Bayern Kapital
No summary available yet.
Bayern Kapital operates as a co-investor alongside private investors, adhering to the pari-passu principle, and typically holds minority stakes. We invest according to the pari-passu principle. In the case of a financing round, this means that all parties involved are treated equally and must invest the same amount of capital as Bayern Kapital. This is both their strength and potential limitation - they're patient, government-backed capital that won't push for quick exits, but they require private lead investors to move. With 3 unicorns (IQM, Quantum Systems, EGYM) and strong exits like MorphoSys, they clearly pick winners, but their bureaucratic structure means slower decisions than pure private funds. Their 8-10 year investment horizons and €700M+ AUM make them ideal for deep tech that needs patient capital, but expect more process and committees than your typical VC.
- —Best for: Deep tech needing patient, long-term capital with government backing
- —Watch out for: Slower decision-making, requires private lead investor to participate
- —Known for: Strong Bavaria network, 30-year track record, co-investment approach
We invest in innovative Bavarian start-ups and scale-ups from all areas of technology: from high-tech to deep tech and life sciences. The industries we finance include biotechnology and life sciences, medical technology, software and IT, environmental and nanotechnology, materials and new materials. We stand for sustainable innovation from Bavaria and invest for the long term and across multiple rounds.
Seed to Series B focus, primarily Bavaria-based companies. Most active in enterprise software (88 investments), high tech (67), life sciences, and SaaS. Investment sizes from €250K to €50M with heavy co-investment approach alongside private investors.
Monika Steger (49) took over as Managing Director in April 2022, replacing Roman Huber. She has been with Bayern Kapital in leadership roles since 2003, serving as authorized signatory since 2010 and deputy management member since 2012. Together with Dr. Georg Ried, she forms the dual leadership of Bayern Kapital.
Dr. Georg Ried (62), who has been a member of the management of the company since 2013, forms the new dual leadership of Bayern Kapital alongside Monika Steger. He is described as an experienced fund manager who complements Steger well in their dual leadership approach.
Have a specific question about Bayern Kapital?
Ask Bernie →