Leipzig-based venture capital firm Smart Infrastructure Ventures has unveiled its €30 million fund, SIVentures II, following the success of its initial fund. This fund aims to support early-stage startups in AI, IT infrastructure, and energy innovations.
The fund’s strategy involves investing in about 30 startups primarily in the DACH region, with initial investments reaching up to €500k each.
“We have achieved two successful exits, such as the sale of Leipzig’s digital health startup Mentor to US medical tech group ResMed. This significant exit has boosted our SIVentures II fundraising,” says Dirk Frohnert, co-managing director of SIVentures.
Established in 2019, the founding team comprises Björn Bauermeister, a former trader at BNP Paribas, and Dirk Frohnert, an ex-fund manager at JPMorgan, along with investment manager Falk Trietsch.
The SIVentures team boasts over 20 years of investment and entrepreneurship expertise.
SIVentures partners with SpinLab, which runs several accelerator programs in Germany and has a broad partner network.
“As active investors, we provide both capital and serve as proactive sparring partners,” states Björn Bauermeister, co-managing director of SIVentures.
Having surpassed 75% of the €30 million target post the first fund’s close in 2024, the fund management intends to double its size compared to the initial fund.
Notable investments from the first fund include cybersecurity firm Enginsight based in Jena. Their portfolio has generated over 300 jobs in Germany.
The new fund targets B2B startups in pre-Seed and Seed stages, having already made four investments in AI, software development, and enterprise software. Further investments are currently in due diligence.