MBG Schleswig-Holstein

What MBG Schleswig-Holstein does

MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH is a regional private equity and venture capital provider founded in 1994 and headquartered in Kiel, Germany. The company supplies equity and mezzanine capital to small and medium-sized enterprises (SMEs) across Schleswig-Holstein, deploying both silent participations (typisch stille Beteiligungen, typically 10-year terms, ~8% p.a. fixed compensation plus profit participation) and open participations (where MBG becomes a shareholder with governance rights). It operates a shelf of nine specialized funds — MBG-Fonds, Beteiligungsfonds Mittelstand SH, Innovationsfonds SH, InnoGrowth SH, Mittelstandsfonds Schleswig-Holstein, Unternehmensübernahme PLUS, VC-Fonds, Mikromezzaninfonds Deutschland, and Steinburg-Fonds — covering tickets from €10,000 (micro-mezzanine) to €3.5M (mid-market). Target segments include startup formation, company succession, growth, stabilization, and sustainable business, with 42.4% of 2023 approvals (€10.3M of €24.3M) directed to sustainability-aligned projects.

MBG's business model is that of a public-mandated, state-promoted Beteiligungsgesellschaft: it is owned by a consortium of regional institutional shareholders including Investitionsbank Schleswig-Holstein, Sparkassen- und Giroverband SH, DZ BANK, Deutsche Bank, Commerzbank, UniCredit, Bürgschaftsbank SH, the three IHKs, two Handwerkskammern, the Studien- und Fördergesellschaft, and the Land Schleswig-Holstein. It earns revenue through fixed Beteiligungsentgelt, processing fees, profit participation, and capital gains on exits (sale, secondary sale, or buyback after 7-10 years). Distribution is driven by 22 dedicated Kundenbetreuer/Beteiligungsmanager supported by regional bank partnerships, IHK/HWK referrals, and co-financing with Bürgschaftsbank and IB.SH.

As of recent disclosures, MBG manages over €141M in participations across more than 650 active portfolio companies and receives roughly 650 financing inquiries per year. The company is currently signaling a strategic shift toward more active open equity participations, expanding ticket sizes through the Mittelstandsfonds and Unternehmensübernahme PLUS vehicles, and deepening its sustainable-finance focus. MBG does not develop proprietary technology and is not an AI-native business; its competitive position rests on regional distribution, regulatory mandate, and three decades of credit memory in the Schleswig-Holstein SME market.

Name

MBG Schleswig-Holstein

Legal name

MBG Mittelständische Beteiligungsgesellschaft Schleswig-Holstein mbH

Website

https://mbg-sh.de

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity

NAICS

All Other Financial Investment Activities (52399)

akta.pro industry

PRIMARYFSANABAL

Management Buyout / Management Buy-In (MBO/MBI)

Financial & Insurance/Private Equity & Venture Capital/Private Equity Firms (Buyout)

Keywords

• Venture capital services
• Equity financing
• SME funding
• Mezzanine capital
• Private equity investments

Headquarters

HQ city

Kiel

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Equity Returns from Silent Partnerships: MBG generates returns through silent (typisch stille) equity participations where they receive fixed interest payments (Beteiligungsentgelt) typically around 8% p.a., plus profit-dependent compensation (gewinnabhängige Vergütung). The typical term is 10 years with repayment usually starting after year 7.
2. Open Equity Participation Returns: For open (offene) participations, MBG becomes a shareholder receiving dividends and capital gains from equity value appreciation. These exits typically occur through company sale, sale of MBG shares to third parties, or buyback by company shareholders (avg. 7-10 years).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

MBG Schleswig-Holstein is a regional private equity company providing equity participation financing to small and medium-sized enterprises (SMEs) in Schleswig-Holstein, Germany. It operates multiple specialized investment funds offering both silent (stille) and open (offene) equity participations ranging from €10,000 to €3.5 million per transaction. The funds cover startup financing, innovation support, company succession, growth capital, stabilization, and sustainable business development.

