MIG Fonds
MIG Fonds is a Munich-based German venture capital fund manager established in 2005, operating 18 closed-end VC funds with ~€1.3 billion in committed capital that invest in early- and growth-stage technology companies across life sciences, quantum computing, AI/robotics, space tech, and deep tech, distributed directly to retail and family-office investors via the HMW platform.
- Company typePrivate
- Founded2005
- HeadquartersPullach Im Isartal, Germany
- Headcount11–50
- GTM typeB2C
- OfferingServices
What MIG Fonds does
MIG Fonds is a Munich-based German venture capital fund manager established in 2005 that operates a series of closed-end private placement funds (MIG 1 through MIG 18) investing in early- and growth-stage technology companies. Sponsorship of the funds is structured across three affiliated entities: HMW Emissionshaus AG acts as the fund initiator/issuer and is responsible for the prospectus, MIG Capital AG serves as the exclusive investment manager (company-builder) selecting and supporting portfolio companies, and MIG Beteiligungstreuhand GmbH is the contractual counterparty for investors. Across 18 vintages, MIG has raised approximately €1.3 billion in committed capital from individual retail investors, family offices, and professional VCs, generating 17 trade-sale exits and 4 IPOs (BioNTech, immatics, NFON, IQM via SPAC).
Portfolio focus spans life sciences (biotech, microbiome, neuroscience, immunotherapy, regenerative materials), quantum computing, AI/robotics hardware, space technology, industrial biotech, and advanced semiconductors — sectors MIG describes as the key industries of the 21st century. Notable exits include BioNTech (NASDAQ IPO October 2019, ~€763.8M proceeds to MIG), Siltectra (sold to Infineon 2018, €91.43M), and GANYMED (sold to Astellas 2016, €59.9M). Active 2023–2026 deployments include mbiomics, HawkCell, Look Up, Innatera, SciRhom, NcodiN, Inbolt, and TIBEAY.
Commercial model is a standard two-and-twenty VC fund structure with two revenue streams: annual management fees on committed capital (subscription/recurring) covering fund administration, deal sourcing, and portfolio management, and carried interest from successful exits. Distribution is bank-independent and stock-exchange-independent (banken- und börsenunabhängig): HMW Fundraising GmbH coordinates sales; the hmw.kdportal.de investor portal enables direct subscription by qualified investors in Germany, Austria and Switzerland; HMW Emissionshaus AG issues the prospectus and operates mig-fonds.de as the primary information platform. Customer segments are (1) individual retail investors, (2) family offices and professional VCs as co-investors, and (3) portfolio-company startups. The firm employs 11–50 people across the affiliated entities and is led by named partners and principals of MIG Capital AG including Andreas Kastenbauer, Dr. Søren Hein (now COO/Deputy CEO of IQM Quantum Computers), Frederick Michna, Christina Vogt-Sasse, Dr. Fei Tian, Matthias Guth, and Dr. Oliver Kahl.
MIG Fonds firmographics
Firmographics- Name
- MIG Fonds
- Legal name
- MIG Beteiligungstreuhand GmbH
- Website
- https://mig-fonds.de
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MIG Fonds is a Munich-based German venture capital fund manager established in 2005, operating 18 closed-end VC funds with ~€1.3 billion in committed capital that invest in early- and growth-stage technology companies across life sciences, quantum computing, AI/robotics, space tech, and deep tech, distributed directly to retail and family-office investors via the HMW platform.
- Ownership category
- akta.pro rank
MIG Fonds industry classification
Industry- Product category
- Venture Capital Fund Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599), Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282), Investors, Nec (6799)
- akta.pro primary industry
- Venture Debt Providers (FSANAAAL)
- akta.pro secondary industries
- Venture Capital Fundraising Placement (FSAEALAC), Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)
Keywords
Where MIG Fonds is headquartered
LocationHeadquarters
- HQ city
- Pullach Im Isartal
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
MIG Fonds business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Management Fees: MIG Fonds generates revenue through annual management fees charged on committed capital from investors. These fees cover fund administration, deal sourcing, portfolio management, and reporting.
