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Our Funds

seedfondsSeedfonds Bayern

You are at the beginning of the product development. Your company is not older than 12 months and your goal is to successfully complete the seed phase with the Proof of Technics. Private investors are not available or at a maximum of € 200 thousand.

The Seedfonds Bayern provides young Bavarian companies equity capital to finance the development of the company. Project content is always an innovative and technology-oriented product or service. After the start-up-financed seed phase, addditional capital providers, e.g. B. business angels or venture capital companies are financing further development and ultimately successful market entry.

Financing what?

The seed fund Bayern managed by Bayern Kapital finances newly founded high-tech companies / startups implementing an innovative idea or invention.

The minimum content requirements for the corporate concept are:

  • Motivated, experienced and complementary team of founders available or foreseeable
  • Technology with sustainable unique selling points or competitive advantages
  • Products or technical services must represent an essential solution for the customer
  • Growth market with significant market volume
  • Sustainable, scalable business model
  • After completing the early phase, the requirements for raising additional equity capital are given
  • Depending on the business model, the “proof-of-concept” or a first prototype or first customer sales must be achieved with seed financing
  • Exit scenario exists

Formal criteria

  • Fulfillment of the EU criteria for micro and small companies
  • Overall financing of the early phase project secured
  • The commencement of business activities may be no more than two years ago at the time of application
  • More than 50% of the company’s shares are owned by the know-how providers before financing
  • Integration of know-how carriers in the management
  • Legal form of a German corporation
  • Company headquarters or permanent establishment in Bavaria
  • Fulfillment of the EU criteria for micro and small businesses:
    • Company has no more than 50 employees
    • Annual sales or annual balance sheet total of up to EUR 10 million
    • Other companies own less than 25% of the share capital or the above criteria are also met when these other companies are included
  • Fulfillment of the EU criteria for aid for start-ups according to Article 22 of Commission Regulation (EU) No. 651/2014 of June 17, 2014.

Investment Conditions

Fundamentally, financing together with the High-Tech Gründerfonds, private investors and the Seedfonds Bayern is aimed to achieve the capital volume that is mostly required for innovative seed projects.

In individual cases, sole funding from the Seedfonds Bayern is possible, e.g. if significant financial contributions for the seed project can result from early sales.

  • Amount of participation: The participation is max. EUR 750.000, of which max. EUR 500.000 in the first round of financing.
  • Type of participation: As a rule, typically silent participation.
  • Term: With a typically silent participation, a term up to max. 31.12.2030 possible.
  • Conversion right: For another financing round, there is a conversion right into an open participation, which is based on the evaluation of this first follow-up financing round.
  • Deductibles: The founding partners do not have to assume any personal liability. However, the founders are expected to make a personal financial contribution of at least EUR 25.000 in share capital.

clusterfond_001Seedfonds Bayern extended

Your product has passed the Proof of Technics. Your company is at the end of the seed phase and has not been on the market for longer than 24 months. Your goal is to enter the start-up phase in order to achieve the “proof of market” with your technology.

The Seedfonds Bayern extended provides Bavarian technology companies with up to EUR 500.000 in equity capital in the transition phase from 9 to 12 months to bridge the gap between the seed phase and the start-up phase, if no private investors are ready to start.

In a subsequent financing round, participations from other investors (in particular venture capital companies, business angels) are to be acquired.

Financing what?

High-tech companies that are still in the seed phase can be financed. The target group also includes young technology companies, which are adequately financed with the participation of Seedfonds Bayern.

The minimum content requirements for the corporate concept are:

  • Motivated, efficient team of founders
  • “Proof of technics” shown
  • Technology with sustainable unique selling points or competitive advantages
  • Product that represents an actual problem solving essential for the customer
  • Growth market with significant market volume
  • Sustainable, scalable business modelAfter completion of the project, the requirements for raising additional equity capital are reached or the company is sufficiently funded as a whole with the participation of Seedfonds Bayern
  • Exit scenario exists

Formal criteria

  • Company according to Article 22 of Commission Regulation (EU) No 651/2014 of 17 June 2014 headquarters or major business premises in Bavaria
  • Legal form of a German corporation
  • Integration of know-how carriers in the management
  • More than 50% of the company’s shares are owned by the know-how carriers before the financing is concluded
  • The commencement of business activities was at least one year ago at the time of application; however, the company is active for a maximum of 24 months
  • Overall financing of the project secured
  • Fulfillment of the EU criteria for micro and small businesses:
    • Company has no more than 50 employees
    • Annual sales or annual balance sheet total of up to EUR 10 million
    • Other companies own less than 25% of the share capital or the above criteria are also met when these other companies are included
  • Fulfillment of the EU criteria for aid for start-ups according to Article 22 of Commission Regulation (EU) No. 651/2014 of June 17, 2014.

