Education

Berlin — Educa­tion inves­tor Emerge Educa­tion is inves­ting in EdTech startup Tomorrow’s Educa­tion. This is the first time the VC from the UK has inves­ted in a company from Germany with its new genera­tion of funds. In the course of the finan­cing round of Tomorrow’s Educa­tion, Emerge Educa­tion also acted as lead inves­tor and was legally advi­sed by SMP part­ners Frede­rik Gärt­ner and Martin Scha­per toge­ther with Jonas Huth.

“With the use of, among other things, arti­fi­cial intel­li­gence and a contem­porary concept, Tomorrow’s Educa­tion is poin­ting the way towards an even more modern and flexi­ble form of acade­mic trai­ning and is thus crea­ting a new form of know­ledge trans­fer. We are very plea­sed to have been able to provide legal support to Emerge Educa­tion in this tran­sac­tion,” says Frede­rik Gärtner.

Emerge Educa­tion

Emerge Educa­tion ranks as one of Europe’s leading inves­tors in the educa­tion sector. The London-based venture capi­ta­list focu­ses its invest­ments prima­rily on pre-seed and seed invest­ments of early-stage EdTech star­tups. In addi­tion to provi­ding capi­tal, Emerge Educa­tion also offers its port­fo­lio compa­nies access to inves­tors, stra­te­gic part­ners, and a network of key educa­tion and indus­try decision makers. The venture capitalist’s invest­ments include Enga­geli, Aula, Lingumi, Four­thRev, Crehana and Eduflow.

Tomorrow’s Educa­tion

Tomorrow’s Educa­tion is a digi­tal lear­ning plat­form based in Berlin. Toge­ther with the Vienna Univer­sity of Econo­mics and Busi­ness Admi­nis­tra­tion, the company has deve­lo­ped an accredi­ted part-time master’s program that is opti­mi­zed for mobile use and thus adap­ted to the needs of the target group. In addi­tion, Tomorrow’s Educa­tion focu­ses on teaching lear­ning content in compa­ra­tively short sequen­ces, as well as on prac­ti­cal and problem-orien­ted chal­len­ges or even compe­ti­ti­ons from the entre­pre­neu­rial envi­ron­ment. Arti­fi­cial intel­li­gence also ensu­res progres­sive perso­na­liz­a­tion of the lear­ning envi­ron­ment. Tomorrow’s Educa­tion was foun­ded in 2020 by former N26 CTO and foun­der of the health app Vivy, Chris­tian Reber­nik, and educa­tion expert Thomas Funke, and curr­ently employs around 15 people.

About SMP

SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs more than 60 expe­ri­en­ced lawy­ers, tax advi­sors and tax specia­lists in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant Emerge Educa­tion: SMP
Dr. Frede­rik Gärt­ner (Corpo­rate), Asso­ciate Partner
Dr. Martin Scha­per (Corpo­rate), Partner
Jonas Huth (Corpo­rate), Associate

Men’s health: 7‑figure seed round for Kranus Health

Bonn, Germany — Kranus Health, the digi­tal men’s health plat­form, today announ­ced a seven-figure seed funding. HTGF, A Round Capi­tal, Venture Base­camp and Dr. Ralph Müller are new inves­tors in Kranus Health. In addi­tion to the new inves­tors, exis­ting busi­ness angels, inclu­ding Konstan­tin Mehl (foun­der Foodora + Kaia Health), have again parti­ci­pa­ted in the seed round.

With the fresh capi­tal, Kranus Health will conti­nue to expand its men’s health plat­form and take the next step of laun­ching a reim­b­urs­able digi­tal therapy as a sustainable solu­tion for erec­tile dysfunc­tion. The exis­ting expert network of urology specia­lists will also be further expan­ded to reach even more men with Kranus Health solutions.

The digi­tal health company Kranus Health was foun­ded in 2020 by Jens Nörters­häu­ser, Thilo Klein­schmidt, Niko­lay Dimo­la­rov and Profes­sor Kurt Miller. The goal is to rethink men’s health­care and improve it using digi­tal solu­ti­ons. Men’s life expec­tancy is still up to 6 years behind women’s, thousands of men world­wide die too early due to unhe­althy life­styles and lack of preven­tive care and preven­tion — there is a lack of health awareness.

Kranus Health is on a mission to change that. Digi­tal and thus easily acces­si­ble pati­ent jour­neys lower men’s inhi­bi­ti­ons about consul­ting a doctor for their problems and sustainably support a healthy life­style because users inter­act with the digi­tal offe­ring in an uncom­pli­ca­ted and frequent manner. The first offe­ring being deve­lo­ped is a reim­b­urs­able digi­tal therapy for erec­tile dysfunc­tion (DiGA as an “app on prescrip­tion”). In this clini­cal picture, there is a close connec­tion with serious cardio­vascu­lar dise­a­ses such as heart attacks, the risk factors of which should also be redu­ced by Kranus Health therapy. The startup works closely with medi­cal specia­lists and has already built up a broad network of experts from German urologists.

“Kranus Health has deve­lo­ped an offe­ring based on scien­ti­fic evidence that provi­des urolo­gists with enti­rely new and, most import­antly, root cause-orien­ted opti­ons in trea­ting their pati­ents, accord­ing to Profes­sor Kurt Miller,” Chief Medi­cal Offi­cer at Kranus Health

With the fresh capi­tal and the inves­tors’ network, the digi­tal therapy will be further deve­lo­ped this year and laun­ched as a reim­b­urs­able product, and the digi­tal plat­form for men’s health will also be expan­ded with addi­tio­nal offerings.

“In the clini­cal picture of erec­tile dysfunc­tion, current offe­rings such as medi­ca­ti­ons are aimed at alle­via­ting the symptoms, but not the causes. With its digi­tal solu­tion, Kranus is helping to improve the quality of life of a large number of men in a long-term and goal-orien­ted manner,” explains Louis Heinz, Invest­ment Mana­ger at HTGF

About Kranus Health

Kranus Health aims to help men live healt­hier, longer lives by provi­ding easy, strai­ght­for­ward access to the latest medi­cal care. Foun­ders Thilo Klein­schmidt and Jens Nörters­häu­ser have known each other for many years through their time toge­ther at McKin­sey & Company, and both have been passio­nate about the possi­bi­li­ties of digi­tal trans­for­ma­tion for years. But both also had a keen inte­rest in the health­care sector. Jens is origi­nally a bio-engi­neer and has years of profes­sio­nal expe­ri­ence in the phar­maceu­ti­cal field. Thilo comes from a medi­cal family, his father is a urolo­gist. The idea of foun­ding Kranus at the begin­ning of 2020 was there­fore an obvious one and also took place against the back­drop of regu­la­tory chan­ges, in parti­cu­lar the Digi­tal Utility Act (DVG). Since then, it has been possi­ble to signi­fi­cantly improve health­care in Germany through digi­tal therapies.

Profes­sor Kurt Miller, former Chief of Urology at Charité Berlin, and CTO Niko­lay Dimo­la­rov (Celo­nis, among others) comple­ment the foun­ding team to jointly imple­ment Kranus’ vision. For this purpose, Kranus Health deve­lops digi­tal thera­pies based on current scien­ti­fic findings suppor­ted by tele­me­di­cal care from medi­cal specia­lists. The spec­trum of services ranges from thera­pies for taboo dise­a­ses such as erec­tile dysfunc­tion to early detec­tion and preven­tion (e.g. cardio­vascu­lar diseases).

About High-Tech Gründerfonds

The seed inves­tor High-Tech Grün­der­fonds (HTGF) finan­ces tech­no­logy start-ups with growth poten­tial. With a volume of around EUR 900 million spread across three funds and an inter­na­tio­nal part­ner network, HTGF has suppor­ted more than 600 start-ups since 2005. His team of expe­ri­en­ced invest­ment mana­gers and start-up experts supports the young compa­nies with know-how, entre­pre­neu­rial spirit and passion. The focus is on high-tech start-ups in the fields of digi­tal tech, indus­trial tech, life scien­ces, chemi­stry and rela­ted busi­ness areas.

Almost EUR 3 billion in capi­tal has been inves­ted in the HTGF port­fo­lio by exter­nal inves­tors in more than 1,700 follow-on finan­cing rounds to date. In addi­tion, the fund has already success­fully sold shares in more than 120 companies.Investors in the public-private part­ners­hip include the German Federal Minis­try for Econo­mic Affairs and Energy, KfW Capi­tal, the Fraun­ho­fer-Gesell­schaft and the compa­nies ALTANA, BASF, Bayer, Boehrin­ger Ingel­heim, B.Braun, Robert Bosch, BÜFA, CEWE, Deut­sche Bank, Deut­sche Post DHL, Dräger, Dril­lisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Betei­li­gungs GmbH & Co. KG, PHOENIX CONTACT, QIAGEN, RWE Genera­tion SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Infor­ma­tik, WACKER and Wilh. Werhahn KG.

GeneQuine Biotherapeutics Receives €9 Million Series A Financing

Hamburg/ Bonn — Gene­Quine Biothe­ra­peu­tics GmbH, a biotech company deve­lo­ping gene therapy drugs for the treat­ment of muscu­los­keletal dise­a­ses, announ­ces the closing of a €5.4 million Series A finan­cing round and the raising of €3.65 million in conver­ti­ble loans and grants.

The Series A finan­cing round is led by Pacira BioSci­en­ces, Inc (Parsippany, USA), a US-based phar­maceu­ti­cal company focu­sed on pain manage­ment and rege­ne­ra­tive medi­cine. Other inves­tors include High-Tech Grün­der­fonds (Bonn), which has already inves­ted in Gene­Quine, as well as Noshaq SA (Liège, Belgium) and Samum Vermö­gens­ver­wal­tungs GmbH (Hamburg). Pacira Biosci­en­ces, Inc. and Samum Vermö­gens­ver­wal­tungs GmbH also provide conver­ti­ble loans in the amount of €2.75 million. A further €0.9 million comes in the form of subsi­dies from the Inves­ti­ti­ons­bank des Landes Brandenburg.

