Mittelständische Beteiligungsgesellschaft Sachsen - MBG

Name

Mittelständische Beteiligungsgesellschaft Sachsen - MBG

Legal name

Mittelständische Beteiligungsgesellschaft Sachsen mbH

Website

https://mbg-sachsen.de

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Venture Capital and Private Equity

NAICS

All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)

SIC

Miscellaneous Business Credit Institution (6159), Finance Services (6199)

akta.pro primary industry

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

akta.pro secondary industry

Microloans & Working Capital Loans (FSAKAGAA)

Keywords

• Venture capital financing
• SME equity participation
• Business succession funding
• Startup seed investment
• Silent participation capital

Headquarters

HQ city

Dresden

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Silent participations (stille Beteiligungen): MBG provides silent equity participations to SMEs and startups, improving their equity base. These participations are long-term instruments without collateral requirements, counted as economic equity by banks.
2. Direct equity participations (Direktbeteiligungen): MBG takes direct minority equity stakes in companies, holding shares as a minority shareholder, particularly for management buyouts and larger transactions.
3. Venture capital fund management (TGFS): MBG co-finances and manages the TGFS Technologiegründerfonds Sachsen, providing venture capital from seed through Series A. Revenue derived from management fees and carried interest.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Mittelständische Beteiligungsgesellschaft Sachsen (MBG) is a publicly-backed private equity firm that provides silent and direct equity participations to small and medium-sized enterprises, founders, and successors in Saxony. It operates multiple financing programs (Gründen, Nachfolgen, Wachsen, Mikromezzaninfonds III, Direkt, SAVF) ranging from €25,000 to €1.5 million, and also serves as management partner of the TGFS Technologiegründerfonds Sachsen technology-startup venture fund.

Product overview

Mittelständische Beteiligungsgesellschaft Sachsen (MBG) is a private equity company with public funding that improves the equity base of small and medium-sized enterprises in Saxony. It operates multiple financing programs including equity participations for startups (Gründen), business successions (Nachfolgen), and growth initiatives (Wachsen), as well as specialized funds like the Mikromezzaninfonds Deutschland III for micro enterprises and the Saxony Angel Venture Fund (SAVF) for angel-backed startups. MBG also manages the TGFS Technologiegründerfonds Sachsen, providing venture capital for technology-oriented startups from Seed through Series A. The company offers both silent and direct participations ranging from €25,000 to €1.5 million through its various programs. A customer-facing digital platform (Finanzierungsportal) enables online application management.

Differentiator

Problem solved

Functional benefit

Brands

• Saxony Angel Venture Fund (SAVF): Saxony's first fund of its kind that leverages private venture capital by co-investing alongside Business Angels in Pre-Seed and Seed-stage companies with silent participations of up to EUR 100,000.

Products and services

• Gründen (Founding) Program Silent equity participation program for startup founders and new business establishments in Saxony, covering founding costs, initial investments, and inventory from €25,000 up to €1.0 million.
• Nachfolgen (Succession) Program Silent equity participation program supporting business succession transactions, management buyouts (MBO), and management buy-ins (MBI) ranging from €25,000 to €1.0 million.
• Wachstum und Innovation (Growth and Innovation) Program Silent equity participation program for established SMEs in Saxony to fund capacity expansion, modernization, rationalization, product extensions, and market development, ranging from €25,000 to €1.5 million.
• Direkt (Direct Participation) Program Direct minority equity participation program for companies of all sizes in Saxony, holding up to 49% of shareholdings with a maximum of €750,000.
• Mikromezzaninfonds Deutschland III (MMF III) Silent equity participation program for micro and small enterprises with below-average equity ratios, including startups from unemployment, businesses led by women or people with migration backgrounds, and ecologically sustainable or community-oriented enterprises, up to €100,000.
• Saxony Angel Venture Fund (SAVF) First Saxon fund that leverages private venture capital by matching Business Angel investments in Pre-Seed and Seed-stage companies with equal contributions up to €100,000, effectively doubling financing for angel-backed startups.
• TGFS Technologiegründerfonds Sachsen Venture capital fund for knowledge-based, technology-oriented startups in Saxony, supporting teams from Seed phase through Series A and beyond, co-financed and managed by MBG.
• Finanzierungsportal (Financing Portal) Online portal enabling customers, banks, and consultants to submit and track MBG financing applications digitally.

