PRINT THIS PAGE German BayTech Venture Capital closes €86m fund18/07/2005. Source: AltAssets. 
 Munich, Germany-based early-stage venture capital firm BayTech Venture Capital has closed its second fund, BayTech Venture Capital II, on €86m. The fund will make investments in Western Europe with a primary focus on Germany and France. Its target sectors are technology - communications, software, semiconductors, electronics - and life sciences.
The typical investment size will be between €1m and €3m as initial commitment, and up to €7m over the different development stages of a company.
Large institutional investors, including those international banks and insurance companies that also contributed to BayTech's first fund (raised in 2000), invested in BayTech Venture Capital II. BayTech Venture capital is still in talks with investors who might contribute further capital to the fund. However, for the time being the firm treats the closing as final closing.
BayTech Venture Capital's managing partner Rolf Schneider-Guenther said, 'We appreciate very much the fact, that all investors of the predecessor fund have confirmed their confidence in the firm's investment team and have contributed to BayTech Venture Capital II. This is rare in today's fundraising environment.'
'We feel the combination of local and international investors as limited partners in our fund is an appropriate one and is in line with the geography of our portfolio companies,' Schneider-Guenther added.
Jude S Ngu'Ewodo, partner at BayTech Venture Capital, said, 'Our active work at the board level of our portfolio companies has proven to be significant support for their growth and a key success factor. The positive feedback for this work from syndicate partners and entrepreneurs encourages us to continue our commitment to that strong hands-on approach.'
BayTech Venture Capital, founded in October 2000, focuses on the life sciences, information and communications technologies, semiconductors and optoelectronics sectors and other innovative technologies.
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