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13 April 2018

UVC Partners launches $100m fund

The firm, an affiliate of TUM’s tech transfer arm, has attracted investors including KfW and the European Investment Fund for its second vehicle.

Author: Thierry Heles, editor

Unternehmertum Venture Capital (UVC) Partners, the early-stage venture firm affiliated with Technical University of Munich’s tech transfer arm, Unternehmertum, yesterday launched its second fund with more than €82m ($100m) in capital.

Limited partners include the European Investment Fund, the EU’s agency responsible for financing small and medium-sized enterprises, and German government-owned development bank KfW.

The fund’s backers also feature unnamed corporates and other institutional investors, as well as family offices and private investors.

UVC Partners has a close relationship with Untehmertum, though it acts independently. Unternehmertum recently also entered a $1.2m partnership with internet company Google in February 2018 to drive research and innovation in artificial intelligence, machine learning and robotics.

The second fund achieved a first close last year and has already made five investments since then, including Vimcar, which is developing connected car technology for fleets, Shyftplan, which is working on workforce management software, and Lidar sensors developer Blickfeld.

The other two portfolio companies are additive manufacturing company 3YourMind and electric bicycle system maker Fazua.

The fund will seek to lead both seed and series A rounds, investing between €500,000 and €3m in early-stage business-to-business companies and providing up to €12m in follow-on funding.

Ingo Potthof, managing partner of the fund, said: “We are very pleased at the trust placed in us by our fund investors. The fact that the fund was in strong demand, and is oversubscribed as a result, can be regarded as a confirmation of our investment strategy so far.”

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