Gene­Quine will use the funds raised to deve­lop lead candi­date GQ-303 for the treat­ment of osteo­ar­thri­tis through to a Phase 1 clini­cal trial. Further­more, the deve­lo­p­ment of new gene therapy drugs for the treat­ment of inter­ver­te­bral disc dege­ne­ra­tion will be advan­ced, and GeneQuine’s gene therapy vector plat­form will be further expan­ded. Gene­Quine already expan­ded its work­force last year and estab­lis­hed a subsi­diary in Liège (Belgium). Gene­Quine has its head­quar­ters in Hamburg and a rese­arch and deve­lo­p­ment labo­ra­tory in Lucken­walde (Grea­ter Berlin).

Gene­Quine uses a gene therapy vector plat­form based on “Helper-depen­dent Adeno­vi­ral Vectors” (HDAd) to trans­form tissues and organs affec­ted by dise­ase into “facto­ries” for local produc­tion of thera­peu­tic prote­ins. A single, local injec­tion of a gene therapy drug could thus lead to protein produc­tion over several years without the need for repeated appli­ca­tion requi­red for most conven­tio­nal drugs.

GQ-303 is an HDAd vector that produ­ces the protein proteo­gly­can 4 and is curr­ently in precli­ni­cal deve­lo­p­ment. Proteo­gly­can 4 (also known as lubri­cin) has been shown to have a dual mecha­nism of action in the treat­ment of osteo­ar­thri­tis: On the one hand, it has a biome­cha­ni­cal effect due to lubri­ca­ting proper­ties, and on the other hand, it has effects on mole­cu­lar mecha­nisms that lead to the inhi­bi­tion of pain, inflamma­tion and carti­lage dege­ne­ra­tion. There­fore, GQ-303 has the poten­tial to have both sympto­ma­tic and dise­ase-modi­fy­ing effi­cacy in the treat­ment of osteo­ar­thri­tis, which has already been demons­tra­ted in several precli­ni­cal in vivo models.

Gene­Quine is in advan­ced nego­tia­ti­ons with a suita­ble contract manu­fac­tu­rer for the produc­tion of GQ-303 for toxi­co­logy and clini­cal studies. Following produc­tion and formal toxi­co­logy studies with GQ-303, appro­val for a Phase 1 clini­cal trial will be sought. GeneQuine’s former lead candi­date, an HDAd vector that produ­ces the protein interleukin‑1 (now refer­red to as FX201), was sold in 2017 to the phar­maceu­ti­cal company Flexion Thera­peu­tics, Inc. (Burling­ton, USA).

Flexion has since initia­ted a Phase 1 clini­cal trial and trea­ted multi­ple pati­ents in two dose groups with FX201. Because both GQ-303 and FX201 are HDAd vectors and both are injec­ted intra-arti­cu­larly (directly into the joint), Gene­Quine esti­ma­tes that most vector-rela­ted deve­lo­p­ment risks for GQ-303 are mini­mi­zed. Although GQ-303 and FX201 are both being deve­lo­ped for knee osteo­ar­thri­tis, Gene­Quine will focus on a speci­fic pati­ent popu­la­tion with GQ-303 that can poten­ti­ally bene­fit most from the dual mecha­nism of action of proteo­gly­can 4.

Gene­Quine is also deve­lo­ping HDAd vector-based gene therapy drugs for the treat­ment of disc dege­ne­ra­tion. Despite the very high unmet medi­cal need in the treat­ment of disc dege­ne­ra­tion — one of the main causes of chro­nic low back pain — no dise­ase-modi­fy­ing drugs are avail­able for this indi­ca­tion. GeneQuine’s data show that gene therapy with HDAd vectors has great poten­tial in the deve­lo­p­ment of sympto­ma­tic and dise­ase-modi­fy­ing drugs for this disease.

“We are very plea­sed to have closed this finan­cing round and will now use the capi­tal effi­ci­ently to bring GQ-303 into the clinic, expand our gene therapy program for the treat­ment of disc dege­ne­ra­tion, and expand our HDAd vector plat­form. We would like to thank all inves­tors in this finan­cing round for their trust and support. In parti­cu­lar, we are plea­sed to have Pacira as an inves­tor with their strong exper­tise in clini­cal drug deve­lo­p­ment in the muscu­los­keletal field,” Kilian Guse, CEO of Gene­Quine (photo).

“Our equity invest­ment in Gene­Quine repres­ents a signi­fi­cant oppor­tu­nity to parti­ci­pate in the deve­lo­p­ment of what we believe is an exci­ting dise­ase-modi­fy­ing gene therapy for osteo­ar­thri­tis. Gene­Quine is conduc­ting precli­ni­cal work to support the initia­tion of human studies in appro­xi­mately two years. In addi­tion to our confi­dence in this tran­sac­tion as a sound invest­ment, we enthu­si­asti­cally look forward to the matu­ra­tion of data and for further oppor­tu­nity to parti­ci­pate in GeneQuine’s success­ful precli­ni­cal program and entry into the clinic. Import­antly, this invest­ment is consis­tent with our mission to advance inno­va­tive pain manage­ment and rege­ne­ra­tive health solu­ti­ons,” Ron Ellis, Senior Vice Presi­dent, Corpo­rate Stra­tegy and Busi­ness Deve­lo­p­ment at Pacira.

“Gene­Quine is a great example of a typi­cal HTGF invest­ment: a new gene­ti­cally engi­nee­red drug disco­very plat­form that broke comple­tely new scien­ti­fic ground when we made our seed invest­ment in 2012. That combi­ned with a strong team capa­ble of advan­cing gene therapy agents toward the clinic as effi­ci­ently as possi­ble. We look forward to suppor­ting Gene­Quine toge­ther with the inter­na­tio­nal inves­tor consor­tium and Pacira’s exper­tise in deve­lo­ping their promi­sing pipe­line,” Martin Pfis­ter, Princi­pal at High-Tech Gründerfonds

About Gene­Quine Biothe­ra­peu­tics GmbH

Gene­Quine Biothe­ra­peu­tics GmbH is a biotech company deve­lo­ping inno­va­tive gene therapy drugs for the treat­ment of muscu­los­keletal dise­a­ses. Gene­Quine uses a gene therapy plat­form to turn tissues and organs affec­ted by dise­ase into “facto­ries” for local produc­tion of thera­peu­tic prote­ins. Lead candi­date GQ-303 is being deve­lo­ped as a topi­cally applied drug for the treat­ment of osteo­ar­thri­tis and has shown great poten­tial to have sympto­ma­tic and dise­ase-modi­fy­ing effi­cacy in multi­ple animal models. GeneQuine’s former lead candi­date for the treat­ment of osteo­ar­thri­tis, which is based on the same gene therapy vector tech­no­logy as GQ-303, was sold in 2017 to phar­maceu­ti­cal company Flexion Thera­peu­tics, Inc. (Burling­ton, USA) and is curr­ently being tested in a Phase 1 clini­cal trial. Gene­Quine has a head office in Hamburg and branch offices in Lucken­walde (Grea­ter Berlin) and Liège (Belgium). www.genequine.com

About High-Tech Gründerfonds

The seed inves­tor High-Tech Grün­der­fonds (HTGF) finan­ces tech­no­logy start-ups with growth poten­tial. With a volume of around EUR 900 million spread across three funds and an inter­na­tio­nal part­ner network, HTGF has suppor­ted almost 600 start-ups since 2005. His team of expe­ri­en­ced invest­ment mana­gers and start-up experts supports the young compa­nies with know-how, entre­pre­neu­rial spirit and passion. The focus is on high-tech start-ups in the fields of digi­tal tech, indus­trial tech, life scien­ces, chemi­stry and rela­ted busi­ness areas. Over €2.8 billion in capi­tal has been inves­ted in the HTGF port­fo­lio by exter­nal inves­tors in more than 1,600 follow-on finan­cing rounds to date. In addi­tion, the fund has already success­fully sold shares in more than 100 companies.

Clark secures EUR 69m in Series C round led by Tencent

Munich — Digi­tal insurance mana­ger Clark success­fully closed a EUR 69 million Series C finan­cing round. The round was led by the Chinese Inter­net company Tencent (known among other things for the messen­ger service WeChat). In addi­tion, Portag3, White Star Capi­tal, Yabeo and Finleap again participated.

The Frank­furt-based startup intends to invest the addi­tio­nal funds in the German market: The number of custo­mers as well as brand awareness are to be signi­fi­cantly incre­a­sed through advertising.

LUTZ | ABEL advi­ses Clark on the Series C finan­cing round through the following team: Dr. Marco Eick­mann, LL.M., Phil­ipp Hoene and Dr. Sebas­tian Sumal­vico (all M&A/VC, Munich). BRP Renaud und Part­ner mbB provi­ded anti­trust and foreign trade law support with Dr. Martin Beutel­mann, LL.M. (Stutt­gart).

About LUTZ | ABEL

With around 80 lawy­ers and offices in Munich, Hamburg, Stutt­gart and Berlin, the commer­cial law firm LUTZ | ABEL provi­des advice on all aspects of commer­cial law. www.lutzabel.com.

$100 million funding round for Jedox

Frei­burg — Boston — Sing­a­pore — Jedox, an award-winning provi­der of enter­prise perfor­mance manage­ment solu­ti­ons for busi­ness plan­ning and analy­sis, today announ­ced an invest­ment of more than $100 million from global venture capi­tal and private equity firm Insight Part­ners, along with exis­ting inves­tors Iris Capi­tal, eCAPI­TAL and Wecken & Cie. This majo­rity invest­ment by Insight Part­ners comes at a time when Jedox is expe­ri­en­cing rapid global adop­tion of its market-leading cloud solu­tion for finance executives.

The new round of funding will help Jedox acce­le­rate its custo­mer growth and global expan­sion while enhan­cing its robust plat­form for cross-depart­mental inte­gra­ted busi­ness plan­ning, repor­ting and analy­tics. In parti­cu­lar, the funds will be used to grow Jedox’s product inno­va­tion team, incre­ase invest­ment in custo­mer support, and provide even grea­ter support to users in all major geogra­phic regi­ons. In addi­tion, 2021 marks the launch of indus­try-speci­fic solu­ti­ons. Toge­ther with Jedox’s dyna­mic part­ner network and stra­te­gic part­ners­hips, the scope of the solu­ti­ons will expand beyond finance and control­ling depart­ments to become a cross-func­tio­nal “Exten­ded Plan­ning & Analy­tics” (xP&A) platform.

