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German group Triangle Venture Capital holds first close on E15m

German group Triangle Venture Capital has announced a first closing on its fourth fund with E15m. The fund was launched in November last year and is backed by European-based institutional and high net worth individuals.

Triangle Fund IV is targeting between E50m and E75m. The fund will invest between E500,000 and E5m in seed and early-stage companies in Germany in the information technology, telecommunications and medical device sectors.

'We are all very proud that we have been able to achieve our targets for first closing in a challenging environment,' said Uli Fricke, managing general partner of Triangle.

'We remain strongly committed to the ICT and medical devices sectors. We believe that investing in these sectors will continue to be very profitable for investors who have long-term experience in the industry, a deep understanding of the technology, patience and a clear commitment to creating value for share-holders. As one of very few remaining investors in this segment, Triangle is well positioned to meet these targets.'

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