PRINT THIS PAGE German firm CFH raises €60m venture capital fund for Saxony30/04/2008. Source: AltAssets. 
Leipzig, Germany-based private equity firm CFH has held a first closing on its new technology venture capital fund, Technologiegründerfonds Sachsen (TGFS), on €60m, the target size of the fund. The fund has a hard cap of €75m. TGFS is a joint initiative of CFH, three large regional savings banks (Sparkassen) in the Saxon cities of Chemnitz, Dresden and Leipzig, and the Bundesland Saxony. It is supported by the European Regional Development Fund. The Bundesland Saxony committed €45m to the fund.
The €60m fund consists of a €20m sub-fund focused on seed stage investments and a €40m sub-vehicle focused on start-ups.
Investments will typically range from €500,000 for seed stage deals to up to €4m for start-ups. The geographic focus of the fund is Saxony.
CFH, founded in 1996, currently has €250m in capital under management. The firm focuses on private equity and mezzanine investments, and also has a fund of funds arm.
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