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BVK claims record year

Germany’s venture capital association, Bundesverband Deutscher (BVK), says preliminary surveying shows continued growth with its 168 members having raised investment volume to DM18.9 billion by year-end 2000 up from DM13.9 billion at the previous year-end.

There was DM7.5 billion of new investments compared to last year’s figures of DM5.5 billion. New investments came from 1844 firms (1,369 last year) and 2,504 funds (1,891 last year).

Firms investing primarily in early stage companies invested a total of DM3.5 million in 894 enterprises, which is up from DM1.8 billion in 560 enterprises in the previous year.

Albrecht Hertz-Eichenrode, chairman of the board of the BVK, said: “I expect a relatively short consolidation phase. In Germany an equity investing’ climate has been created that cannot be reversed. The founding activities will continue; the interest in high tech industries is unfaltering. The potential for venture investing, as well as capital sources for venture capital opportunities, are continuing to increase. Going beyond that, we feel that the Tax Reform of 2002 will bestow wings upon us.”