Neuhaus Partners, a Hamburg-based venture group, announced the first closing at Euros 70 million of its new technology fund, specialising in high tech investments in the German-speaking region and Western Europe, surpassing the original goal of Euros 40 million. The final closing is targeted at Euros100 million.
"We are now ready to start investing this fund," said Pablo Fetter, managing partner of Neuhaus Partners. "In previous months we have found several interesting investment opportunities, to the extent that we will shortly announce our newest investments for the Neuhaus III Fund".
Investors in the new fund include management of former portfolio companies, investors in the first and second funds, banks, fund of funds, and private investors. Like its predecessors, the Neuhaus III Fund will continue investing in German and European technology companies, with the investment focus expanded to include the energy sector in addition to IT, Internet, media, software, optical electronics and semiconductors.
Through its first two funds, Neuhaus Partners has invested in 36 companies to date. The latest investment, in November 2006, was in the games company Sofatronic.
Overall, 26 companies have exited and Neuhaus Partners currently holds ten companies in its portfolio. in its portfolio 10 companies.
The third fund will make investments in the Euros 2 to 5 million range, aiming to invest in approximately 25 companies.
Neuhaus Partners GmbH, was founded in 1997 by Gottfried Neuhaus and is one of the leading, independent venture capital groups in Germany. Since inception, 36 investments have been completed with Neuhaus Partners as lead investor in 34. Of these there have been two IPO’s, thirteen trade sales, two buy-backs and nine insolvencies.
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