Helaba is investing a total of EUR 5 million into Capnamic Ventures Fund II, a EUR 115 million tech fund that invests in companies with business models characterised by technical innovation, disruptive digital innovation and high growth targets.
In addition to fintechs, the focus is on insurtechs, proptechs (real estate sector) and regtechs (regulatory issues). The fund concentrates on series A finance for companies in Germany, Austria and Switzerland (DACH region).
By making this investment, Helaba is pursuing its goals of identifying innovations in the market and their relevance for the bank's own activities, establishing a network of fintech contacts and, based on this, of jointly creating specific solutions.
In the course of implementing its digital agenda, Helaba has already gained access to young fintech companies in the region thanks to its sponsorship of the “Tech-Quartier” fintech hub in Frankfurt as a Platinum Partner. Helaba's participation in the Capnamic Ventures Fund II provides it with an even more effective route to access the German and European fintech markets. Thomas Groß, Vice-Chairman of Helaba's Board of Managing Directors, comments: “Helaba is now moving even closer towards the fintech start-up universe. We are tapping into technologies and concepts geared to the future in order to provide long-term support to our clients with innovative solutions for the digital age.”
The company managing the fund, Iris Capnamic Management GmbH, is based in Cologne and was established in 2012 by Jörg Binnenbrücker. Today, he manages the company with two additional Managing Partners, both of whom have more than ten years’ experience in venture capital.
The final closing of Capnamic Ventures Fund II was 27 June 2017, when the fund was launched with assets of EUR 115 million. Apart from Helaba, three other companies from the Sparkassen-Finanzgruppe family - Stadtsparkasse Düsseldorf, Kreissparkasse Köln as well as Ostsächsische Sparkasse Dresden - have also participated in the fund, investing a combined EUR 10.5 million.