MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg
MBG Baden-Wuerttemberg is a public-interest mid-market investor for Baden-Wuerttemberg SMEs, providing silent partnerships (stille Beteiligungen) plus an open-equity (offene Beteiligung) venture book. It manages the state-backed VC vehicles VC Fonds BW, Start-up BW Innovation Fonds and Start-up BW Seed Fonds, taking minority equity stakes in high-tech startups across software, medtech, industrial innovation and deep tech, and acts as fund manager and parallel co-investor.
Key facts
Recent exits
Coverage notes
3 funds tracked, 13 portfolio companies (10 active · 3 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
13 companiesFunds & portfolio
Every fund MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg has raised, with its portfolio companies. Hand-checked from public filings.
Start-up BW Seed FondsVC2022 · 4yr€13M3 active
Unrealized
3 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Deep Tech |  Germany | 2024 | |
| Industrials | Germany | 2024 | |
| Software | Germany | 2024 |
Germany· Entry 2024Germany· Entry 2024Germany· Entry 2024Start-up BW Innovation FondsVC2021 · 5yr€45M7 active
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Mobility | Germany | 2022 | |
| Software | Germany | 2024 | |
| Software | Germany | 2024 | |
| Software | Germany | 2023 | |
| Software | Germany | 2023 | |
| Deep Tech | Germany | 2025 | |
| Logistics | Germany | 2024 |
Germany· Entry 2022Germany· Entry 2024Germany· Entry 2024Germany· Entry 2023Germany· Entry 2023Germany· Entry 2025Germany· Entry 2024VC Fonds Baden-WuerttembergVC2014 · 12yr€10M0 active · 3 realized
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| MedTech | Germany | 2015 | 2020 | Trade Sale | – | ||
| MedTech | Germany | 2016 | 2018 | Trade Sale | – | ||
| Software | Germany | 2017 | 2025 | Trade Sale | – |
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