Financing Conditions

The participation of the Seedfonds Bayern Extended takes place primarily in the form of an open participation in combination with a subordinated loan. After acquiring the shares as part of a capital increase, Seedfonds Bayern Extended holds a 10% stake in the company. The Seedfonds Bayern Extended declares a subordination in advance to the loan and interest claims.

  • Amount of participation: The Seedfonds Bayern participates in the first financing round of up to EUR 500.000 in the company; a total of max. EUR 750,000 possible.
  • Term: The term of the subordinated loans is seven years. The payment is linked to the achievement of milestones. With a typically silent participation, a term of up to max. 31.12.2030 is possible.
  • Participation fee: The interest on the subordinated loan is 10% p. a. An interest deferral for the first two years is possible.
  • Conversion right: In further financing rounds, the subordinated loan or – depending on the situation in the individual case – the silent participation and the accrued interest / charges have a conversion right into an open participation to evaluate the respective financing round.
  • Own contribution / sideinvestment: The founding shareholders do not have to assume any personal liability.

As an alternative to this, the open participation in the company valuation of other equity investors can be concluded.

Silent participations with subordinate agreements are also possible.

Business support

The Seedfonds Bayern and the Seedfonds Bayern Extended recommend working with an experienced expert. This early collaboration with an experienced expert is important to us so that the often very dynamic company development is accompanied and supported. For this, the expert receives individually agreed remuneration within a planned overall framework, which the company also pays from the funds invested by the Seedfonds Bayern.

The tasks of the expert include the following points

  • Initial advice for interested founders from the high-tech environment on the Seedfonds Bayern or High-Tech Gründerfonds
  • Comprehensive support in the implementation of the early phase project
  • Technical and business advice / support and controlling of project implementation
  • Provision of its contact network, in particular in relation to venture capital
  • Active support in the transition to the follow-up financing
  • Briefing the Seedfonds Bayern about the economic situation of the participant / plausibility check of the company reports

innovtionfond_001Bayern Kapital Innovationsfonds

Your company wants to develop a new product and / or production process or to finance the market launch and penetration.

In cooperation with a private, independent investor, the Bayern Kapital Innovationsfonds provides young Bavarian technology companies with equity capital to co-finance innovation projects from the start of the company in various phases of the company.

This is intended to secure necessary investments and the financing of operating resources for young companies.

Financing what?

The Bayern Kapital Innovationsfonds primarily funds young, innovative technology companies that want to use the equity capital to implement the development of new products and / or production processes and their market launch or penetration.

The minimum content requirements for the company and the company concept are:

  • Motivated and experienced management team with complementary competencies available in the company or planned to complete the management
  • Technology with sustainable unique selling propositions, which – insofar as possible – is protected by property rights and has significant competitive advantages
  • Products or technical services represent an actual problem solving essential for (potential) customers
  • Growth market with significant market volume
  • Realistic business idea: Ideally, there is already a prototype and pilot customer for the business concept before venture capital is
  • Sustainable, scalable business model
  • Business concept with sustainable sales potential: Steadily increasing growth over a longer period is more important to us than unrealistically high growth rates in the shortest possible time
  • Exit scenario exists

Formal criteria

  • A private investor chosen by the company participates with equity parallel and cooperates with the Bayern Kapital Innovationsfonds
  • Company headquarters or permanent establishment in Bavaria; the major part of the innovation project to be financed is carried out by the company itself
  • Legal form of a corporation
  • Integration of the essential know-how carriers in the company management, the know-how carriers should also hold significant shares in the company
  • Industrial property rights (patents, trademark rights etc.) must be transferred to the company
  • The overall financing of the company including the equity capital of the Bayern Kapital Innovation is comprehensibly secured for a period of 18 – 24 months
  • Fulfillment of the EU criteria for small and medium-sized enterprises (SMEs)

Financing Conditions

  • Amount of participation: In total up to 2,5 million euros, usually spread over several financing rounds. Participations of another co-financing fund managed by Bayern Kapital are counted towards the maximum participation amount of EUR 2,5 million.
    A participation is usually paid in several tranches after the agreed milestones have been fulfilled.
  • Type of participation: Open and / or typically silent participation. In the case of an open participation, the Bayern Kapital Innovation participates based on the same company valuation as your private investor. A combination of open participation and subordinated loans is also possible.
  • Based on your business model and the business valuation of your private investor, the participation model is coordinated with you and your private investor, as well as with other investors, if applicable.
  • Duration of participation: In principle, the duration of the participation of the Bayern Kapital Innovation depends on the duration of the participation of your private investor. With a typically silent participation, a term of up to max. 31.12.2030 possible.