“In an incre­a­singly fast-paced world, disrup­tion and uncer­tainty present both chal­len­ges and oppor­tu­nities for busi­nes­ses. Jedox modern cloud-based solu­ti­ons for scen­a­rio plan­ning, fore­cas­ting and mana­ging future value crea­tion enable our custo­mers to act even faster and outper­form the compe­ti­tion,” says Florian Winter­stein, CEO of Jedox. “Insight Part­ners’ invest­ment will further streng­t­hen our unique EPM plat­form and momen­tum in the market and allow us to bene­fit from the exper­tise of a leading global invest­ment partner.”

Jedox offers the most advan­ced cloud-based budge­ting, plan­ning and analy­sis tools combi­ned with a fami­liar Micro­soft Excel-based inter­face. Jedox’s enter­prise-grade “Finan­cial Plan­ning & Analy­tics” (FP&A) tools are speci­fi­cally desi­gned to acce­le­rate time-to-value for CFOs and finance execu­ti­ves. From moving exis­ting finan­cial proces­ses to the cloud to lever­aging AI and “advan­ced analy­tics” for more accu­rate and agile plan­ning, Jedox helps leading compa­nies stream­line plan­ning proces­ses at all stages of growth. Jedox has over 2,500 custo­mers world­wide, inclu­ding Amazon, McDonald’s Switz­er­land and ABB.

“Jedox offers a diffe­ren­tia­ted approach to finan­cial plan­ning through its flexi­bi­lity, fami­liar Excel-based inter­face and focus on the custo­mer,” said Jeff Lieber­man, mana­ging direc­tor at Insight Part­ners. “We are exci­ted to work with Florian and the entire Jedox team to bring outstan­ding cloud plan­ning tools to market leaders in all indus­tries around the world. Our onsite team, the largest Scal­eUp engine in the indus­try, will work with Jedox to provide stra­te­gic scaling exper­tise.” Rachel Geller, Mana­ging Direc­tor at Insight Part­ners, and Henry Fran­kie­vich, Princi­pal, will join the Board of Directors.

Jedox’s leading EPM plat­form opti­mi­zes value crea­tion and helps compa­nies move faster than the compe­ti­tion. Jedox public and private cloud offe­rings enable finance profes­sio­nals to effec­tively colla­bo­rate across depart­ments to simplify busi­ness plan­ning through a power­ful Micro­soft Excel and Power BI compa­ti­ble inter­face, while bene­fi­t­ing from arti­fi­cial intel­li­gence and advan­ced analy­tics. The tran­sac­tion is expec­ted to close in the first half of 2021.

About Jedox

Jedox simpli­fies plan­ning, analy­sis and repor­ting with a unified and cloud-based soft­ware suite. Jedox supports decision makers and busi­ness users in all depart­ments and helps them work smar­ter, opti­mize colla­bo­ra­tion and make infor­med decisi­ons. Over 2,500 compa­nies in 140 coun­tries use Jedox for plan­ning on the web, in the cloud, and on any device. Jedox is an award-winning provi­der of FP&A and enter­prise perfor­mance manage­ment solu­ti­ons with offices on four conti­nents and over 250 certi­fied busi­ness part­ners world­wide. www.jedox.com

About Insight Partners

Insight Part­ners is a leading global venture capi­tal and private equity firm inves­ting in high-growth tech­no­logy and soft­ware scale-up compa­nies that are driving trans­for­ma­tive change in their indus­tries. Since its foun­ding year in 1995, Insight Part­ners has inves­ted in more than 400 compa­nies world­wide and raised more than $30 billion in capi­tal commit­ments through a series of funds. Insight’s mission is to find, fund and success­fully part­ner with visio­nary leaders by provi­ding them with prac­ti­cal, real-world soft­ware exper­tise to drive long-term success. Through its people and port­fo­lio, Insight fosters a culture based on the belief that Scal­eUp compa­nies and growth create oppor­tu­nities for all. For more infor­ma­tion about Insight and all of its invest­ments, visit insightpartners.com .

SHS participates as lead investor in Blue Ocean Spine

Tübingen/ Tutt­lin­gen — SHS Gesell­schaft für Betei­li­gungs­ma­nage­ment mbH from Tübin­gen is parti­ci­pa­ting as lead inves­tor in the Tutt­lin­gen-based specia­list for func­tio­nal spinal implants Blue Ocean Spine GmbH.

For SHS and the foun­der of Blue Ocean Spine, Gunt­mar Eisen, this is already the second colla­bo­ra­tion — the joint company EIT Emer­ging Implant Tech­no­lo­gies GmbH was sold to an inter­na­tio­nal medi­cal tech­no­logy group in 2018. Unlike tradi­tio­nal cage implants for inter­ver­te­bral spaces, Blue Ocean Spine’s implants will allow surge­ons to elimi­nate the need for addi­tio­nal screw fixa­tion. In addi­tion, they will no longer need to stock a multi­tude of implant vari­ants in diffe­rent sizes and dimen­si­ons. This should make proce­du­res more effi­ci­ent for surge­ons and safer for patients.

Back pain is probably more preva­lent in Western socie­ties than any other pain. While most back comp­laints are nowa­days trea­ted conser­va­tively, i.e. with drugs and physio­the­rapy, severe dege­ne­ra­tive dise­a­ses, which are usually accom­pa­nied by insta­bi­lity of the spine, can only be trea­ted with surgery.

This usually invol­ves the use of a fusion implant to stabi­lize the spine. The disc place­hol­der, called a cage, is implan­ted and fixed between the verte­brae. In most cases, addi­tio­nal stabi­liz­a­tion is achie­ved with screws and rod systems.

Inno­va­tive, custo­miz­able spinal implant

Expe­ri­en­ced engi­neer Gunt­mar Eisen is now deve­lo­ping a port­fo­lio of inno­va­tive, func­tio­nal and adap­ta­ble cage systems with his Tutt­lin­gen-based company Blue Ocean Spine — some of these implants should be able to do comple­tely without addi­tio­nal screw fixation.

“With Blue Ocean Spine’s systems, we’re dealing with next-genera­tion cage implants,” said Patrick Frohn­hei­ser, invest­ment mana­ger at SHS. “Inter­ven­ti­ons will thus be faster and safer. We are convin­ced that these systems will become popu­lar and want to support Blue Ocean Spine with equity and our large network.”

Blue Ocean Spine’s various implants are manu­fac­tu­red using the 3D prin­ting process. This can result in a signi­fi­cant cost advan­tage compa­red to compe­ti­tive systems. So-called expan­da­ble cages can be adjus­ted inde­pendently in height, width and lordosis angle. Previously, a clinic had to stock a variety of rigid cage implants in diffe­rent designs for diffe­rent pati­ents. This is time-consuming and expen­sive. The new genera­tion of Blue Ocean Spine Cages will signi­fi­cantly reduce these costs in the future. Other models in the Blue Ocean Spine port­fo­lio have inte­gra­ted anchors that can be secu­rely fixed between the patient’s verte­brae by the surgeon in just a few steps, suppor­ting mini­mally inva­sive access tech­ni­ques. In some cases, addi­tio­nal screw fittings become obsolete.

Conti­nua­tion of a success­ful partnership

“We are plea­sed to have SHS as an expe­ri­en­ced indus­try inves­tor back on board as a part­ner and can now work at full speed on the deve­lo­p­ment and produc­tion of our inno­va­tive cage implants,” says company foun­der Gunt­mar Eisen, who has been active in spine surgery for more than 25 years and has already foun­ded and sold a number of inno­va­tive compa­nies. “If all goes accord­ing to plan, we will apply for FDA appro­val in the U.S. as early as 2022, which is the largest market for spinal implants.”

“Gunt­mar Eisen is one of the most success­ful German entre­pre­neurs in medi­cal tech­no­logy. We are very plea­sed to conti­nue our trust­ful coope­ra­tion. Blue Ocean Spine is an excel­lent addi­tion with a lot of poten­tial for our fifth fund genera­tion,” says Dr. Bern­hard Schir­mers, Mana­ging Part­ner of SHS.

About SHS Gesell­schaft für Betei­li­gungs­ma­nage­ment mbH

Tübin­gen-based SHS Gesell­schaft für Betei­li­gungs­ma­nage­ment invests in medi­cal tech­no­logy and life science compa­nies with a focus on expan­sion finan­cing, share­hol­der chan­ges and succes­sion situa­tions. In doing so, SHS enters into both mino­rity and majo­rity share­hol­dings. As an expe­ri­en­ced indus­try inves­tor, the company, which was foun­ded in 1993, supports the growth of its port­fo­lio compa­nies through a network of colla­bo­ra­ti­ons, for example in the intro­duc­tion of new products, regu­la­tory issues or entry into addi­tio­nal markets. The German and inter­na­tio­nal inves­tors in SHS funds include profes­sio­nal pension funds, pension funds, stra­te­gic inves­tors, funds of funds, family offices, entre­pre­neurs and the SHS manage­ment team. The equity invest­ment of the AIFM-regis­tered company is up to € 30 million, volu­mes excee­ding this can be imple­men­ted with a network of co-inves­tors. Curr­ently, SHS is inves­ting from its fifth fund. The fund has recei­ved capi­tal commit­ments of over 130 million euros.

Start­seite

About Blue Ocean Spine GmbH

Blue Ocean Spine GmbH, based in Tutt­lin­gen, Germany, deve­lops and markets inno­va­tive, func­tio­nal spinal implants to support mini­mally inva­sive fusion surgery in spine surgery. The company uses addi­tive manu­fac­tu­ring proces­ses to combine better func­tio­n­a­lity and unique product features with cost effi­ci­ency. Expan­da­ble fusion cage designs allow for better adap­t­ation to indi­vi­dual pati­ent anatomy and precise resto­ra­tion of segmental height and realign­ment of spinal curvat­ure. This signi­fi­cantly redu­ces the stock in clinics. Inte­gra­ted, exten­d­a­ble anchors in ALIF and late­ral fusion scages support mini­mally inva­sive surgi­cal approa­ches to the spine and allow secure fixa­tion in the inter­ver­te­bral space without addi­tio­nal screw fixation.
www.blueoceanspine.com for more information.

