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Wachstumsfonds Bayern

You are a successful entrepreneur looking for more! You are eager to grow, striving to advance your innovative solutions even further. We share your enthusiasm for making novel ideas come true for the challenges of our time. Because even after initial successes, innovation-driven high-tech companies are dependent on financially strong partners who accompany the chosen path with further capital, great dedication and a valuable wealth of experience. Only then can you take the right steps to achieve the goals you deserve in the long term: to become a sustainable technology leader both nationally and internationally, making our business location Germany – and Bavaria in particular – even better.

Take advantage of our experience as a partner for success: over the course of the past 25 years, we have supported more than 300 Bavarian tech start-ups and growth companies in closing small and major financing rounds on their path to the next company level with great commitment. We can do that for you too.

Make use of our expertise gained from more than 25 years of venture capital experience, which is available to you whenever you need it. Yet Bayern Kapital offers so much more: a valuable network of multipliers and accelerators in Bavaria and beyond, allowing us to offer a suitable specialist as support for any business situation. Especially during the growth phase, companies are facing challenges which absolutely require cooperation with one or more experienced industry experts, entrepreneurs or business angels.

Does this appeal to you and your business venture? We bring you in touch with the right people for your continued success.

Who is being financed?

Our driving force: advancing tomorrow’s technologies today. With the Bavarian Growth Fund, we invest in your budding high-tech company with an innovative business model and an internationally scalable growth strategy. Every venture starts small. With the support of our Bavarian Growth Fund, you and your highly motivated and high-performing co-founders can build up your technology start-up solidly  – no matter which high-tech sector your innovation is intended to revolutionise:

Our minimum requirements for the contents of your business concept

  • A motivated and experienced management team with complementary skills available in the company and/or management completion planned in the course of the financing round.
  • Technology with sustainable USPs and competitive advantages
  • Business concept with sustainable potential for revenue: stable growth over a longer period of time is more important to us than unrealistically high growth rates within the shortest period of time.
  • Growth market with significant market volume
  • Sustainable, scalable business model
  • Existing exit scenario

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).

What will be financed?

Financing will be provided for expenses and investments that can be attributed to the “innovation project” described in the business concept and that are intended to be carried out by the company with the equity capital provided by the Bavarian Growth Fund.

These are, in particular, personnel expenses, material expenses/external services, costs for marketing and sales, and expenses for the registration and preservation of property rights.

This is what you can use our capital for:

  • (Further) development of new products/processes (including technical services) to expand the product and service portfolio of the affiliated company, including their market launch or in the life science sector: the conduct of clinical trials (to achieve exit/licensing-out capability or as a basis for the subsequent market entry phase incl. sustainable revenue generation).
  • Expansion of sales and implementation of internationalisation strategies.
  • Financing of further innovative product diversification or expansion of market shares including acquisitions/implementation of exit strategies.

How does the financing work?

Like any investor in start-ups, we want to get a clear picture of you, your team, and your business concept before we invest. The investment decision is made after careful review of your application by our interdisciplinary venture capital and industry experts. Thanks to our proven processes and seasoned teams, we can guarantee the necessary start-up speed both here and also during the investment/participation period.

The roadmap to your financing

  1. You or your private investor send us your informative business plan.
  2. You will receive initial feedback within the next ten working days.
  3. In case of a positive decision, you now submit the formal investment/participation application.
  4. Due Diligence: we analyse and check your company for its economic, legal, tax and financial circumstances. In this context, the following aspects are of primary interest:
    • Degree of technological innovation
    • Protection of the technology under patent law
    • Market opportunities
    • Financial planning
    • Reasonableness as well as plausibility of the corporate and financial planning
    • Management
  5. Subsequently, we decide on the investment, in consultation with our investment advisory board. After approval, we can sign the investment/participation contract. The contract terms typical of venture capital agreements are defined between you, your company and, where applicable, additional investors.

You can then start with the implementation of the innovation project. Until the exiting, we accompany your company by means of continuous monitoring and ongoing support.

What are the financing conditions?

In the vast majority of cases, we invest in cooperation with private investors. Participation in our Bavarian Growth Fund is primarily in the form of an open-ended investment; depending on the individual case, also in combination with a subordinated loan.

The Bavarian Growth Fund will declare in advance a subordination on the loan and interest claims.

Additional details regarding the financing conditions

Investment/participation amount: a total of up to EUR 10 million, spread over several financing rounds. An equity investment is, on principle, made available in tranches, corresponding to the progress of the innovation project.

Shareholdings of another co-financing fund managed by Bayern Kapital are counted towards the maximum equity investment amount of EUR 10 million. An equity investment is, on principle, made available in tranches, corresponding to the progress of the innovation project.

Term: We anticipate a holding period of around 7 years, but can also allow for a longer period in order to leverage as much of your company’s potential as possible before exiting. In the case of a typical silent shareholding, a maximum term until 31.12.2029 is currently possible.

Assessment: Primarily the subject of your negotiations with the private investors; we review the outcome based on our market knowledge/experience.

Remuneration in case of silent participating interest: Fixed, results-independent basic remuneration and ongoing profit-related remuneration component as well as an equitable exit payment at the end of the participation period. For the initial pay-out, a one-off of 1% of the participation sum.

Do you want to grow even further? We gladly accompany financing rounds following the growth phase with the Bavarian ScaleUp Fund. We support established technology companies that are planning larger financing rounds for international expansion and scaling with the Bavarian ScaleUp Fund with EUR 10 to 25 million.