btov closes first EUR 80m Euros for new Industrial Technologies Fund
Closing for one of the largest European early-stage funds for deep-tech start-ups in the industrial environment
St. Gallen/Munich 13. January 2019 – Venture capital company btov announces the second closing of its new btov Industrial Technologies Fund, one of the largest early stage funds with a full focus on European Deep-Tech start-ups with industrial use cases. These 80m Euros have been raised from the btov private investor network, which includes many successful entrepreneurs and executives from industry, from strategic investors, family offices, foundations, a number of banks, the EIF – and the management team itself. The fund will invest in European start-ups that develop innovative software and hardware for industrial applications. Conversations with additional investors are already underway to further increase the fund volume over the coming months.
The top-class partner team of the Industrial Technologies Fund, consisting of Benedikt Kronberger, Dr. Christian Reitberger, Dr. Christian Schütz, and Robert Gallenberger, offers to investors and founders excellent know-how and combines more than 50 years of investment experience in the European High-Tech sector with strong financial returns. Their complementary academic backgrounds cover engineering and science as well as business administration. Professional experiences range from automotive production, management consulting, M&A advisory to founding & managing businesses. The four partners have personal connections to many leading European technology centers and research institutions and have invested in spinouts out of CERN, TU Eindhoven, TU Munich, KU Leuven/imec and many other centers of excellence.
Dr. Christian Schütz says: “We have made more than 50 investments in this area in different roles together and individually in recent years. We know the market, the financing partners and many relevant European large and medium-sized companies in our fields. This consistent investment experience and 100% focus on industrial technologies sets us apart from most other funds in Europe. In addition to that we benefit from a proprietary access to the unique combination of entrepreneurial instinct, sector expertise and management experience within the btov private investor network“.
The fund invests in robotics and autonomous agents, AI for industrial process optimisation, industry 4.0 and IIoT (Industrial Internet of Things), cyberphysical security, electronics and photonics, disruptive and resource-efficient production technologies such as additive manufacturing, power generation and storage, as well as medical and quantum technologies.
Example DyeMansion: The Munich-based start-up, in which the fund invested in August 2018, specializes in the post-processing of 3D-printed polymer parts. Robert Gallenberger, a mechanical engineer by training: “DyeMansion is a prime example of the kind of companies we support. The company develops innovative processes and machines for industrial applications and pursues a pure B2B sales approach. Another decisive factor was the highly ambitious founding team. They have managed to become a global innovation leader in the field of automated post processing, pioneering the transition of 3D printing from pure prototyping to industrial series production”.
Christian Reitberger, with his background in physics, says: “We usually invest EUR 1-3mio as lead or co-lead investor in Seed, Series A, possibly also Series B rounds and reserve significant further capital for subsequent rounds; we like to understand the underlying IP and favor cross-domain innovations, ie. bringing maturing technologies to new industrial applications – for example the application of new quantum technologies for sensor technology, the use of new computer architectures for hybrid high performance computing, generative algorithms for design automation or photonic integration for medical technologies.“
Benedikt Kronberger, who has worked in the petrochemical sector before founding his own startup comments: “The German-speaking countries look back on a long industrial tradition. Engineering developments ‘Made in Germany’ shape worldwide progress. Innumerable start-ups with great innovations are now part of it and more are constantly being added. But we also see fantastic innovations, for example in the Benelux countries, France, Scandinavia, Spain and the United Kingdom. At the same time, we maintain close ties with US, Israeli and Chinese players in our areas of interest to keep a truly global view.“
The launch of the new btov Industrial Technologies Fund was supported by LfA Förderbank Bayern, which already played an important role in the first closing at the beginning of 2018. Other public investors are NRW.BANK and the European Investment Fund. The fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. Read more here.