Six Dortmund companies set up the first private regional seed fund for venture capital in Germany in 1989.
In a joint initiative with the TechnologieZentrumDortmund, the City of Dortmund and the Dortmund Chamber of Industry and Commerce, six investors - Hoesch AG, VEW AG, Sparkasse Dortmund, the insurance companies Continentale and Signal and the construction company Freundlieb - are providing DM 10 million in venture capital for technology-oriented start-ups in Dortmund.
The savings banks in the region around Dortmund are currently launching VORNvc, a VC fund that not only finances technology-orientated start-ups, but also gives them access to SMEs.
Nico Hemmann, Managing Director of VORNvc Management GmbH and Head of the Sparkasse Dortmund Start-up Centre. Photos: TZDO
"Open to all sectors, the fund focuses on companies with a financing requirement of more than EUR 0.5 million and can invest up to EUR 5 million per portfolio company," explains Nico Hemmann (photo), Managing Director of VORNvc Management GmbH and Head of the Sparkasse Dortmund Start-up Centre.
