TechnoStart to close 3rd fund

TechnoStart, the German early stage enabling technology investor, is due to close its

third fund on September 30 at some E50 million to E60 million. The fund is called Zweite TechnoStart Ventures and will be double that of its previous fund, TechnoStart Ventures, which closed at E27.7 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.