Independent private investor

The Bayern Kapital Innovationsfonds only participates in cooperation with one or more independent private investors selected by the participant , at market conditions (“pari passu”).

The independent private investor (hereinafter private investor) must fundamentally participate in the participant in at least the same amount as the Bayern Kapital Innovationsfonds. For financing with business angels and – depending on the situation in the individual case – projects in the life science sector, smaller financing shares of the private investor, but at least 30%, are required.

The private investor should provide technical and commercial support to the participant and regularly inform the Bayern Kapital Innovationsfonds about the economic situation of the participant and the innovation project. A contract between the private investor (s) and the Bayern Kapital Innovationsfonds can regulate the details.

The role of private investor can be taken over by investment / venture capital companies, but also by business angels, or in individual cases, as long as the economic independence and financial independence of the investment company are preserved, also by other companies (e.g. strategic partners).

If another fund managed by Bayern Kapital GmbH has already invested together with the private investor, the Bayern Kapital Innovationsfonds can participate in cooperation with this private investor.

wachstumsfond_001Wachstumsfonds Bayern

In cooperation with one or more independent private investors Wachstumsfonds Bayern managed by Bayern Kapital provides technology-oriented young, small and medium-sized enterprises in Bavaria as co-investment partner with equity capital for growth financing (Later Stage Venture Capital). This enables innovative Bavarian start-ups to receive more and larger funding. This enables them to take further growth steps, such as entering new sales markets. The fund volume of Wachstumsfonds Bayern amounts to EUR 115 million.

Wachstumsfonds Bayern is fundamentally open to innovative, technology and growth-oriented companies in all industries; regardless of whether external investors are already involved. A general requirement for participation by Wachstumsfonds Bayern is that the technology company has a successful business model, has successfully completed the seed phase and the first startup phase and wants to expand. The successfully completed seed and first startup phase may have been financed by external investors or by the founder / cash flow.

The financing contribution per technology company is between 2 and 8 million euros (also in several financing rounds); in some cases up to 10 Mio. € are possible. The participant selects the private investor. The private investor must participate in the company at least in the same amount as the Wachstumsfonds Bayern

Financing what?

Wachstumsfonds Bayern primarily funds young, innovative technology companies who want to use the venture capital to implement further growth steps (technical / market expansion).
Minimum content requirements are:

  • Motivated and experienced management team with complementary competencies available in the company or planned to complete the management in the course of the financing round.
  • Technology with sustainable unique selling propositions, which – insofar as possible – is protected by property rights and has clear competitive advantages.
  • Growth market with significant market volume.
  • Sustainable, scalable business model.
  • Business concept with sustainable sales potential: Steadily increasing growth over a longer period is more important to us than unrealistically high growth rates in the shortest possible time.
  • Exit scenario exists.

Formal criteria

  • A private investor selected by the company participates with equity parallel to the Bavarian growth fund and cooperates with the Bavarian growth fund; the private investor participates at least in the same amount as Wachstumsfonds Bayern.
  • Company headquarters or permanent establishment in Bavaria; The major part of the innovation project to be financed is carried out by the company itself.
  • Legal form of a corporation with its registered office or permanent establishment in Bavaria.
  • Integration of the essential know-how bearers in the company management, the know-how bearers should also be incentivized by shares in the company.
  • Industrial property rights (patents, trademark rights, etc.) must be transferred to the company.
  • The total financing of the company including the equity capital of Wachstumsfonds Bayern is comprehensibly secured for a period of 18 – 24 months.
  • Fulfillment of the European Union’s SME criteria.
  • Seed and first start-up phase successfully completed (financed by external investors or own funds / cash flow).

Financing Conditions

  • Amount of participation: A total of up to EUR 8/10 million, spread over several financing rounds. Investments made by another co-financing fund managed by Bayern Kapital are counted towards the maximum investment amount of EUR 8/10 million. Participation is generally provided in tranches in accordance with the progress of the innovation project.
  • Type of participation: Open and / or typically silent participation on the same terms as the private investor. Based on your business model and the business valuation of your private investor, the participation model is agreed with you and the private investor and, if applicable, with the other investors.
  • Duration of participation: Basically, the term of the participation of the of Wachstumsfonds Bayern depends on the term of the participation of the private investor.With a typically silent participation, a term of up to max. 31.12.2030 possible.
  • Participation fee for silent participation: In the case of a typical silent participation, in addition to a one-off remuneration, which is retained when a first tranche of participation is paid out, a fixed, earnings-independent basic remuneration, profit sharing and an appropriate exit fee are agreed.

 

 

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