TCV: Lead investor in 130-million-euro transaction. Series C round in Spryker

New York/ Berlin/ Frank­furt a. M. — Finan­cial inves­tor TCV invests in Spry­ker Systems GmbH (“Spry­ker”) advi­sed. The Series C finan­cing round was led by TCV as lead inves­tor. Exis­ting inves­tors One Peak Part­ners and Project A also parti­ci­pa­ted in the finan­cing round tota­ling over USD 130 million. With this, Spry­ker exceeds a valua­tion of USD 500 million. The Frank­furt and Munich offices of the inter­na­tio­nal law firm Weil, Gotshal & Manges LLP advi­sed the finan­cial inves­tor TCV on its invest­ment in Spryker.

About Spry­ker
Spry­ker deve­lops e‑commerce solu­ti­ons for its custo­mers at the highest level. The new capi­tal will be used to conti­nue global growth. The funding will be used to further deve­lop Spryker’s already popu­lar B2B and enter­prise market­place products, provide a leading AppS­tore for tech­no­logy part­ners and acce­le­rate global growth. In parti­cu­lar, the US, which already accounts for over 10% of Spry­ker Software’s reve­nue, is the focus of expan­sion. Spry­ker also plans to hire many new employees globally to expand its market leaders­hip posi­tion and deve­lop new products for future models and inter­faces in IoT commerce, click & collect and subscrip­tion commerce. More and more custo­mers are trans­forming their orga­niz­a­ti­ons into so-called “compo­sable enter­pri­ses” led by multi­di­sci­pli­nary “fusion teams” from IT and busi­ness. Spry­ker is at the spear­head of this change it has helped shape and predic­ted since its inception.

Advi­sor to TVC: Weil, Gotshal & Manges LLP

The Weil team for this tran­sac­tion was led by Frank­furt-based Corpo­rate Part­ner Dr. Chris­tian Tapp­ei­ner and inclu­ded Coun­sel Konrad v. Buch­waldt (Corpo­rate, Frank­furt) and Benja­min Rapp (Tax, Munich) as well as Asso­cia­tes Julian Schwa­ne­beck, Sara Afschar-Hamdi, Mario Kuhn (all Corpo­rate, Frank­furt), Mareike Pfeif­fer, Lili­anna Ranody (both Labor, Frank­furt), Markus Cejka (Finance, Frank­furt), Dr. Khatera Zuschlag (Commercial/Regulatory, Frank­furt), Alisa Preiß­ler (Tax, Frank­furt), and Para­le­gal Nata­scha Späth (Corpo­rate, Frankfurt).

Advi­sors to Spry­ker: honert + part­ner (Hamburg)

Part­ner Dr. Jan-Chris­tian Heins and Asso­ciate Chris­tina Frig­ger advised.

Consul­tant Project A: SMP

Benja­min Ullrich (Co-Lead, Tran­sac­tions), Partner
Fabian Euhus (Co-Lead, Funds), Partner
Adrian Haase (Tran­sac­tions), Senior Associate

About TCV
Foun­ded in 1995, TCV is one of Sili­con Valley’s leading inter­na­tio­nal growth capi­tal firms, suppor­ting private and public growth-stage compa­nies. Over the past 25 years, TCV has inves­ted over $14 billion in more than 350 leading high-tech compa­nies and assis­ted CEOs in more than 125 IPOs and stra­te­gic acqui­si­ti­ons. TCV has inves­ted in compa­nies such as Airbnb, AxiomSL, Dollar Shave Club, Exact­Tar­get, Expe­dia, Face­book, LinkedIn, Netflix, Nubank, Payo­neer, Splunk, Spotify, Strava, Toast, Xero, and Zillow. In Europe, TCV has inves­ted over $2 billion in compa­nies such as Believe Digi­tal, Brillen.de, Flix­Mo­bi­lity, Klarna, Mollie, Perfecto, Redis Labs, RELEX Solu­ti­ons, Revo­lut, RMS, Spor­t­ra­dar, The Pracuj Group, and World­Re­mit. TCV is head­quar­te­red in Menlo Park, Cali­for­nia, with offices in New York and London.

About Weil, Gotshal & Manges LLP 
Weil, Gotshal & Manges is an inter­na­tio­nal law firm with more than 1,100 lawy­ers, inclu­ding appro­xi­mately 300 part­ners. Weil is head­quar­te­red in New York and has offices in Boston, Dallas, Frank­furt, Hong Kong, Hous­ton, London, Miami, Munich, Paris, Beijing, Prince­ton, Shang­hai, Sili­con Valley, Warsaw and Washing­ton, D.C.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Cologne.

RightNow: Series A financing of USD 10.5 million

Frank­furt a.M. — Good­win advi­sed the legal tech company Right­Now GmbH on a Series A finan­cing of $10.5 million. Lead inves­tors are venture capi­ta­list VR Ventures and the family office of Schwarz­wäl­der Boten, which in turn was advi­sed by VC inves­tor Redstone.

VR Ventures also faci­li­ta­ted an invest­ment in the bond issued by Right­Now to purchase government-guaran­teed Covid19 travel vouchers.

Right­Now had already recei­ved $2.1 million in a pre-Series A finan­cing in a first closing that inclu­ded parti­ci­pa­tion from the foun­ders of Triv­ago in 2019.

Foun­ded in 2017, Right­Now GmbH is consi­de­red one of the pioneers in the moder­niz­a­tion of consu­mer protec­tion. The start-up, which specia­li­zes in “consu­mer claims purcha­sing,” buys claims from consu­mers against airlines, tour opera­tors, hotels, insurance compa­nies and other compa­nies and asserts the claims at its own risk. Right­Now foun­ders Dr. Torben Antret­ter, Phil­lip Eischet and Dr. Bene­dikt M. Quarch were recently named to the “30 under 30” by Forbes magazine.

Advi­sor Right­Now GmbH: Good­win, Frank­furt a.M.

Gregor Klenk (Part­ner, Private Equity, Lead), Heiko Penn­dorf (Part­ner, Tax), Joana Pamu­kova (Asso­ciate, Private Equity)

About VR Ventures

Foun­ded in Febru­ary 2020, the venture capi­tal fund VR Ventures sees itself as an inno­va­tion driver in the finance and real estate indus­try. The fund’s invest­ment focus is on star­tups in FinTech and Prop­T­ech as well as adja­cent digi­tal busi­ness solu­ti­ons for small and medium-sized enter­pri­ses. Invests in the best teams and solu­ti­ons across Europe from the late seed stage.

VR Ventures is backed by the Berli­ner Volks­bank Ventures team, which has been mana­ging Berli­ner Volksbank’s startup invest­ments since 2015. The exis­ting part­ners­hip with Redstone Digi­tal will also conti­nue. Andreas Laule (Mana­ging Direc­tor, VR Ventures): “The idea of VR Ventures is to build on the expe­ri­ence of Berli­ner Volks­bank Ventures and provide parti­ci­pa­ting inves­tors with immediate access to stra­te­gi­cally rele­vant star­tups in addi­tion to an attrac­tive return.”

Timo Fleig (Mana­ging Direc­tor, VR Ventures): “We invest in indus­tries where we know our way around and where our inves­tors do busi­ness them­sel­ves. This market know­ledge not only helps us to select strong port­fo­lio compa­nies, rather we want to bring our expe­ri­ence and strong network to the colla­bo­ra­tion and seize the oppor­tu­nities of digi­ta­liz­a­tion toge­ther with our port­fo­lio companies.”

For the Volks- und Raiff­ei­sen­ban­ken, VR Ventures is anot­her leap into the future of banking. In addi­tion to Berli­ner Volks­bank, the following other Volks­banks and Raiff­ei­sen­banks are invol­ved in VR Ventures: Bank 1 Saar, Rhein­gauer Volks­bank, Verbund Volks­bank OWL, Volks­bank Biele­feld-Güters­loh, Volks­bank Kassel Göttin­gen, Volks­bank Rhein-Ruhr, VR-Bank Südpfalz and VR-Bank Würz­burg. In addi­tion, IDEAL Lebens­ver­si­che­rung, a company outside the Genos­sen­schaft­li­che Finanz­Gruppe, was won as an inves­tor. A total of ten inves­tors have inves­ted a total of around €40 million in the fund. Over the next twelve months, parti­ci­pa­tion in VR Ventures is open to addi­tio­nal insti­tu­tio­nal investors.

Emergence Therapeutics receives follow on seed round

Düssel­dorf, Germany, Decem­ber 9, 2020 — ARQIS advi­sed Emer­gence Thera­peu­tics AG, a Euro­pean life science startup, on its exten­ded follow-on seed finan­cing round. The capi­tal comes from a consor­tium of leading Euro­pean inves­tors, consis­ting of Bpif­rance (through its Inno­Bio 2 Fund), Grün­der­fonds Ruhr, Heidel­berg Pharma Rese­arch GmbH, High-Tech Grün­der­fonds, idin­vest Part­ners, Kurma Part­ners and NRW.Bank. The follow-on seed round was led by High-Tech Grün­der­fonds and inclu­ded support from the first pillar of the German government’s €2 billion package of measu­res for startups.

Jack Elands, CEO of Emer­gence Thera­peu­tics, said, “We are grate­ful for the conti­nued support from our inves­tors at this seed stage. Proceeds from the follow-on seed round will be used to advance our deve­lo­p­ment programs focu­sed on Nectin‑4 as a target protein — an incre­a­singly important and clini­cally vali­da­ted thera­peu­tic target across a broad spec­trum of cancers. In addi­tion, the funding will enable us to acce­le­rate work on addi­tio­nal programs and expand our ADC tool­kit to include addi­tio­nal highly inno­va­tive linker payload technologies.”

