Up For Grabs: New €120 M for IBB Venture Capital Fund
The Investitionsbank Berlin (IBB) is the business development bank of Berlin for SMEs, start-ups and founders which has been successfully financing companies for years. It has now been announced that the state of Berlin is continuing its highly successful venture capital funds. Three funds will be able to invest a total of €120 M of fresh money in young companies. This is 25 percent more than in the previous funding period. The Senate has approved the implementation of the Venture Capital (VC) Fund Technology Berlin III (€50 M) and the VC Fund Creative Industries Berlin III (€40 M) as well as the newly launched Impact Fund for Social Entrepreneurs (€30 M). 40% of each of the three funds are financed by the European Regional Development Fund (ERDF) and 60% by the state-owned IBB. “We want to continue these successful VC models with IBB Ventures so that the shortfall of venture capital for early phases does not lead to financing problems for innovative companies,” says Berlin’s Senator for Economic Affairs Stephan Schwarz.
More about raising money in Berlin: reason-why.berlin/capital-in-the-capital