NFon becomes HTGF’s first IPO

The German agency was the business’s earliest investor.

Germany’s state-backed investment agency High-Tech Gründerfonds (HTGF) has announced the first initial public offering (IPO) of a portfolio company. NFon, a Munich-based cloud telecoms business, received its first investment from HTGF in 2008 and has raised around €50m ($59m) from its listing.

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