Quantifiable outcome

• In 2024: 83 participations, €15.2M invested, €92.6M investment volume stimulated, 1,520 jobs secured/created
• +2 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Bürgschaftsbank Sachsen GmbH (BBS)coreStrategic or Co-development PartnerBBS and MBG operate under shared leadership (Geschäftsführung Markus H. Michalow, Arne Laß). BBS provides surety/guarantee instruments while MBG provides equity participations. Both serve as self-help institutions of the Saxon economy, sharing offices and strategic coordination.
• Industrie- und Handelskammern (IHK Dresden, IHK Chemnitz, IHK Leipzig)minorChannel Partner/ Reseller/ DistributorRegional chambers of commerce serving as referral partners, recommending MBG financing programs to their member companies. MBG is partially owned by IHKs as shareholder.
• Handwerkskammern (HWK Dresden, HWK Chemnitz, HWK Leipzig)minorChannel Partner/ Reseller/ DistributorRegional crafts chambers serving as referral partners. MBG is partially owned by HWKs as shareholder.

Scale indicators7 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• Sächsische Aufbaubank (SAB): Saxony's state development bank. SAB is MBG's largest co-financing partner and co-financed the €40M Corona startup fund. While not a direct equity participant, SAB's broader funding programs (loans, subsidies, grants) overlap with MBG's SME financing mandate.
• European Investment Fund (EIF): The EU's fund-of-funds and SME financing vehicle. While not a state-level peer, EIF's regional fund-of-funds activities (ERP/EIF co-investment) overlap with MBG's mandate and represent a structural counterparty for fund-of-funds mandates.
• KfW Capital: KfW's VC arm, the federal German fund-of-funds that anchors HTGF, coparion, and other German VCs. As KfW backs MBG's counter-guarantees and co-financed the €40M Corona fund, KfW Capital represents the federal-level analog to MBG's public-backed model.
• High-Tech Gründerfonds (HTGF): Germany's largest federal seed-stage VC fund, publicly backed by KfW and the federal government. Active co-investor with MBG/TGFS in Altavo and Medical Decision Alliance, but operates nationwide with much larger ticket sizes (€600K+ initial, up to €3M follow-on).

Direct peers

• Sächsische Beteiligungsgesellschaft (SBG): Another Saxony-based public-backed equity investor providing growth and venture capital to Saxon SMEs. Co-invested with TGFS (managed by MBG) in Peerox GmbH, illustrating overlapping but distinct mandates within the same regional market.
• WMS Wachstumsfonds Mittelstand Sachsen: Saxony's growth-stage Mittelstand fund, initiated by Freistaat Sachsen. MBG has been an LP investor in WMS since its third generation (December 2019). WMS provides growth equity for established SMEs — a direct overlap with MBG's Wachstum & Innovation program.
• Bürgschaftsbank Sachsen (BBS): Sister public-backed institution in Saxony providing guarantee/surety instruments rather than equity. Shares managing directors (Michalow, Laß) with MBG and jointly serves the same SME customer base, making BBS the most operationally intertwined peer.
• bm-t beteiligungsmanagement thüringen: Thuringian state-level PE/VC firm with the same public-backed mandate for SMEs and technology startups. Documented co-investor alongside MBG/TGFS in BIONCaRT GmbH and Altavo GmbH rounds, indicating a Central German regional peer group.
• Mittelständische Beteiligungsgesellschaft Sachsen-Anhalt: The state-level MBG peer in Saxony-Anhalt. Operates the identical public-backed equity participation model for SMEs and startups. MBG Sachsen-Anhalt has already been a documented cross-border co-investment partner with MBG Sachsen on deals such as the hup-si GmbH acquisition.

Regional players

• Bürgschaftsbank Baden-Württemberg: State-level guarantee and equity institution in Baden-Württemberg. Part of Germany's nationwide MBG/Bürgschaftsbank network — same institutional archetype as MBG Sachsen, but serving a different (more industrial/automotive-weighted) geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments12 records

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

Frequently asked questions about Mittelständische Beteiligungsgesellschaft Sachsen - MBG