Mittelständische Beteiligungsgesellschaft Thüringen

What Mittelständische Beteiligungsgesellschaft Thüringen does

Mittelständische Beteiligungsgesellschaft Thüringen mbH (MBG Thüringen) is a privately held, government-backed equity participation company headquartered in Erfurt, Thuringia, Germany. Founded on 27 January 1992 and registered at Amtsgericht Jena (HRB 106221), the firm has operated for over 30 years with a registered capital (Stammkapital) of 9.9 million EUR and a small team of 11–50 employees led by four managing directors. Its functional role is to provide silent and open equity participations (stille und offene Beteiligungen) as economic equity capital to small and medium-sized enterprises, founders, and succession candidates across all 23 districts of Thuringia.

The product portfolio comprises five financing programs: MBG classic (silent participations up to 1.5 million EUR, open up to 300,000 EUR), MBG Mikromezzanin (federal micro-mezzanine from 10,000 EUR up to 100,000–150,000 EUR), MBG inno (venture-style capital up to 3 million EUR for innovative SMEs via KfW Zukunftsfonds RegioInnoGrowth), BBT | MBG kombi (combined Bürgschaftsbank Thüringen guarantee plus silent participation up to 500,000 EUR), and MBG express (accelerated silent participation up to 140,000 EUR with a 10-working-day decision). Underlying technology is limited to a website, a secure document upload portal (exec-services.de), the national VDB digital financing portal, and integrations with SCHUFA, Google Maps, and cookie-consent tooling — there is no proprietary technology platform.

The business model is quasi-public promotional rather than profit-maximizing. MBG Thüringen charges one-time processing fees (1.5–3.5% depending on program) and recurring annual fees with fixed and profit-dependent components, and it receives back-guarantees from the Thuringian Ministry of Finance and the Thuringian Ministry for Economic Affairs. Go-to-market is regional and relationship-driven: three regional advisors cover East, South, and Central/West Thuringia, supplemented by referral channels through tax advisors, chambers (IHK/HWK), and the savings banks association. The firm excludes agricultural production and is agnostic to industry otherwise. In 2025, it deployed 7.5 million EUR in new participations across 10 companies, mobilizing 105 million EUR in total investment capital and supporting 1,640 jobs, bringing the cumulative portfolio to 144 participations.

Name

Mittelständische Beteiligungsgesellschaft Thüringen

Legal name

Mittelständische Beteiligungsgesellschaft Thüringen mbH

Website

https://mbg-thueringen.de

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Mittelständische Beteiligungsgesellschaft Thüringen is a government-backed equity participation company in Erfurt that provides silent and open participations to small and medium-sized enterprises, founders, and succession candidates across Thuringia through multiple federal- and state-funded programs.

Ownership category

akta.pro rank

Product category

SME Equity Financing

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199)

akta.pro primary industry

Independent Venture Debt Funds / Platforms (FSANAIAB)

akta.pro secondary industry

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

Keywords

• SME equity financing
• Silent participations
• Venture capital
• Mezzanine financing
• Business succession

Headquarters

HQ city

Erfurt-bindersleben

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Silent Participation Fees: MBG Thüringen provides silent (stille) and open (offene) equity participations to SMEs. Revenue is generated through one-time processing fees and ongoing annual fees including fixed and profit-dependent components. The organization operates as a public-supported entity focused on Mittelstand promotion rather than profit maximization.
2. Micro-Mezzanine Fund Management: MBG Thüringen administers the Micro-Mezzanine fund (Mikromezzaninfonds) on behalf of the Federal Ministry for Economic Affairs, funded by ESF Plus and ERP Special Assets. Fees include 3.5% one-time processing fee, 8% annual fixed fee, and 2% annual profit participation.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Mittelständische Beteiligungsgesellschaft Thüringen (MBG Thüringen) provides silent (stille) and open (offene) equity participations as economic equity capital to small and medium-sized enterprises, founders, and business successors in Thuringia. The company offers financing solutions for business founding, growth, modernization, and succession, operating through programs such as MBG classic, MBG Mikromezzanin, MBG inno, BBT | MBG kombi, and MBG express.

