High-Tech Gruenderfonds (HTGF), the state-backed fund that counts several Germany-based corporates among its limited partners, has invested in three companies and exited two more.
HTGF and venture capital firm Target Partners invested an undisclosed seven-figure euro amount in Quobyte, a US-based developer of software-defined storage system for Linux servers that has research and development facilities in Berlin.
Medineering, a Munich-based developer of assistive systems for head surgery, has also secured funding from HTGF, which invested alongside Bayern Kapital, Born2Grow and a consortium of business angels. The seed capital will be used to develop and refine Medineering’s product.
In addition, Germany-based hospitality app developer Opentabs, which secured funding from HTGF in February, has picked up further funding from the fund. Opentabs will invest the cash in advancing its technology.
HTGF has exited from Munich-based e-commerce software provider Commercetools, which was acquired for an undisclosed sum by REWE Digital, a subsidiary of retail and tourism company REWE Group. Other investors in the company include Bayern Kapital, BayBG, Astutia Ventures and Klaus Wecken.
The fund has also exited from MinCell, a Weimar-based developer of technology for the production of foam glass, through a share buyback scheme.