Emer­gence Thera­peu­tics is a biophar­maceu­ti­cal company deve­lo­ping novel anti­body-drug conju­ga­tes (ADCs) for the treat­ment of cancers with high unmet medi­cal need. Its lead program uses inno­va­tive linker and payload tech­no­logy to address Nectin‑4, an important and vali­da­ted target for a broad range of cancers. In addi­tion, the company is actively explo­ring and deve­lo­ping oppor­tu­nities to deve­lop addi­tio­nal best- or first-in-class ADCs based on thera­peu­tic need. Emer­gence is based in Duis­burg, Germany, and has a subsi­diary in Marseille, France.

The ARQIS team led by part­ner Dr. Chris­tof Alex­an­der Schnei­der already star­ted advi­sing Emer­gence Thera­peu­tics in 2019, when the startup was foun­ded via a colla­bo­ra­tion between (inter alia) the Univer­sity of Marseille and Heidel­berg Pharma AG. As a result, the firm orga­ni­zed the prece­ding finan­cing round.

Advi­sor Emer­gence Thera­peu­tics: ARQIS Attor­neys at Law

Dr. Chris­tof Alex­an­der Schnei­der (Lead; Tran­sac­tions; Düssel­dorf), Dr. Mauritz von Einem (Tax Law); Asso­ciate: Louisa Theresa Graf (Tran­sac­tions; both Munich)
Niit­väli (Frank­furt): Evelyn Niit­väli (Anti­trust)

About ARQIS

ARQIS Attor­neys at Law is an inde­pen­dent busi­ness law firm opera­ting in Germany and Japan. The firm was foun­ded in 2006 in Düssel­dorf, Munich and Tokyo. Around 55 profes­sio­nals advise domestic and foreign compa­nies at the highest level on German and Japa­nese busi­ness law. For more infor­ma­tion, visit www.arqis.com.

f.l.t.r.: Stefan Nagel, Jan Hillered, Christian Czernich, Isabella Hermann-Schön

Round2 Capital invests in scale-up Avallain

Vienna/ Zurich — Austrian growth finance invest­ment fund Round2 Capi­tal has inves­ted a seven-figure sum in Swiss EdTech scale-up Aval­lain. With its inno­va­tive reve­nue-based finan­cing approach for growth-stage compa­nies, which is more acces­si­ble than bank loans and offers more favor­able terms than venture capi­tal, Round2 invests in leading tech­no­logy and soft­ware scale-ups in Europe. Photo: Round2 Capi­tal manage­ment team from left to right: Stefan Nagel, Jan Hille­red, Chris­tian Czer­nich, Isabella Hermann-Schön . Award-winning e‑learning and EdTech pioneer Aval­lain is using the funds raised to expand its product offe­ring for corpo­rate use cases and to further streng­t­hen its inter­na­tio­nal market position.

After Round2 Capi­tal further expan­ded its already two-year part­ners­hip with Munich-based cyber­se­cu­rity company Myra Secu­rity with a double-digit million invest­ment at the begin­ning of Novem­ber, mana­ging direc­tor Dr. Chris­tian Czer­nich has now announ­ced a further seven-figure finan­cing. The new member of the Round2 Capi­tal family is Swiss company Aval­lain, which provi­des cutting-edge e‑learning and EdTech solu­ti­ons for clients — such as Oxford Univer­sity Press and Natio­nal Geogra­phic — Lear­ning-Cengage. i5invest acted as advi­sor to Aval­lain AG, which sees this measure as an important step towards scaling Avallain’s new product business.

“Aval­lain is a leading Euro­pean player in the EdTech market. With this invest­ment, we are adding a third company based in Switz­er­land to our port­fo­lio. The foun­ders — Ursula Suter and Ignatz Heinz — have mana­ged to build up their busi­ness inde­pendently and estab­lish an impres­sive custo­mer base — espe­cially in the acade­mic market. We are exci­ted to provide the growth capi­tal to expand their products and services for the corpo­rate space,” said Chris­tian Czer­nich, CEO and Co-Foun­der Round2 Capi­tal Part­ners. The invest­ment will be used by Aval­lain to further deve­lop and scale the “Aval­lain Magnet” product for corpo­rate educa­tion and training.

Vienna-based finan­cing provi­der Round2 Capi­tal is the pioneer of reve­nue-based finance in Europe. Previously widely used for finan­cing tech­no­logy and soft­ware compa­nies, parti­cu­larly in the U.S., the model was adop­ted in Europe — by several other provi­ders in the U.K. and Germany — following its launch by Round2 in 2017. The inno­va­tive finan­cing instru­ment helps to fund the growth of compa­nies without perso­nal guaran­tees, rigid repay­ment sche­du­les or dilu­tion of owners­hip. In return, Round2 Capi­tal is provi­ded a small share from the company’s reve­nue until a prede­fi­ned cap is reached. With this approach, Round2 Capi­tal finan­ces leading Euro­pean tech­no­logy scale-ups.

About Round2 Capital
Round2 Capi­tal is a fast-growing Euro­pean invest­ment fund with €30 million in capi­tal under manage­ment. The Vienna-based company is a strong part­ner for Euro­pean scale-ups with digi­tal and sustainable busi­ness models. Since its incep­tion in 2017, Round2 Capi­tal has been pionee­ring reve­nue-based finance in Europe and is active in several Euro­pean coun­tries, with a focus on Germany, Switz­er­land, Austria and the Nordic coun­tries. To date, Round2 Capi­tal has inves­ted in 13 compa­nies, with Aval­lain being the newest company in the port­fo­lio. With this third invest­ment in Switz­er­land, Round2 Capi­tal further streng­t­hens its market posi­tion. www.round2cap.com

Company Aval­lain
Foun­ded in 2002 by EdTech pioneers Ursula Suter and Ignatz Heinz, Aval­lain is an award-winning Swiss provi­der of EdTech and eLear­ning solu­ti­ons, working with leading brands world­wide. The company’s mission is to unleash human poten­tial through inno­va­tive and tech­no­logy-based educa­tion. Avallain’s team spans five conti­nents and repres­ents more than 14 nati­ons. The company is an active parti­ci­pant in the UN Global Compact and aims to advance the SDGs by achie­ving a zero carbon foot­print and contri­bu­ting to posi­tive social change in sub-Saha­ran Africa through the Aval­lain Foun­da­tion. www.avallain.com

Project A and Oakley Capital invest in Windstar Medical

Berlin — SMP advi­sed Berlin-based venture capi­ta­list Project A on its invest­ment in health­tech company Wind­star Medi­cal. Toge­ther with London-based private equity inves­tor Oakley Capi­tal, Project A inves­ted in the Wert­heim-based provi­der of health­care products, whose mission is to deve­lop compa­nies and brands in the exten­ded health­care market and support them in their expan­sion. The parties have agreed not to disc­lose details of the tran­sac­tion. Compre­hen­sive legal and tax advice was again provi­ded to Project A by an SMP team. SMP has already suppor­ted the early-stage inves­tor in a large number of invest­ments in Germany and abroad and has laun­ched three fund genera­ti­ons for him. Tim Schlös­ser and Malte Berg­mann took the lead for this mandate.

Project A

Project A is one of the leading venture capi­tal firms in Europe, based in Berlin, with bran­ches in Munich and London. In addi­tion to $500M in capi­tal under manage­ment, Project A provi­des opera­tio­nal support services to its port­fo­lio compa­nies: this inclu­des more than 110 employees in soft­ware deve­lo­p­ment, busi­ness intel­li­gence, marke­ting, recrui­t­ing and many others. Project A was named Germany’s best VC by Busi­ness Insi­der 2020 maga­zine. Since its foun­ding in 2012, Project A has suppor­ted more than 60 star­tups in 12 coun­tries. The port­fo­lio inclu­des compa­nies such as Cata­wiki, World­Re­mit, Home­day, Spry­ker, senn­der, KRY, Trade Repu­blic or Voi.

Oakley Capi­tal

Oakley Capi­tal is a private equity inves­tor based in London and Munich. The company was foun­ded in 2002 by Peter Dubens with the goal of crea­ting a funding part­ner that under­stands the needs of foun­ders and invests time, expe­ri­ence and capi­tal to help them grow and succeed. Oakley Capi­tal supports compa­nies in a variety of indus­tries throughout Western Europe, prima­rily in the tech­no­logy, consu­mer and educa­tion sectors.

Wind­star Medical

Wind­star Medi­cal is one of the leading provi­ders of non-phar­macy health­care products. High-quality dietary supple­ments, medi­cal devices and over-the-coun­ter medi­ci­nes enter drugs­to­res, super­mar­kets and discount stores through Wind­star. Windstar’s port­fo­lio inclu­des over 500 items, inclu­ding both its own brands and a variety of private labels. Wind­star supports its custo­mers throughout the entire process, from the deve­lo­p­ment of the product to its launch. Wind­star employs around 100 people at three loca­ti­ons in Germany. The head­quar­ters and admi­nis­tra­tive head­quar­ters of the health­tech company are loca­ted in Wehrheim.

About SMP

SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Cologne.

Consul­tant Project A: SMP

Dr. Tim Schlös­ser (Co-Lead, Corpo­rate), Partner
Dr. Malte Berg­mann (Co-Lead, Tax), Partner

Image by Horst-Uwe Günner

ARQIS accompanies Pre-Series A of SkyFive AG

Munich — ARQIS advi­sed SkyFive AG on its Pre-Series A finan­cing round. The invest­ment round was led by a large insti­tu­tio­nal inves­tor from Germany. This joined exis­ting inves­tors, all of whom doubled their initial invest­ment. In addi­tion, two well-known private inves­tors joined the company: Louis Belan­ger-Martin, serial entre­pre­neur and co-foun­der of Global Eagle, and Alain Lejeune, an expe­ri­en­ced mana­ger from the telecom­mu­ni­ca­ti­ons indus­try with firm roots in China.

