UVC Partners, the Germany-based venture capital firm affiliated with Technical University of Munich (TUM), unveiled its €150m ($178m) third fund on Tuesday backed by limited partners including specialty chemicals producer Lanxess.
The co-founders of mobility services provider Flixbus also invested in the fund, as did undisclosed institutional investors, family offices, corporates and family businesses.
UVC Partners maintains a close relationship with UnternehmerTUM, the centre for innovation and business creation of TUM. They share leadership in Helmut Schönenberger, who is the chief executive of UnternehmerTUM and a managing partner of UVC Partners.
The firm’s approach relies on building partnerships with founding teams to drive sustainable growth, rather than only offering capital or operational support.
The third fund will continue focusing on European seed and series A-stage startups in the industrial technology, business-to-business software and mobility sectors. It will initially invest roughly between $590,000 and $4.7m, up to $17.8m in total per portfolio company.
UVC Partners previously raised a $100m fund in early 2018 backed by the European Investment Fund, development bank KfW and unnamed limited partners.
The original version of this story appeared on our sister site, Global University Venturing.
