IBG makes bet on $53m fund

Saxony-Anhalt-owned VC firm IBG Beteiligungsgesellschaft Sachsen-Anhalt, has announced a $53m fourth fund backed by state money.

IBG Beteiligungsgesellschaft Sachsen-Anhalt, the venture capital firm wholly owned by the German state of Saxony-Anhalt, has launched a €50m ($53m) fund called RKF III.

Financed by government funds representing Saxony-Anhalt and the European Union, the fund will invest in technology companies from the region at seed, startup and growth stages.

RKF III will offer companies risk capital through equity or silent investments of up to €10m over numerous rounds. Germany-based VC firm BMP Beteiligungsmanagement is managing the fund.

While the fund will focus primarily on technology startups, experienced small and medium-sized enterprises that can demonstrate innovative products or processes will also be considered.

RKF III is IBG’s fourth fund and is the direct successor to IBG Risikokapitalfonds II, which was launched in 2009 and which has a fund volume of €104m.

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