Bayern Kapital

What Bayern Kapital does

Bayern Kapital GmbH is a public venture capital firm and 100% subsidiary of LfA Förderbank Bayern (the state development bank of the Free State of Bavaria), founded in 1995 and headquartered in Landshut with additional offices in Munich (Werk 1 and Urban Colab). It operates a multi-fund investment platform covering the full lifecycle of Bavarian high-tech, deep-tech, and life sciences startups, with six distinct fund vehicles: Seedfonds Bayern (up to €750K), Innovationsfonds Bayern (up to €2.5M), Innovationsfonds EFRE II (up to €3M, up to €8M with STEP), Wachstumsfonds Bayern (€2–10M), ScaleUp-Fonds Bayern (€10–25M, €200M total), and the newer Wachstums- und ScaleUp-Fonds (up to €50M per company, €500M total). The firm manages approximately €1.3 billion in assets under management, has invested over €650 million of its own equity across more than 380 startups and scaleups, and currently holds more than 120 active portfolio companies that have collectively created over 7,000–12,000 jobs in Bavaria.

The firm invests pari passu alongside private co-investors on standard VC economic terms, meaning every Bayern Kapital commitment must be matched by at least an equal private investment on the same terms. Its revenue model combines fund management economics (management fees and carried interest on deployed capital) with venture capital returns generated from exits such as EOS, SIRION Biotech (acquired by Perkin Elmer in 2021), AMW GmbH (sold to Ren Life Sciences and Juno Capital Partners in March 2026), and Veact GmbH (acquired by Infomedia in June 2026). Bayern Kapital is restricted by mandate to companies whose registered office, development site, or value creation is in Bavaria, and operates from a documented digital infrastructure stack (Usercentrics for consent management, etracker for analytics, Mailchimp for newsletters, DocuSign for e-signatures) to manage deal flow, co-investor syndication, and portfolio communications.

Bayern Kapital is governed by Managing Directors Monika Steger and Markus Mrachacz, with Dr. Sabine Jarothe chairing the supervisory board, and is led by a 30–50+ person investment team organized around an Investment Team, controlling, HR, communications, and investor relations functions. Its go-to-market combines direct inbound pitch-deck submission ([email protected]), curated in-person networking events (connect@bayernkapital, Thementag Space with the German Air Force, VC-Insights with Encourage Ventures), and earned media coverage in VC Magazin, Plattform Life Sciences, IHK Magazine, and Chemie Cluster Bayern. The portfolio spans biotech, fusion energy, space tech, quantum computing, AI/deepfake detection, cybersecurity, agritech, climate tech, e-commerce software, and industrial 3D printing, with notable positions including commercetools, EGYM, Isar Aerospace, OroraTech, SimScale, IQM Quantum Computers, Proxima Fusion, Tubulis, and Reflex Aerospace.

Name

Bayern Kapital

Legal name

Bayern Kapital GmbH

Website

https://bayernkapital.de

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Bayern Kapital is Bavaria's public venture capital firm and 100% subsidiary of LfA Förderbank Bayern, investing €250K–€50M in Bavarian high-tech, deep-tech, and life sciences startups from pre-seed to scale-up, with ~€1.3B AUM across 380+ portfolio companies.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259), Open-End Investment Funds (52591)

SIC

Investors, Nec (6799)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industry

Venture Capital Fund-of-Funds (FSANAGAC)

Keywords

• Venture capital investing
• Growth equity financing
• Seed-stage investment
• Deep tech funding
• Co-investment syndication

Headquarters

HQ city

Landshut

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Venture capital fund returns: Bayern Kapital invests 250,000 EUR to 50,000,000 EUR of equity per company via multiple fund vehicles (Seedfonds Bayern, Innovationsfonds, Innovationsfonds EFRE II, Wachstumsfonds Bayern, ScaleUp-Fonds Bayern with 200M EUR volume, and the 500M EUR Wachstums- und ScaleUp-Fonds). Returns are generated from successful exits such as the 2026 sale of Veact GmbH to Infomedia, the 2021 exit of SIRION Biotech to Perkin Elmer, EOS, EGYM, commercetools, and others; Bayern Kapital explicitly states it works profit-oriented like every VC investor. The structure allows patient capital across many financing rounds.
2. Fund management under management fees and carried interest: Bayern Kapital manages around 1.3 billion EUR of fund capital for the Free State of Bavaria, deploying over 650 million EUR of its own equity into more than 380 startups and scaleups. As a 100% subsidiary of LfA Förderbank Bayern, the firm operates under standard VC fund economics while also generating the so-called "Bayern-Effekt" of technology innovation and over 12,000 jobs across the region.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels10 records