- Carried Interest (Performance Fees): Fund managers earn carried interest from successful exits when portfolio companies are profitably sold, aligning manager and investor interests. Exit examples include Hemovent (25.5M EUR proceeds), Siltectra (91.43M EUR to Infineon), and GANYMED (59.9M EUR to Astellas).
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
MIG Fonds product offering
Product offeringCore offering
MIG Fonds raises and manages a series of closed-end venture capital private placement funds (MIG 1 through MIG 18) that invest equity capital in young, innovative, unlisted technology companies. Private and institutional investors subscribe to the funds directly through MIG's bank- and stock-exchange-independent platform; returns are generated from profitable trade-sale exits and IPOs of the portfolio companies, with 17 exits and 4 IPOs historically achieved across approximately €1.3 billion of committed capital.
Product overview
MIG Fonds is a German venture capital firm offering a series of 18 investment funds (MIG 1 through MIG 18) managed by MIG Capital AG. The funds invest in innovative technology companies across sectors including life sciences/biotech, AI and computing, MedTech, quantum technology, industrial technology, and SpaceTech. MIG 18 is the current fund in placement, building on the track record of 17 prior fully-placed funds that have produced 17 exits, 4 IPOs, and €1.3 billion in committed capital.
Differentiator
Problem solved
Functional benefit
Brands
- MIG 18: The latest MIG fund, currently in placement, investing in deep tech and innovative technology companies.
- MIG 17
- MIG 16
Products and services
- MIG 18 The latest MIG venture capital fund, currently in placement, investing in deep-tech and innovative technology companies across sectors including life sciences, AI, MedTech, and SpaceTech. Targeted at qualified private and institutional investors who subscribe directly via the MIG-18 platform.
- MIG Fonds (Fund Series 1–17) Series of 17 prior MIG venture capital funds, fully placed, that invested in innovative technology companies across life sciences, AI/robotics, quantum computing, MedTech, and industrial technology. These prior vintages generated 17 exits (including Hemovent, Siltectra, GANYMED, SuppreMol, BRAIN, corImmun, IdentTechnology, etkon, Sunhill, immatics, NFON, BioNTech) and 4 IPOs (BioNTech NASDAQ 2019, immatics NASDAQ 2020, NFON 2019, IQM via SPAC 2025/2026).
Quantifiable outcome
- 17 successful exits generating distributions to investors (e.g., Siltectra to Infineon at 91.43M EUR from 12.73M EUR investment; GANYMED to Astellas at 59.9M EUR from 13.97M EUR investment)
- +3 more outcomes
Companies that use MIG Fonds
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
MIG Fonds technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
MIG Fonds partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- HMW Fundraising GmbHcoreHMW Fundraising GmbH (Münchener Str. 52, 82049 Pullach im Isartal) is the sales coordinator for MIG Fonds. They operate mig-18.de and facilitate the subscription process, directing investors to the investor portal. They coordinate investor communications but are not the contractual counterparty.
- HMW Emissionshaus AGcoreHMW Emissionshaus AG is the initiator and issuer of MIG Fonds, responsible for the fund prospectus (Verkaufsprospekt). They operate mig-fonds.de as the primary information website and are responsible for fund structuring and regulatory compliance documentation. Together with MIG Capital AG and HMW Fundraising GmbH, they form the integrated platform for MIG Fonds operations.
- MIG Capital AG (Fund Manager)coreMIG Capital AG operates as the exclusive company-builder and fund manager for MIG Fonds. The company-builder team provides entrepreneurially experienced, technology-oriented management to select, support, and develop portfolio companies with a focus on sustainable value creation and profitable exits.
- MIG Beteiligungstreuhand GmbHcoreMIG Beteiligungstreuhand GmbH (Ismaninger Straße 102, 81675 München) is the contractual counterparty for investors in MIG Fonds and operates the investor portal on hmw.kdportal.de. They manage investor relations, subscription processing, and fund administration.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
MIG Fonds competitors and assessment
Company assessmentBroad incumbents
- Creandum: European VC firm with multiple funds investing in early-stage technology companies. Comparable to MIG Fonds in fund-of-funds structure and European tech focus, though Creandum is more institutional-only and earlier-stage focused.
