Saxony, Germany-based startup investment program Technologiegründerfonds Sachsen (TGFS) raised an additional €64.4m.
The new funds will be used to invest in tech startups based in and with a presence in Saxony.
Launched in 2008, the investment program has supported 41 companies successfully exiting 7 of them.
Led by Sören Schuster, CEO, TGFS provides startups with capital to move ideas to market and access to the network of experienced TGFS managers. The firm now aims to back up to 45 more companies investing from €100k to €5m euros for each startup.
Investment areas of interest include ICT, semiconductor microsystems, medical technology, environmental and energy technology and new media.