Core offering

Bayern Kapital provides venture capital financing to Bavarian high-tech, deep-tech and life sciences startups and scaleups through a stack of six complementary fund vehicles ranging from Seedfonds Bayern (up to €750K) and Innovationsfonds Bayern (up to €2.5M) through Innovationsfonds EFRE II (up to €3M, up to €8M with STEP) to Wachstumsfonds Bayern (€2–10M), ScaleUp-Fonds Bayern (€10–25M) and the €500M Wachstums- und ScaleUp-Fonds (up to €50M per company). All investments are made pari passu alongside private co-investors under standard VC economic terms, with the firm operating as a 100% subsidiary of LfA Förderbank Bayern on behalf of the Free State of Bavaria.

Product overview

Bayern Kapital is not a technology product company but rather Bavaria's venture capital and growth investor for the high-tech and deep-tech sector, operating as a 100% subsidiary of LfA Förderbank Bayern. Its offering is a platform of complementary investment funds rather than a single product: the Seedfonds Bayern (up to 750,000 EUR), the Bayern Kapital Innovationsfonds (up to 2.5M EUR), the Bayern Kapital Innovationsfonds EFRE II (up to 3M EUR, up to 8M with STEP program), the Wachstumsfonds Bayern (2-10M EUR), the ScaleUp-Fonds Bayern (10-25M EUR), and the newest Wachstums- und ScaleUp-Fonds (up to 50M EUR, 500M total volume) work together to provide a continuous capital path from pre-seed through exit. These funds form the core capital-deployment services, complemented by co-investment support for private investors (pari passu), founder support services (expertise and network), a curated portfolio of over 380 startups, and community-building events like connect@bayernkapital. The firm has over 30 years of experience, 1.3 billion EUR under management, and focuses on Bavarian high-tech, deep tech, and life sciences companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Seedfonds Bayern Seed fund investing up to €750,000 per company in young Bavarian tech companies (max 24 months company age) at the beginning of product development. Targets founders in the very first stage who need initial equity capital alongside later Bayern Kapital vehicles.
• Bayern Kapital Innovationsfonds Innovation fund investing up to €2.5 million per company in young Bavarian tech companies in the development phase, requiring innovative business models and internationally scalable growth strategies.
• Bayern Kapital Innovationsfonds EFRE II EFRE II innovation fund investing up to €3 million per company in Bavarian EFRE regions developing new products/production processes or financing market entry, co-financed by the European Regional Development Fund (EFRE); with EU STEP program additional funding ticket sizes can reach up to €8 million.
• Wachstumsfonds Bayern (Growth Fund) Growth fund investing €2–10 million per company from Series A onwards, primarily in cooperation with private investors and often combined with subordinated loans, targeting established Bavarian companies entering the growth phase.
• ScaleUp-Fonds Bayern ScaleUp fund with €200 million total volume, enabling investment tickets of €10–25 million per company for capital-intensive growth or imminent-exit companies from Series A onwards.
• Wachstums- und ScaleUp-Fonds (Growth and ScaleUp Fund) Bayern Kapital's largest and newest fund, with a €500 million total volume, supporting established rapidly expanding tech companies in the later-stage phase targeting international growth or exit, with ticket sizes up to €50 million per company.
• Bayern Kapital Co-Investment Syndication Service Service for private investors (venture capital funds, corporate VCs, family offices, and business angels) that enables them to co-invest pari passu alongside Bayern Kapital's anchor tickets, with access to weekly consortium formation and a 30-year DACH network.
• Bayern Kapital Founder Support Services Non-capital support offering for founders combining capital, operational expertise and access to a deep network of market-leading companies, industry experts and investors across all company phases from seed to growth through successful exit or IPO.

Quantifiable outcome

• 1.3 billion EUR under management with 380+ portfolio companies and 12,000+ jobs created in Bavaria
• +4 more outcomes

Named customers60 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

15 partnerships are on record, tiered major co-investor and oem partner in deepdrive alongside bayern kapital., co-investor in deepdrive alongside bayern kapital; major automotive oem partnership potential., strategic event partner for the thementag space 2026 in munich., recurring event co-organizer with bayern kapital for business angel programming., external pr agency partner for bayern kapital (daniela palatzky, sendlinger straße 42a, 80802 münchen)., design and website partner (munich)., consent management platform provider for the bayern kapital website (gdpr compliance)., newsletter delivery vendor for bayern kapital., web analytics provider for the bayern kapital website (eprivacyseal certified)., e-signature vendor for bayern kapital deal and corporate workflows., source of bayern kapital's portfolio company proxima fusion (first spin-out)., source of bayern kapital's portfolio company isar aerospace (spin-off)., source of bayern kapital's portfolio company nanostruct (2021 spin-out)., source of bayern kapital's portfolio company nature robots (spin-off). and business angel co-investor in driveblocks alongside bayern kapital..

