EIF intensifies its support to venture capital in Germany

 

EIF announces a cornerstone investment in Dritte SHS Technologie GmbH & Co. KG Fund, a German venture capital fund located in Tübingen and focussing on life science early stage investments.

 

First closing was completed at EUR 40m.  The fund will focus on life science related sectors such as medical technology, diagnostics, drug development and production technology for medical technology diagnostics and drug delivery.  The fund will mainly target German early stage companies with first market proof or first clinical successes for medical devices.  Matthias Ummenhofer, Deputy Head Equity Fund Investments, commented “we are pleased that the ERP-EIF Dachfonds has, through its cornerstone investment, supported the establishment of Dritte SHS Technologie at a time when the current environment offers interesting opportunities to invest at low entry valuations into high potential life science related companies in Germany. The SHS team is with its experience and focussed investment approach very well placed to exploit these opportunities.”

 

This investment was made under the ERP-EIF Dachfonds and the European Commission Competitiveness and Innovation Framework Programme (CIP-GIF1). GIF1 aims to help SMEs (small and medium-sized enterprises) with their establishment or early stages of development.

 

The ERP-EIF Dachfonds is managed by EIF on behalf of the German Federal Ministry of Economics and Technology (BMWi) and European Recovery Programme and invests in VC funds focusing on mainly, but not exclusively, German-based high-tech early stage companies. EUR 245m were committed in 10 funds, which in turn helped raise another EUR 1.2bn from private investors, highlighting EIF's leveraging effect on the market.