ROCK THE KASBOSCH! GERMAN BOSCH VENTURE SECURES A NEW $295 MILLION VC FUND
As startups across geographies double down in their efforts irrespective of the current economic climate, however, a German firm Bosch venture is equally not relenting in its mission having secured its fifth fund, noting that it’s on the lookout for startups with the “potential to improve quality of life and conserve natural resources”.
The fresh fund, $295 million which is also viewed as an investment vehicle ups the stakes from the subject startup’s previous fund by about $53 million, yet Bosch’s VC global focus on deep tech is believed to be much the same. To be precise, Bosch’s nebulous category includes everything that cut across autonomous vehicles to internet-of-things platforms.
In addition to that, it’s understood climate tech is also on the firm’s radar – that includes solar, alternative fuels, and carbon capture, according to the firm’s managing director ‘Ingo Ramesohl’, the source familiar with the matter has confirmed. It’s also worth noting that Bosch venture actually backs startups at Series A and B stage, with investment in the region of about $27 million apiece.
When placed side-by-side with the firm’s parent company, a 135-year-old conglomerate, Bosch VC is run by a relatively small team that entails 22 investment managers. Although, this number is set to grow, according to the firm’s managing director, with the pending launch of a new U.S. office in Boston. Ramesolhl also added that the East Coast office is coming “very soon, basically next week”. And will exist alongside Bosch VC’s office in Sunnyvale, CA.
As part of the firm’s further step in backing climate-tech startups, Bosch recently made clear it would drop about $3.5 billion to develop “climate-neutral” tech and will include hydrogen electrolyzers, vehicle electrification coupled with heat pumps.
German startups have really been busy this season notably within the EU markets, and a good sign of the subject market.
- What more do we know!
Be the first to comment