Product overview

MBG Thüringen operates as a regional equity participation company (Mittelständische Beteiligungsgesellschaft) providing a portfolio of equity and quasi-equity financing products for SMEs, founders, and business successors in Thuringia. The core product line consists of MBG classic (standard silent and open participations up to 1.5M EUR), MBG inno (innovation-focused venture capital up to 3M EUR from KfW Zukunftsfonds), and MBG mikromezzanin (micro-mezzanine subordinated capital from the federal Mikromezzaninfonds up to 150,000 EUR). These are complemented by BBT | MBG kombi (a combined surety-participation program with Bürgschaftsbank Thüringen), MBG express (accelerated participations up to 140,000 EUR), and a secure upload portal for document submission. The company favors no specific industry but excludes agricultural production, and its participations are recognized as economic equity capital that strengthens balance sheets without requiring tangible collateral.

Differentiator

Problem solved

Functional benefit

Brands

• MBG classic: Stille und offene Beteiligungen für Gründer, Unternehmen und Nachfolger. Stille Beteiligungen bis zu 1,5 Mio. EUR (in Ausnahmefällen bis 2,5 Mio. EUR), offene Beteiligungen bis zu 300.000 EUR.
• MBG inno
• MBG Mikromezzanin
• MBG kombi
• MBG express

Products and services

• MBG classic Standard silent and open equity participations for founders, businesses, and freelancers in Thuringia. Silent participations up to 1.5 million EUR (up to 2.5 million EUR in exceptional cases); open participations up to 300,000 EUR. MBG retains no voting rights and does not interfere in business operations. Maximum 10-year term with payback at nominal value.
• MBG Mikromezzanin Micro-mezzanine financing providing equity-like subordinated capital from the Mikromezzaninfonds Deutschland (Federal Ministry for Economic Affairs, ESF+). Participation amounts from 10,000 EUR up to 100,000 EUR (up to 150,000 EUR for ESF target groups). 10-year term with 7 years interest-only and 3-year repayment period.
• MBG inno Venture capital for start-ups and growth-oriented SMEs with innovative business models (digital, ecological, or social innovations) and group turnover up to 75 million EUR. Funded through KfW Zukunftsfonds (RegioInnoGrowth) and ERP Sondervermögen. Participation amounts from 50,000 EUR up to 3 million EUR. Maximum 10-year term.
• BBT | MBG kombi Combined program offering both a Bürgschaftsbank surety (up to 250,000 EUR with 80% surety quota) and a silent participation from MBG (up to 250,000 EUR) to finance projects up to 500,000 EUR. Suitable for start-ups, expansions, modernizations, and business successions. Maximum 10-year term.
• MBG express Accelerated silent participation program for established companies needing up to 140,000 EUR with simplified credit check and decision within 10 working days. Targeted at market development costs, rationalization, and product assortment changes.

Quantifiable outcome

• 1,640 jobs created and secured in 2025
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Nine partnerships are on record, tiered minor, core and major.

