26.06.2023
aws Gründungsfonds II, the new venture capital company founded by Austria Wirtschaftsservice Gesellschaft mbH (aws), is based on the success of aws Gründungsfonds I and is starting its investment phase with equity capital of EUR 72 million. Since 2013, aws has invested a total of some EUR 500 million in Austrian start-ups through aws Gründungsfonds I, in cooperation with other investors.
“aws Gründungsfonds II is an important step in meeting the backlog of demand in the Austrian risk capital market. Particularly in the area of sustainability and digitalization, these investments are vital to the advancement of Europe’s competitiveness and transformation. With the new venture capital company, Austrian start-ups can find and profit from solutions to the urgent problems of our time,” says Binder Grösswang partner Thomas Schirmer.
Investment in innovative technologies, sustainability and digitalization
aws Gründungsfonds II will contribute to the further development of risk capital finance in Austria. It was established on the initiative of the Austrian Federal Ministry of Labour and Economy within the framework of the current government program. The venture capital fund is aimed at start-ups in the first phase of growth that specialize in innovative and sustainable technologies.
The previous fund of this type has already mobilized some EUR 500 million in private capital from European and international investments for Austrian start-ups. Half of the international co-investors invested in an Austrian company for the first time through this fund.
aws Gründungsfonds II builds on this broad success and offers long-term growth capital. It is structured as is customary in the industry and facilitates open or silent participations on fair terms. Moreover, it is open to co-investments. The original investment volume can be as high as EUR 1.5 million, with the possibility of increases to a maximum of EUR 5 million through follow-on investments.
Binder Grösswang advised aws on all legal matters involved in the establishment of aws Gründungsfonds II as its second venture-capital and start-up fund in the legal form of a GmbH & Co KG. The team supported aws regarding questions of company law and with the contractual documentation for the successful founding of the fund, as well as on complex issues associated with government subsidies. The fund is the second of its type ever established in Austria, and will support innovative companies in the early growth phase.
The Binder Grösswang team, led by partner Thomas Schirmer (corporate/M&A), included Johannes Barbist (partner, regulatory law), Stefan Frank (partner, banking & finance), Simona Shpilsky (attorney, corporate/M&A) and Christopher Marchel (associate, corporate/M&A).
Austria Wirtschaftsservice GmbH (aws)
Austria Wirtschaftsservice GmbH (aws) is the promotional bank of the Austrian government. By providing low-interest loans, guarantees, subsidies and equity capital, it supports companies in the implementation of their innovative projects, from the first idea through to market success. aws also advises and supports companies in connection with the protection and exploitation of intellectual property rights. In addition, aws provides specific informational, advisory and other services for new, existing and expanding companies.
aws Gründungsfonds II
aws Gründungsfonds II is an Austrian venture-capital company with an investment volume of approximately EUR 72 million. The investment focus is on Austrian start-ups with a high growth potential for seed and follow-on financing in the start-up and early growth phase. aws Gründungsfonds II places a special focus on green and digital winners. Co-investors from an international network are actively involved.
aws Gründungsfonds II has been conceived as a long-term, stable partner and offers entrepreneurial venture capital with active support.