Product overview

MBG Schleswig-Holstein is a regional private equity company offering equity participation financing for SMEs in Schleswig-Holstein. The company operates multiple specialized investment funds (MBG-Fonds, Beteiligungsfonds Mittelstand SH, Innovationsfonds SH, InnoGrowth SH, Mittelstandsfonds Schleswig-Holstein, Unternehmensübernahme PLUS, VC-Fonds, Mikromezzaninfonds Deutschland, Steinburg-Fonds) providing both silent and open equity participation. Financing volumes range from 10,000 euros (Mikromezzaninfonds) to 3.5 million euros (Mittelstandsfonds). The funds serve different target groups including start-ups, innovative SMEs, companies in succession, and growth-oriented businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• MBG-Fonds

Quantifiable outcome

• 42.4% of €24.3M total approvals in 2023 directed to sustainable financing projects (up from 31.2% in previous year)
• +1 more outcomes

Named customers20 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• IHK Schleswig-Holstein (Flensburg, Kiel, Lübeck)coreStrategic or Co-development PartnerIndustry chambers as shareholders; co-organize financing consultation days and educational seminars on business planning and financial management for SMEs
• Handwerkskammer Flensburg and LübeckminorStrategic or Co-development PartnerTrade guilds as shareholders providing referral network for craft business financing
• WTSH - Wirtschaftsförderung und Technologietransfer Schleswig-Holstein GmbHcoreStrategic or Co-development PartnerLead advisor for spin-offs from universities, research institutions, and R&D companies; startup support through startuphub.SH; provides advisory support for innovation funding
• Entwicklungsgesellschaft Westholstein mbH (egw)minorStrategic or Co-development PartnerEconomic development corporation for Westholstein region; co-funder of Steinburg-Fonds for local SME support
• Studien- und Fördergesellschaft der Schleswig-Holsteinischen Wirtschaft e.V.minorStrategic or Co-development PartnerSupport society for Schleswig-Holstein economy as shareholder; provides additional network and support services
• WEstartupSHminorStrategic or Co-development PartnerPlatform for female founders and entrepreneurs; organizes FEMALE STARTAPERITIVO pitching competition held across Germany
• EnBW (Energie Baden-Württemberg)minorStrategic or Co-development PartnerPortfolio company Wallaby Boats received support for innovative offshore wind transfer vessel development with EnBW technology
• BVK - Bundesverband Deutscher Kapitalbeteiligungsgesellschaften e.V.minorStrategic or Co-development PartnerMBG is ordinary member of German Private Equity Association representing industry standards and networking

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MBG Baden-Württemberg: The Mittelständische Beteiligungsgesellschaft for Baden-Württemberg, structurally identical to MBG SH as a state-level SME equity provider with silent and open participations. Direct functional and operational twin operating in Germany's largest state economy.
• MBG Bayern (Bayerische Beteiligungsgesellschaft): Bavaria's regional SME equity capital company, providing silent and open participations to Mittelstand companies — same promotional mandate, fund architecture, and shareholder mix as MBG Schleswig-Holstein.
• MBG Niedersachsen: Lower Saxony's Mittelständische Beteiligungsgesellschaft, offering equity participations to SMEs across seed, growth, and succession phases — a state-level functional equivalent serving a different German region.
• Bürgschaftsbank Schleswig-Holstein: Schleswig-Holstein's guarantee bank and direct MBG co-investor/partner. Both institutions are core promotional vehicles of the Land SH for SME financing and operate jointly through the MBG-Beteiligung mit Bürgschaftsbank program.
• Investitionsbank Schleswig-Holstein (IB.SH): The state development bank of Schleswig-Holstein, a major MBG shareholder and co-funding partner across InnoGrowth SH, Innovationsfonds SH, and Mittelstandsfonds. Provides grants, loans, and equity capital to the same SME customer base.
• High-Tech Gründerfonds (HTGF): Germany's largest seed-stage technology investor, partnering with MBG in the regional startup ecosystem. Targets overlapping early-stage, technology-oriented SMEs in Schleswig-Holstein via co-financing arrangements.

Broad incumbents

• KfW Bankengruppe: Germany's national promotional bank, providing global funding to MBG programs (e.g., InnoGrowth SH) and operating SME equity/loan programs of its own. Same promotional mission at national scale with much broader product set.

Regional players

• NRW.BANK: State development bank of North Rhine-Westphalia offering promotional SME financing including equity participations. Functions as a regional peer to MBG SH but operates in a much larger, structurally different state economy.

Others

• BVK - Bundesverband Deutscher Kapitalbeteiligungsgesellschaften: German Private Equity and Venture Capital Association of which MBG SH is an ordinary member. Industry body representing German PE/VC firms, providing the institutional and lobbying context in which MBG operates.

Emerging players

• Baltic Business Angels e.V. Regional angel investor network in Schleswig-Holstein providing early-stage capital and mentorship. A complementary, not directly competing, source of equity capital for the same startup customer base that MBG serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mbg-sh

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments14 records

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

Frequently asked questions about MBG Schleswig-Holstein