• get started 2gether (Technologiewettbewerb)minorGTM or Marketing Partner · 6 February 2026MBG Thuringia is first-time sponsor of the technology competition 'get started 2gether' supporting innovative startups. Förderungen im Gesamtwert von 1 Mio. EUR available through the competition.
• Bürgschaftsbank Thüringen GmbHcoreStrategic or Co-development PartnerClose operational partner with shared events (Neujahrsempfang), combined programs (BBT | MBG kombi), and joint presence. Both organizations serve Thuringian SMEs from the same headquarters.
• beteiligungsmanagement Thüringen gmbh (bm|t)majorStrategic or Co-development PartnerThuringian investment management company, part of the regional financing ecosystem for SMEs.
• Sparkassen- und Giroverband Hessen-ThüringenmajorChannel Partner/ Reseller/ DistributorSavings banks association serving as distribution channel for SME financing. Savings banks are primary Hausbank partners.
• Industrie- und Handelskammer ErfurtmajorChannel Partner/ Reseller/ DistributorChamber of Commerce and Industry - shareholder and referral partner. IHK advisors inform member companies about MBG participation options.
• Industrie- und Handelskammer SüdthüringenmajorChannel Partner/ Reseller/ DistributorChamber of Commerce and Industry South Thuringia - shareholder and referral partner for SME financing.
• Handwerkskammer ErfurtmajorChannel Partner/ Reseller/ DistributorChamber of Crafts Erfurt - shareholder and referral partner for trade businesses seeking MBG financing.
• Verband Deutscher Bürgschaftsbanken (VDB)majorStrategic or Co-development PartnerNational association of guarantee banks. MBG Thuringia is member. VDB coordinates shared standards and digital platforms like Finanzierungsportal.
• Bundesverband Deutscher Kapitalgesellschaften (BVK)minorStrategic or Co-development PartnerGerman Private Equity and Venture Capital Association. Industry representation and networking.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• High-Tech Gründerfonds (HTGF): Germany's leading seed/early-stage venture fund targeting technology startups. Overlaps with MBG inno on innovative SMEs but operates at smaller average ticket sizes, nationwide, and with VC-style returns rather than nominal-value payback.

Direct peers

• MBG Bayern (Bayerische Beteiligungsgesellschaft): Bavaria's state MBG offering silent participations to Mittelstand firms via an identical product model and federal Mikromezzanin program. Comparable in mission, products, regulatory setup and federal funding sources.
• MBG Baden-Württemberg: Sister Mittelständische Beteiligungsgesellschaft operating in Baden-Württemberg with the same silent/open participation and Mikromezzanin product set under the federal Mikromezzaninfonds. Closest structural peer — same product stack, same federal program dependency, different state.
• Bürgschaftsbank Thüringen (BBT): Thuringia's state guarantee bank, sharing the same Erfurt headquarters and co-running the BBT|MBG kombi program and Neujahrsempfang. It is the closest peer — both serve Thuringian SMEs from the same building via parallel instruments (guarantees vs. silent participations).
• beteiligungsmanagement Thüringen (bm|t): Thuringian investment management company that deploys public and private capital into regional companies. It overlaps directly with MBG's mandate and is named as a strategic partner, addressing the same Thuringian SME equity gap.

Others

• Verband Deutscher Bürgschaftsbanken (VDB): National association of all German guarantee/MBG banks; MBG Thüringen is a member. VDB coordinates shared standards and runs the Finanzierungsportal.ermoeglicher.de that MBG uses for digital deal intake — an enabling ecosystem peer.
• BVK (Bundesverband Deutscher Kapitalgesellschaften): German Private Equity and Venture Capital Association, of which MBG is a member. Provides industry representation and networking; comparable as a peer only in the meta sense of industry affiliation rather than direct competitive overlap.

Broad incumbents

• Thüringer Aufbaubank (TAB): Thuringia's state development bank and MBG shareholder; provides broader promotional loans, grants and equity instruments. Comparable as a regional public-development finance institution, but with a wider portfolio beyond SME equity participations.
• KfW Mittelstandsbank: Germany's federal development bank and MBG's largest capital source for MBG inno via RegioInnoGrowth. Indirectly comparable as the upstream funder that defines product parameters, terms and capital cycles for MBG's innovation programs.

Regional players

• MBG Sachsen-Anhalt: Sister Mittelständische Beteiligungsgesellschaft in neighboring Sachsen-Anhalt with the same federal Mikromezzanin program and silent-participation model. Comparable structurally, but serves a different state, not directly competing for Thuringian SMEs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/mbg_thueringen

Compliance2 records

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

Investments8 records

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

Frequently asked questions about Mittelständische Beteiligungsgesellschaft Thüringen