TechnoStart to close 3rd fund end Sept

TechnoStart, the German early stage enabling technology investor, is due to close its third fund on September 30 at some euro50 million to euro60 million. The fund is called Zweite TechnoStart Ventures and will be double that of its previous fund, TechnoStart Ventures, which closed at euro27.7 million in December 1998.

Johan Kohlaas at TechnoStart says: “We will keep to early stage investments but may be in certain investments we will carry on until the third round.” In order to copy with the new fund TechnoStart has doubled its investment team this year.

Investors in Zweite TechnoStart Ventures include IEF, TBG, Partners Group, Fere AG, and a number of industrial investors such as Dow Chemicals, and private investors.