SkyFive provi­des high-speed broad­band services to the avia­tion indus­try — based on its paten­ted Air-To-Ground (A2G) solu­tion that uses stan­dard mobile network compon­ents. A2G is the only tech­no­logy that can serve the ever-growing demand for broad­band connec­ti­vity in the sky. Here, broad­band connec­ti­vity is a key factor in impro­ving opera­tio­nal effi­ci­ency, genera­ting ancil­lary reve­nue, and also provi­ding a safer travel expe­ri­ence that requi­res fewer conta­cts and touches.

SkyFive’s A2G solu­tion is already deployed across Europe. Most recently, SkyFive signed an agree­ment with Airbus in August to provide an A2G solu­tion for China, which has become the largest air-traf­fic market. The capi­tal from the current finan­cing round will enable SkyFive to expand its services and acce­le­rate its global expansion.

The ARQIS team around Dr. Mauritz von Einem and Prof. Dr. Chris­toph von Einem already suppor­ted SkyFive in the acqui­si­tion of the key assets of Nokia’s A2G busi­ness as well as in the seed finan­cing at the end of last year. In the run-up to the current finan­cing round, ARQIS had also mana­ged the conver­sion of SkyFive into a public company in the summer of 2020. Curr­ently, ARQIS is already mana­ging nego­tia­ti­ons with a number of inter­na­tio­nal insti­tu­tio­nal inves­tors for the Series A finan­cing round that SkyFive aims to close in early 2021.

Advisor SkyFive: ARQIS Rechtsanwälte (Munich)

Dr. Mauritz von Einem and Prof. Dr. Chris­toph von Einem, Foto (both lead; both Tran­sac­tions), Marcus Noth­hel­fer (IP); Asso­cia­tes: Benja­min Bandur, Louisa Theresa Graf (both Tran­sac­tions), Nora Meyer-Strat­mann (IP), Tanja Kurtzer (Labor Law)

About ARQIS
ARQIS Attor­neys at Law is an inde­pen­dent busi­ness law firm opera­ting in Germany and Japan. The firm was foun­ded in 2006 in Düssel­dorf, Munich and Tokyo. Around 55 profes­sio­nals advise domestic and foreign compa­nies at the highest level on German and Japa­nese busi­ness law. For more infor­ma­tion, visit www.arqis.com.

Startup SellerX: prominent Euro 100 million seed financing round

Berlin — SMP advi­sed the startup SellerX on its seed finan­cing round. The company’s equity and debt finan­cing was led by Cherry Ventures, Felix Capi­tal, and Sili­con Valley-based VC Triple­Point Capi­tal, tota­ling €100 million. Other inves­tors include Village Global and several busi­ness angels, inclu­ding Zalando co-foun­der David Schnei­der and former Amazon UK CEO Chris North.

SellerX says it plans to use the fresh capi­tal to acquire up to 40 Amazon stores over the next 18 months, as well as expand its team. A team led by SMP part­ner Martin Scha­per provi­ded legal advice to SellerX in connec­tion with the debt finan­cing in the seed finan­cing round.

“Acqui­ring and growing Amazon stores is certainly one of the hottest busi­ness models right now. Congra­tu­la­ti­ons to the entire SellerX team on this remar­kable achie­ve­ment. “, says Martin Schaper.

SellerX
SellerX is a VC-funded startup that buys and builds out Amazon stores. With its growing and diver­si­fied port­fo­lio of FBA (Fulfill­ment by Amazon) sellers, SellerX aims to further opti­mize and grow its acqui­red busi­nes­ses to estab­lish sustainable consu­mer brands in the home, garden and pet supply cate­go­ries. The Berlin-based company was foun­ded in 2020 by Phil­ipp Trie­bel and Malte Horeyseck and curr­ently employs around 25 people, accord­ing to the company.

Consul­tant SellerX: SMP
Dr. Martin Scha­per, Partner
Dr. Martyna Sabat, Associate
Matthias Kres­ser, Senior Associate

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Speedinvest launches second focus fund generation Speedinvest x 2

Berlin/ Vienna — SMP advi­sed the Euro­pean VC inves­tor Speedin­vest on the struc­tu­ring of the second focus fund genera­tion Speedin­vest x 2. The back­ers again include the two anchor inves­tors of the first Speedin­vest fund, Russ­me­dia and the Styria Media Group from Austria. The Speedin­vest x 2 focus fund invests in pre-seed, seed and Series A finan­cing rounds of promi­sing star­tups in the digi­tal market­pla­ces and network effects sectors. Speedin­vest recei­ved compre­hen­sive legal advice from a team led by SMP part­ner Stephan Bank.

“With the various focus funds, Speedin­vest bund­les concen­tra­ted sector exper­tise. The success of this invest­ment stra­tegy was recently demons­tra­ted again in the USD 250 million Series C round of the port­fo­lio company Tier Mobi­lity. We are very plea­sed that SMP was able to accom­pany the largest Austrian VC fund after the struc­tu­ring of the Speedin­vest 3 fund now also in the launch of the second focus fund genera­tion of Speedin­vest x 2″, says Stephan Bank.

About Speedin­vest
Speedin­vest is a Euro­pean venture capi­ta­list head­quar­te­red in Vienna that focu­ses on early-stage invest­ments in Deep­T­ech, FinTech, Digi­tal Health, Consu­mer­Tech, Indus­tri­al­Tech and Network Effects. Speedin­vest relies on a combi­na­tion of hori­zon­tal fund genera­ti­ons and verti­cal focus funds docked to them. Speedin­vest Group employs more than 40 invest­ment profes­sio­nals who work toge­ther in sector-focu­sed teams and 20 opera­tio­nal profes­sio­nals who provide full-service HR, marke­ting, busi­ness deve­lo­p­ment and U.S. expan­sion support to port­fo­lio compa­nies. Speedin­vest has offices in London, Berlin, Paris, Munich, Vienna and San Fran­cisco. Speedinvest’s port­fo­lio compa­nies include Tier Mobi­lity, Wefox, Legal OS, Planetly, Candis and Fincompare.

Advi­sor Speedin­vest: SMP
Dr. Stephan Bank (structuring/lead manage­ment), Partner
Matthias Enge (Struc­tu­ring), Asso­cia­ted Partner
Lenn­art Lorenz (Regu­la­tory Law), Partner
Dr. Niklas Ulrich (Regu­la­tory Law), Associate

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners are natio­nally and inter­na­tio­nally ranked by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Seed round: USD 1.7 million for AML/KYC compliance provider Notabene

Munich / Dela­ware — The fintech startup specia­li­zing in block­chain compli­ance solutions
Dela­ware-basedNota­bene has raised a seed funding round of USD 1.7
million comple­ted. The panel was led by block­chain and
Fintech inves­tors Castle Island Ventures and Green Visor Capi­tal from the
USA. As a Euro­pean inves­tor from the very begin­ning, the early-stage
Block­chain fund Signa­ture Ventures, based in Munich and Berlin, has already
inves­ted in the company since July of this year.

Nota­bly, block­chain enab­les compa­nies such as crypto exch­an­ges to meet the increasingly
to meet new compli­ance requi­re­ments. The plat­form makes it possi­ble for
Compli­ance depart­ments consi­der­ably easier and more cost-effective,
Risk-based moni­to­ring of tran­sac­tions for KYC stan­dards and possi­ble money laundering.
check The inter­na­tio­nal company with head­quar­ters in the USA and the
Switz­er­land was foun­ded at the begin­ning of 2020 by an indus­try-expe­ri­en­ced and diverse
Foun­ding team estab­lis­hed from Europe, the USA and South America
cooperates.

About Signa­ture Ventures
Block­chain marks the next step in the evolu­tion of digi­tal trans­for­ma­tion by shif­ting the para­digm from centra­li­zed data silos to decen­tra­li­zed, open data flows with the user at the heart of it.
As a dedi­ca­ted Block­chain fund with top-level indus­try experts, we are firmly rooted in the crypto commu­nity. We have access to an exten­sive ecosys­tem linking key Block­chain indus­try play­ers, VCs, corpo­ra­tes and acade­mics to connect and acce­le­rate our port­fo­lio compa­nies with the best busi­ness oppor­tu­nities. Our vast indus­try exper­tise and network makes us attrac­tive for highly specia­li­zed star­tups and foun­ders who are looking for smart money.

Flick Gocke Schaumburg advises on Enpal financing round

Within a short period of time, Enpal mana­ged to close two rounds of finan­cing with Zalando foun­ders Robert Gentz, David Schnei­der and Rubin Ritter, as well as with Prince­ville Climate Tech­no­logy, an invest­ment fund backed and finan­ced by actor and envi­ron­men­tal acti­vist Leonardo DiCa­prio. Flick Gocke Schaum­burg advi­sed tech entre­pre­neur Lukasz Gadow­ski (photo) on various rounds of finan­cing for Berlin-based solar start-up Enpal.

Lukasz Gadow­ski hims­elf and Alex­an­der Samwer’s fund Picus Capi­tal, which also has a stake in Enpal, had inves­ted in previous finan­cing rounds. On this occa­sion, Flick Gocke Schaum­burg also already stood along­side Lukasz Gadowski.

Enpal now has 400 employees and offers solar systems for rent. Homeow­ners can obtain green power modu­les more cost-effec­tively through the rental model than is possi­ble through purchase. At the end of the lease term, tenants can purchase the modules.

Advi­sor Lukasz Gadow­ski: Flick Gocke Schaum­burg (Berlin)
Mathias Bülow (lead); Asso­ciate: Justus Bode (both Private Equity/Venture Capital)

Mig fund leads Euro 39 million financing round at IQM Finland Oy

Finland — IQM Quan­tum Compu­ters, the Euro­pean leader in the deve­lo­p­ment and manu­fac­ture of super­con­duc­ting quan­tum compu­ters, secu­res EUR 39 million in a new round of finan­cing. This brings the total amount raised to date to EUR 71 million — one of the highest amounts raised by a Euro­pean deep tech start-up in a single year.

Lead inves­tor MIG led the round of exis­ting inves­tors, inclu­ding Tesi, OpenO­cean, Maki.vc, Vito Ventures and Matadero QED, as well as new inves­tors inclu­ding Vsqua­red, Salvia GmbH, Santo Venture Capi­tal and Tencent.

