German venture capital firm, IMH Industrie Management Holding has achieved a first close on its third fund at E64 million and is well on its way to reaching its target of E150 million. IMH Venture Capital Berlin has attracted five institutional investors so far including the European Investment Fund, Gerling Konzern, Hamburg Mannheimer Versicherungs and tbg.
The new fund will focus on technology investments and in particular on T.I.M.E.S, Life Sciences and other scientific spin-offs within the EU. It will provide pre-IPO financing, but will also consider providing suitable companies with early stage capital.
IMH also has plans to open further offices in Europe, as well as enhancing its network of partnerships to drive its expansion process. Managing partner, Florain Volk said: “In Denmark we have already reached concrete agreements with a partner that has longstanding experience in the VC business. Their expertise and networks open up great opportunities to invest in very interesting companies in the technology sector across Europe.”
IMH is based in Berlin and has subsidiaries in Hannover, Nurnberg and Milan. The firm’s previous two funds raised a total of E83 million from institutional investors and to date have invested E81 million in 44 portfolio companies.