- Earlybird Venture Capital: One of Europe's largest and most established VC firms with multiple funds across stages. Comparable to MIG Fonds in European technology focus and German presence, though Earlybird serves more institutional LPs and lacks MIG's retail distribution angle.
- European Investment Fund (EIF): Pan-European fund-of-funds investor and VC enabler. As a major LP and co-investor in many European VC managers including those similar to MIG, EIF represents the institutional capital base against which MIG competes for deal flow and LP relationships.
- Wellington Partners: European VC firm with multiple funds investing in technology and life sciences companies. Comparable to MIG Fonds in deep-tech and life sciences focus, with similar fund vintage structure serving institutional LPs.
Direct peers
- Companisto: German online VC platform enabling retail investors to participate in venture capital rounds. Direct competitor to MIG Fonds' retail-facing distribution model and similarly targets German HNW/retail investors seeking VC exposure.
- seedmatch: German crowd-investing platform for startup equity, closely comparable to MIG Fonds' bank-independent retail VC distribution. Both serve German retail investors seeking direct exposure to private technology companies.
- Bayern Kapital: Munich-based regional VC firm co-investing with MIG Fonds in Bavarian startups (e.g., mbiomics Series A). Both focus on German technology companies with Bayern Kapital providing regional public-fund backing.
- High-Tech Gründerfonds (HTGF): Germany's leading seed-stage VC backed by public and private investors, with €1.4B+ raised across multiple funds. Comparable to MIG Fonds in German deep-tech focus, though HTGF concentrates on earlier seed stages and has broader public backing.
Emerging players
- Y Combinator (YC): Global startup accelerator with growing European presence via YC Continuity. Comparable to MIG Fonds in early-stage tech focus and 20+ year track record, though YC uses an accelerator model and primarily serves institutional/strategic LPs rather than retail.
Regional players
- Forbion: European life sciences-focused VC firm with multiple funds. Comparable to MIG Fonds' life sciences exposure (BioNTech, GANYMED, iOmx, TIBEAY) and similar fund vintage approach, though Forbion specializes exclusively in biotech/healthcare.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MIG Fonds social profiles
Digital presenceMIG Fonds financial estimates
Financial estimateRevenue estimate
Valuation estimate
MIG Fonds leadership team
Management profileNumber of profiles
Profiles7 records
MIG Fonds funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MIG Fonds M&A and investment
M&A and investmentM&A
Investments11 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MIG Fonds
What does MIG Fonds do?
MIG Fonds raises and manages a series of closed-end venture capital private placement funds (MIG 1 through MIG 18) that invest equity capital in young, innovative, unlisted technology companies. Private and institutional investors subscribe to the funds directly through MIG's bank- and stock-exchange-independent platform; returns are generated from profitable trade-sale exits and IPOs of the portfolio companies, with 17 exits and 4 IPOs historically achieved across approximately €1.3 billion of committed capital.
Is MIG Fonds a public or private company?
MIG Fonds is a private company. It is classified as corporate owned and is currently operating.
When was MIG Fonds founded?
MIG Fonds was founded in 2005. It employs 11 to 50 people.
Where is MIG Fonds based?
MIG Fonds is headquartered in Pullach Im Isartal, Germany, in the Europe region.
How does MIG Fonds make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest (Performance Fees).
Who are MIG Fonds's main competitors?
Broad incumbents on record are Creandum, Earlybird Venture Capital, European Investment Fund (EIF) and Wellington Partners. Direct peers are Companisto, seedmatch, Bayern Kapital and High-Tech Gründerfonds (HTGF). Y Combinator (YC) is listed as an emerging player. Forbion is listed as a regional player.
Does MIG Fonds have an API?
No public API is recorded for MIG Fonds.
What industry is MIG Fonds in?
MIG Fonds's product category is Venture Capital Fund Management. Its primary akta.pro industry code is FSANAAAL, Venture Debt Providers, with a secondary code of FSAEALAC, Venture Capital Fundraising Placement. Its NAICS code is 525 and its SIC code is 6282.