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Hamburger Innovations-Wachstumsfond © www.mediaserver.hamburg.de/Timo Sommer und Lee Maas

"Hamburg Innovation Growth Funds" now ready

Hamburg to back young companies with EUR 100 million - fund managment now in place

The Hamburger Innovations-Wachstumsfonds, which has been approved by the “Bürgerschaft” and supports innovative companies after the start-up phase, will be managed by the Hamburg investment company Neuhaus Partners. Up to EUR 100 million in venture capital are to be raised for the fund with the Hamburgische Investitions- und Förderbank (IFB Hamburg) as anchor investor, contributing public funds of up to EUR 10 million on behalf of Hamburg. At the same time, funds will be secured from more institutional and private investors.

Funds strengthen Hamburg’s start-up ecosystem

The funds will invest in existing start-ups with promising growth prospects and with particular emphasis on digitisation in all sectors relevant to Hamburg. This expands the financing possibilities for start-ups in a crucial phase. The funds will allow them to gain a stronger foothold on the market by developing their innovation or setting up production, sales and marketing. The investments are to be resold after three to eight years.

Frank Horch, Senator for Economics, Transport and Innovation, noted: “The establishment of the Hamburg Innovation Growth Fund is intended to close a financing gap for promising innovative companies in their growth phase and strengthen Hamburg’s venture capital and start-up ecosystem. We are delighted to have found in Neuhaus Partners an experienced Hamburg fund manager who has proven his expertise several times in the past.”
sb/pb

Sources and further information:
www.hamburg.de
www.ifbhh.de
www.neuhauspartners.com

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