Head­quar­te­red in Helsinki with a second office in Munich, the deep-tech company supplies commer­cially avail­able quan­tum compu­ters for rese­arch labo­ra­to­ries and super­com­pu­ting centers. The high-perfor­mance compu­ters are expec­ted to solve extre­mely complex compu­ta­tio­nal tasks within hours — a task that previously took several years. Through a unique co-design approach, IQM provi­des quan­tum bene­fits to indus­trial custo­mers through appli­ca­tion-speci­fic proces­sors. The company thus supplies the complete hard­ware stack for a quan­tum compu­ter, which inte­gra­tes various tech­no­lo­gies and enab­les coope­ra­tion with quan­tum soft­ware companies.

Quan­tum compu­ting is still in a rela­tively early stage of deve­lo­p­ment, but experts say it will gain elemen­tal impor­t­ance in the coming decade, making major breakthroughs in health­care, logistics, finance, chemi­stry and other fields.

IQM is one of the fastest growing compa­nies in the quan­tum compu­ting sector and already has one of the world’s largest quan­tum engi­nee­ring teams. Funding from the current round will be used to acce­le­rate hard­ware deve­lo­p­ment and produce appli­ca­tion-speci­fic quan­tum compu­ters. In addi­tion, a large portion of the funding will go toward retai­ning and retai­ning the best talent in quan­tum compu­ting, as well as the sales and busi­ness deve­lo­p­ment teams.

Advi­sor to MIG Fund: LUTZ | ABEL Rechts­an­walts PartG mbB
MIG Fonds is a long-term client of LUTZ | ABEL. In the current finan­cing round, the advi­sory team consis­ted of Dr. Bern­hard Noreisch, LL.M. (lead) and Jan-Phil­lip Kunz, LL.M. (both VC / M&A, Munich) together.

CatalYm: Euro 50 million Series‑B for development in immuno-oncology

Munich, Germany — Cata­lYm, an inno­va­tive biotech company deve­lo­ping novel immu­no­the­rapy approa­ches against cancer, has success­fully closed its €50 million Series B finan­cing. The finan­cing consor­tium, led by lead inves­tor Vesa­lius Bioca­pi­tal III, also inclu­des Novar­tis Venture Fund (NVF), Wachs­tums­fonds Bayern, copa­rion and foun­ding inves­tors Forbion and BioGe­nera­tion Ventures. Repre­sen­ta­ti­ves from Vesa­lius, NVF and Bayern Kapi­tal will join the advi­sory board as new members.

The funding combi­ned with the strong commit­ment of exis­ting and new venture capi­tal inves­tors enab­les the all-important further deve­lo­p­ment of anti­bo­dies in the field of immuno-onco­logy. — Baker McKen­zie ’s Life Scien­ces team, led by Julia Braun, advi­sed Cata­lYm on all legal aspects of the Series B financing.

“The times of COVID-19 in parti­cu­lar are an exci­ting period for our client and the indus­try as a whole. Toge­ther with our client and our team of specia­li­zed biotech­no­logy and life scien­ces lawy­ers, we success­fully secu­red funds for further rese­arch in the health­care sector with this tran­sac­tion,” commen­ted Coun­sel Julia Braun.

Cata­lYm is a biophar­maceu­ti­cal company deve­lo­ping novel cancer immu­no­the­ra­pies targe­ting growth and diffe­ren­tia­tion factor 15 (GDF-15). The company was estab­lis­hed with start-up funding from Forbion and BGV in 2016 as a spin-off of the Univer­sity Women’s Hospi­tal Würz­burg and based on the work of Prof. Dr. Jörg Wisch­hu­sen. Cata­lYm is led by an expe­ri­en­ced manage­ment team with exten­sive exper­tise in immuno-onco­logy drug deve­lo­p­ment and deal expe­ri­ence, and suppor­ted by inter­na­tio­nal venture capitalists.

Baker McKenzie’s Corporate/M&A and Life Scien­ces team regu­larly advi­ses large phar­maceu­ti­cal, finan­cial inves­tor and early stage biotech­no­logy compa­nies on domestic and inter­na­tio­nal health­care tran­sac­tions. Most recently, Baker McKen­zie advi­sed, among others, Casdin Capi­tal as lead inves­tor in DNA Script’s USD 50 million exten­ded Series‑B finan­cing round, Chr. Hansen Holding on its acqui­si­tion of Jenne­wein, Cure­Vac on its stra­te­gic mRNA tech­no­logy colla­bo­ra­tion with GSK, LSP Life Science Part­ners on a USD 38.5 million Series‑B finan­cing in DNA Script, Gala­pa­gos on a 10-year global rese­arch and deve­lo­p­ment colla­bo­ra­tion with Gilead, Hita­chi Chemi­cal Company, Tokyo, in the acqui­si­tion of German apceth Biopharma, Forbion as lead inves­tor in a EUR 17 million Series‑C equity finan­cing of Omei­cos Thera­peu­tics and in a USD 54 million Series‑A finan­cing of Gotham Thera­peu­tics Corpo­ra­tion, Mundi­pharma in the sale of its Limburg manu­fac­tu­ring facility.

Legal advi­sor Cata­lYm: Baker McKenzie
Lead: Corporate/M&A: Julia Braun (Coun­sel, Munich)
Corporate/M&A: Bert­hold Hummel (Part­ner, Munich), Michelle Karrer, Dr. Julia Rossié (both Asso­ciate, Munich)
Public Law: Anahita Thoms (Part­ner, Düssel­dorf), Alex­an­der Ehrle (Asso­ciate, Berlin)
Anti­trust & Trade: Dr. Jonas Brueck­ner (Coun­sel, Berlin)
Pharma: Dr. Chris­tian Burholt (Part­ner, Berlin)

About Baker McKenzie
Baker McKen­zie advi­ses clients to success­fully deal with the chal­len­ges of globa­liz­a­tion. We solve complex legal problems across natio­nal borders and legal fields. Our unique culture — grown over 70 years — enab­les our 13,000 employees to under­stand local markets while opera­ting inter­na­tio­nally. We use the trus­ting and friendly coope­ra­tion in our inter­na­tio­nal network for the bene­fit of our clients.

In Germany, around 200 lawy­ers with proven profes­sio­nal exper­tise and inter­na­tio­nal expe­ri­ence repre­sent the inte­rests of their clients at the offices in Berlin, Düssel­dorf, Frankfurt/Main and Munich. As one of the leading German law firms, Baker McKen­zie advi­ses natio­nal and inter­na­tio­nal compa­nies and insti­tu­ti­ons in all areas of commer­cial law.

Exit: LEA Partners sells IDL to insightsoftware

Karls­ruhe, Germany — Tech­no­logy inves­tor LEA Part­ners (“LEA”) is selling IDL, a leading provi­der of finan­cial perfor­mance manage­ment soft­ware (FPM), to insight­soft­ware, a global leader in finan­cial repor­ting and enter­prise perfor­mance manage­ment solu­ti­ons. Behind insight­soft­ware are the two private equity inves­tors TA Asso­cia­tes and Genstar Capi­tal. The parties have agreed not to disc­lose the key points of the tran­sac­tion. The closing of the tran­sac­tion is subject to anti­trust clearance and is expec­ted in the course of this year. This is the second exit for LEA from the €200m B2B tech fund focu­sed on soft­ware compa­nies from the DACH region.

IDL has specia­li­zed in the deve­lo­p­ment of FPM soft­ware solu­ti­ons for conso­li­da­tion, plan­ning, analy­sis and repor­ting since 1990. Clas­si­fied by the analyst firm BARC as a market leader with a top posi­tion in the area of “Port­fo­lio Capa­bi­li­ties”, IDL serves corpo­rate groups and inter­na­tio­nally opera­ting medium-sized compa­nies in a wide range of industries.

LEA’s invest­ment was made in early 2019 based on its stra­tegy of inves­ting in leading soft­ware compa­nies with high shares of recur­ring reve­nue and substan­tial growth poten­tial. LEA was convin­ced by IDL’s unique market posi­tion of provi­ding mission-criti­cal soft­ware to a broad and loyal custo­mer base. LEA suppor­ted IDL in its trans­for­ma­tion from a foun­der-led company to a leading FPM provi­der in the German-spea­king region. Key initia­ti­ves here were the expan­sion of the manage­ment team, the estab­lish­ment of an indi­rect part­ner sales chan­nel, and the imple­men­ta­tion of a compre­hen­sive M&A stra­tegy. IDL was able to signi­fi­cantly expand its custo­mer base during this period and signi­fi­cantly acce­le­rate growth in reve­nues and EBITDA.

Bern­ward Egenolf, foun­der of IDL, said, “Our decision to select LEA as a part­ner for IDL’s next stage of deve­lo­p­ment has proven abso­lutely correct. We were able to launch decisive stra­te­gic initia­ti­ves and complete our product port­fo­lio through targe­ted acqui­si­ti­ons. The expe­ri­ence LEA has brought to the table has been instru­men­tal in acce­le­ra­ting our growth. We are now looking forward to bene­fi­t­ing from insightsoftware’s global network as we conti­nue to internationalize.”

Sebas­tian Müller, foun­der of LEA, added: “We were able to inten­si­vely support IDL in a variety of stra­te­gic initia­ti­ves in the areas of tech­no­logy, sales, marke­ting and M&A, thus contri­bu­ting to a signi­fi­cant acce­le­ra­tion of growth. We have enjoyed our part­ners­hip with IDL and wish the entire team much success with their new part­ner insightsoftware.”

Following BELLIN’s exit to Coupa Soft­ware in June 2020, the tran­sac­tion repres­ents the second exit from the €200 million LEA Mittel­stands­part­ner fund. LEA was advi­sed by GCA Altium and Milbank in the transaction.

About LEA Partners
LEA Part­ners, as an entre­pre­neu­rial equity part­ner, supports foun­ders and manage­ment teams at diffe­rent stages of deve­lo­p­ment in their growth and achie­ve­ment of a leading market posi­tion. Based in Karls­ruhe, one of the largest tech­no­logy clus­ters in Europe, LEA Part­ners has mana­ged invest­ments in nume­rous tech­no­logy compa­nies since 2002. With two invest­ment vehi­cles for all company phases and a strong network of opera­tio­nal sector experts as well as stra­te­gic part­ners, LEA Part­ners can contri­bute substan­tial added value to the deve­lo­p­ment of tech­no­logy companies.

