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.
MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg is a Stuttgart venture capital firm with €224M AUM, 20 active companies and 3 exits.
- ·Average hold across 3 realized deals: 5 years.
- ·Fund cadence: ~4Y between vintages · last raise 2022.
Sector breakdown
23 companiesKey facts
Recent exits
MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg sold sevDesk to Cegid in 2025 after 8 years.
MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg sold Babybe to Natus Medical in 2020 after 5 years.
MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg sold Emerging Implant Technologies to Johnson & Johnson in 2018 after 2 years.
Coverage notes
3 funds tracked, 23 portfolio companies (20 active · 3 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg has raised, with its portfolio companies. Hand-checked from public filings.
Start-up BW Seed FondsVC2022€13M8 assetsVC2022 · 4yr€13M8–
Unrealized
8 held| Company | Entry |
|---|---|
| Atmos Space Cargo Aerospace & Defence · Germany | 2024 |
| Heidelberg Epignostix HealthTech · Germany | 2024 |
| iLARIZ Industrials · Germany | 2024 |
| ISPTech Aerospace & Defence · Germany | 2026 |
| Pionix Mobility · Germany | 2025 |
| Pluvion Software · Germany | 2024 |
| Toolify Robotics (XITO) Germany | 2024 |
| Validaitor Software · Germany | 2025 |
Start-up BW Innovation FondsVC2021€45M12 assetsVC2021 · 5yr€45M12–
Unrealized
12 held| Company | Entry |
|---|---|
| Azowo Mobility · Germany | 2022 |
| become.1 SaaS · Germany | 2024 |
| Build.One DevTools · Germany | 2024 |
| DearEmployee HR Tech · Germany | 2023 |
| Enzo Germany | 2025 |
| happyhotel SaaS · Germany | 2023 |
| HyImpulse Technologies Deep Tech · Germany | 2025 |
| Inovedis MedTech · Germany | 2021 |
| LICIT Solutions Biotech · Germany | 2025 |
| Loady Logistics · Germany | 2024 |
| PartsCloud Logistics · Germany | 2025 |
| yasp AI/ML · Germany | 2025 |
VC Fonds Baden-WuerttembergVC2014€10M0 assets3 exitsVC2014 · 12yr€10M03
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Babybe MedTech · Germany | 2015 | 2020 | Trade Sale | Natus Medical | – |
| Emerging Implant Technologies MedTech · Germany | 2016 | 2018 | Trade Sale | Johnson & Johnson | – |
| sevDesk SaaS · Germany | 2017 | 2025 | Trade Sale | Cegid | – |
Frequently asked questions
- What investment strategy does MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg focus on?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg focuses on VC, Growth strategies in the private equity space.
- How many portfolio companies does MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg have?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg has 20 active portfolio companies and 3 completed exits and 3 funds tracked on GP Intel.
- Where is MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg headquartered?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg is headquartered in Stuttgart, Germany.
- What is MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg's assets under management?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg manages approximately €224M in assets under management.
- When was MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg founded?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg was founded in 1971.
- What sectors does MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg invest in?
- MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg invests across Software, Healthcare, Industrials, TMT.
- What are MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg's recent exits?
- Recent realized exits by MBG Mittelstaendische Beteiligungsgesellschaft Baden-Wuerttemberg include: sevDesk (2025) to Cegid; Babybe (2020) to Natus Medical; Emerging Implant Technologies (2018) to Johnson & Johnson.
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