bmp AG Will Manage €20M Early Stage Fund in Brandenburg

bmp AG (ISIN DE0003304200), which has won a public Europe-wide tender, will manage a €20m early-stage fund in Brandenburg (Germany) commissioned by the Ministry of Economics to InvestitionsBank des Landes Brandenburg (ILB).
In order to set up the fund, ILB established BFB Frühphasensfonds Brandenburg GmbH (Frühphasensfonds) as a wholly-owned subsidiary.
75% of the resources will be provided by the European Regional Development Fund (ERDF), and 25% from budget funds of the State of Brandenburg.
The new vehicle will invest up to €1m in young, innovative and small companies based in or with facilities in Brandenburg. The investments will be made in conjunction with subordinated loans and the involvement of private investors such as business angels is desirable.
bmp also has recruited Lars Michalak, who previously worked for many years as an investment manager at IBB Beteiligungsgesellschaft in Berlin, as a partner in its management of the fund. He will head the Potsdam office.

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