Round2 Capital continues to invest in Myra Security

Munich — Myra Secu­rity recei­ves anot­her round of finan­cing from Round2 Capi­tal. The cyber secu­rity company is focu­sing on expan­sion in times of growing digi­ta­liz­a­tion. LUTZ | ABEL advi­ses Round2 Capi­tal on invest­ment in Myra Secu­rity. Round2 Capi­tal is a Vienna-based inves­tor, with a focus on scale-ups.

The Munich-based cyber secu­rity company offers its custo­mers a Secu­rity-as-a-Service cloud plat­form to protect their own data traf­fic as well as networks from poten­tial cyber attacks. The cyber secu­rity provi­der counts custo­mers such as the German government, various minis­tries, the Euro­pean Central Bank, various finan­cial insti­tu­ti­ons and global e‑commerce play­ers among its custo­mers. Against the back­drop of growing digi­tiz­a­tion, demand is incre­a­sing for solu­ti­ons to protect these often highly sensi­tive data volu­mes from attack.

As a German provi­der, Myra Secu­rity is already well posi­tio­ned in the German and Euro­pean markets. Through the invest­ment, the company aims to further expand, deve­lop its service and incre­ase its brand awareness.

Advi­sor Round2 Capi­tal GmbH: LUTZ | ABEL Rechts­an­walts PartG mbB
The consul­ting team around Jan-Phil­lip Kunz, LL.M. (Lead, VC / M&A, Munich) consis­ted of Dr. Corne­lius Renner (IT Law and Data Protec­tion, Berlin), Ute Schenn (Corpo­rate Law, Stutt­gart) and Caro­lin Lang, LL.M. (VC / M&A, Munich) together.

Advi­sor Myra Secu­rity GmbH: Baker Tilly (Daniel Laws)

TVM Capital Life Science closes new fund with USD 478 million

Munich — Inter­na­tio­nal law firm Clif­ford Chance has advi­sed venture capi­tal inves­tor TVM Capi­tal Life Science on the signi­fi­cantly over­sub­scri­bed closing of its TVM Life Science Inno­va­tion II fund. At $478 million, the fund repres­ents the company’s largest fund to date.

TVM, a leading life science venture capi­tal firm in North America and Europe, provi­des venture capi­tal to inter­na­tio­nal biophar­maceu­ti­cal, medi­cal device and diagnostic compa­nies in North America and Europe. The Company invests in compa­nies that offer a visi­ble and attrac­tive exit stra­tegy from the outset, with the aim of maxi­mi­zing returns and genera­ting signi­fi­cant liqui­dity for inves­tors at an early stage.

With support from top-tier domestic and inter­na­tio­nal inves­tors, inclu­ding Eli Lilly, other stra­te­gic inves­tors, pension funds, endow­ments, funds of funds, asset mana­gers and leading U.S. banks, as well as family offices from North and South America, Europe and South Korea, TVM closed its fund at a total of $478 million.

TVM was foun­ded in 1983 and is inter­na­tio­nally posi­tio­ned with offices in Luxem­bourg and Canada as well as consul­ting offices in Germany and other locations.

Advi­sor TVM: Clif­ford Chance
The inter­na­tio­nal Clif­ford Chance team for TVM was led by part­ner Sonya Pauls (Corporate/Private Equity, Munich).

About Clif­ford Chance
Clif­ford Chance, one of the world’s leading law firms, is present for its clients with around 3,400 legal advi­sors in all major busi­ness centers around the world.
In Germany, Clif­ford Chance is repre­sen­ted by around 300 lawy­ers, audi­tors, tax advi­sors and soli­ci­tors in Düssel­dorf, Frank­furt am Main and Munich.

everstox receives funding from Capnamic Ventures and Global Founders Capital

Berlin — In addi­tion to its exis­ting inves­tor Flash Ventures, ever­s­tox has gained two further renow­ned back­ers for the expan­sion of its digi­tal logistics plat­form. The fresh capi­tal comes from Global Foun­ders Capi­tal (GFC) and Capna­mic Ventures. The company says it plans to use the success­fully comple­ted growth finan­cing to further grow its team, deve­lop its tech plat­form and expand its network of inde­pen­dent wareh­ouse logistics provi­ders. SMP advi­sed Munich-based tech startup ever­s­tox on its growth financing.

“The global logistics market is beco­m­ing incre­a­singly complex and often inef­fi­ci­ent as a result. With its self-deve­lo­ped cloud tech­no­logy, inclu­ding the asso­cia­ted smart features, ever­s­tox is setting a new stan­dard for future-proof and sustainable logistics. We are very plea­sed to have been able to accom­pany ever­s­tox as advi­sors during the entry of further inves­tors,” says Frede­rik Gärtner.

About ever­s­tox
The success­ful Munich-based start-up ever­s­tox is the deve­lo­per and opera­tor of the tech­no­logy plat­form of the same name, which offers scala­ble and data-driven wareh­ouse logistics and fulfill­ment for e‑commerce, B2B and retail through a network of Euro­pean logistics service provi­ders. The company is succes­si­vely buil­ding the first tech­no­logy-driven and inde­pen­dent network of renow­ned wareh­ouse logistics and fulfill­ment part­ners, enab­ling trans­pa­rent, effi­ci­ent and ecolo­gi­cally valu­able logistics solu­ti­ons across Europe. With everstox’s team of experts, retailers bene­fit from opti­mi­zed proces­ses, in-depth market know­ledge and stra­te­gic consul­ting. For dealers, this means a clear compe­ti­tive advan­tage in sales. The company is mana­ged by its three foun­ders Boris Bösch, Felix Haber­land and Johan­nes Tress. For more infor­ma­tion about ever­s­tox and the Logistics-as-a-Service solu­tion, visit www.everstox.com.

About Capna­mic Ventures
Capna­mic Ventures, based in Colo­gne and Berlin, is one of Europe’s leading early-stage venture capi­tal inves­tors. The VC’s invest­ment focus is on tech­no­logy star­tups with B2B busi­ness models in German-spea­king coun­tries. In addi­tion, Capna­mic invests with inter­na­tio­nal co-inves­tors. All port­fo­lio compa­nies are suppor­ted by Capnamic’s global indus­try and expert network and the team’s exten­sive exper­tise. The Capna­mic team consists of expe­ri­en­ced invest­ment profes­sio­nals who can look back on more than 80 invest­ments, nume­rous trade sales and IPOs as well as their own entre­pre­neu­rial expe­ri­ence. They work side by side with the port­fo­lio compa­nies to lay the foun­da­tion for their strong market posi­tion and lasting success. Capna­mic is led by Jörg Binnen­brü­cker, Olaf Jacobi and Chris­tian Siegele as Mana­ging Part­ners. www.capnamic.com

About Global Foun­ders Capital
Entre­pre­neurs create incredi­ble oppor­tu­nities — we are their biggest suppor­ters because we have built and support multi-billion dollar tech­no­logy compa­nies at all stages of growth. Over the past two deca­des, we have made over 500 invest­ments world­wide. Face­book, LinkedIn, Slack, Event­brite, Canva, Away Travel, HomeA­way, Zalando, Revo­lut, Funding Circle, Lazada, Trave­loka, Triv­ago, Jumia, HelloFresh and Deli­very Hero are some of our port­fo­lio compa­nies. Global Foun­ders Capi­tal invests around the world. www.globalfounderscapital.com

About Flash Ventures
Flash Ventures is a pre-seed fund in Berlin and London that provi­des initial funding to young compa­nies to help them realize their growth ambi­ti­ons. The port­fo­lio inclu­des invest­ments in Germany, Spain, Austra­lia, Sing­a­pore and Indo­ne­sia. For more infor­ma­tion about Flash Ventures, visit www.fl4sh.vc.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners have been reco­gni­zed natio­nally and inter­na­tio­nally by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant ever­s­tox: SMP
Dr. Frede­rik Gärt­ner (Corpo­rate), Asso­cia­ted Partner
Dr. Benja­min Ullrich (Corpo­rate), Partner
Pia Meven (Corpo­rate), Associate

Bitkraft closes its first fund at 165-million USD

Berlin — German-Ameri­can venture capi­ta­list Bitkraft has laun­ched its first venture fund. With USD 165 million, the capi­tal raised by the fund, which is focu­sed on finan­cing start-ups in the gaming and e‑sports sector, signi­fi­cantly excee­ded the total volume targe­ted. Inves­tors include the family office of David Ruben­stein, co-foun­der of the Carlyle Group, and JS Capi­tal, an invest­ment firm run by Jona­than Soros. Toge­ther with the renow­ned US law firm Gunder­son Dett­mer, an SMP team led by Helder Schnitt­ker struc­tu­red Bitkraft Venture Fund I and advi­sed on tax and regu­la­tory issues.

“We are a good step closer to our goal of buil­ding the leading global invest­ment plat­form in the games and e‑sports indus­try,” explains Bitcraft foun­der Jens Hilgers.

Bitkraft Ventures
Bitkraft Ventures is a global invest­ment plat­form for gaming, e‑sports and inter­ac­tive media. Foun­ded by e‑sports vete­ran Jens Hilgers, Bitkraft connects inno­va­tive star­tups and foun­ders into a global network to drive the buil­ding of future-proof virtual worlds. The inter­na­tio­nally posi­tio­ned Bitkraft team adds signi­fi­cant value to its port­fo­lio compa­nies by buil­ding early partnerships.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners have been reco­gni­zed natio­nally and inter­na­tio­nally by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Cologne.

Consul­tant Bitkraft: SMP
Dr. Helder Schnitt­ker (Lead Part­ner, Fund Struc­tu­ring), Partner
Dr. Thomas Töben (Taxes), Partner
Lenn­art Lorenz (Regu­la­tory Law), Partner
Dr. Sebas­tian Schwarz (Taxes), Senior Associate

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