• BMW i Venturesmajor co-investor and oem partner in deepdrive alongside bayern kapital.Strategic or Co-development PartnerBMW i Ventures, Continental's Corporate VC, and UVC Partners co-invested in DeepDrive, the high-efficiency e-motor developer.
• Continental (Corporate Venture Capital)co-investor in deepdrive alongside bayern kapital; major automotive oem partnership potential.Strategic or Co-development PartnerContinental's Corporate VC arm co-invested in DeepDrive with Bayern Kapital, BMW i Ventures, and UVC Partners.
• Deutsche Luftwaffe (German Air Force)strategic event partner for the thementag space 2026 in munich.GTM or Marketing PartnerJoint host of the curated Thementag Space event on 21–22 April 2026, bringing together selected startups, Luftwaffe/Bundeswehr representatives, space investors and ecosystem partners in multiple Munich locations.
• encourage venturesrecurring event co-organizer with bayern kapital for business angel programming.GTM or Marketing Partnerencourage ventures and Bayern Kapital co-organize the VC-Insights für Business Angels event series, including the June 17, 2026 edition at the Lohaus Gallery on the eve of the Munich Startup Festival.
• Schwartz Public Relationsexternal pr agency partner for bayern kapital (daniela palatzky, sendlinger straße 42a, 80802 münchen).GTM or Marketing PartnerExternal PR agency handling Bayern Kapital's press relations across all media.
• UNIBRAND GmbHdesign and website partner (munich).Strategic or Co-development PartnerUNIBRAND GmbH (Tal 15, 80331 München) handles the conception, design, and realization of the Bayern Kapital website.
• Usercentrics GmbHconsent management platform provider for the bayern kapital website (gdpr compliance).Technology or IntegrationUsercentrics Consent Management Platform is used to gather and manage cookie consent on the Bayern Kapital website in compliance with GDPR Art. 6(1)(c). Data processed within the EU.
• Mailchimp (Rocket Science Group LLC)newsletter delivery vendor for bayern kapital.Technology or IntegrationMailchimp is used to send Bayern Kapital's newsletter and analyze campaign performance, with US data transfers based on EU Standard Contractual Clauses.
• etracker GmbHweb analytics provider for the bayern kapital website (eprivacyseal certified).Technology or Integrationetracker is used for web analysis and optimization of the Bayern Kapital website, with data processed exclusively in Germany and an ePrivacyseal certification.
• DocuSign, Inc.e-signature vendor for bayern kapital deal and corporate workflows.Technology or IntegrationDocuSign is used for legally secure electronic signatures on Bayern Kapital documents, with EU and US data transfers governed by the EU-US Data Privacy Framework, BCRs, and SCCs.
• Max-Planck-Institut für Plasmaphysiksource of bayern kapital's portfolio company proxima fusion (first spin-out).Strategic or Co-development PartnerMax-Planck-Institut für Plasmaphysik is the originating research institution of Proxima Fusion, building on the W7-X stellarator experiment. Bayern Kapital's portfolio success story.
• Technische Universität München (TUM)source of bayern kapital's portfolio company isar aerospace (spin-off).Strategic or Co-development PartnerIsar Aerospace is a 2018 spin-off of TUM; Bayern Kapital is an anchor investor in the company.
• Julius-Maximilians-Universität Würzburgsource of bayern kapital's portfolio company nanostruct (2021 spin-out).Strategic or Co-development PartnerUniversity origin of NanoStruct, the food-safety detection startup in Bayern Kapital's portfolio.
• German Research Center for Artificial Intelligence (DFKI)source of bayern kapital's portfolio company nature robots (spin-off).Strategic or Co-development PartnerNature Robots is a spin-off of the German Research Center for Artificial Intelligence (DFKI), in which Bayern Kapital is an investor.
• Joachim Drees (former MAN Truck & Bus CEO)business angel co-investor in driveblocks alongside bayern kapital.Strategic or Co-development PartnerFormer MAN Truck & Bus CEO Joachim Drees co-invested as a business angel in driveblocks' €3.5M Pre-Series A alongside Bayern Kapital, FORWARD.one and Rethink Ventures.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bayern-kapital-gmbh

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments303 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bayern Kapital