# Wachstumsfonds Bayern

> Wachstumsfonds Bayern is a VC fund in München backing Medical, Software and Electronics. See 9 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: München, Germany
- Total investments: 9
- Last investment: Feb 2023
- Lead investor: 33%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/stmwi/?originalSubdomain=in
- Website: https://www.stmwi.bayern.de
- Facebook: https://www.facebook.com/bayern

Wachstumsfonds Bayern is a venture capital fund that provides equity capital for growth financing to SMEs.It serves private venture capital companies as a neutral co-investment partner for growth financing. The fund's financing enables innovative start-ups to receive more and larger funding, helping them take further growth steps, such asentering new sales markets. It is open to open to innovative, technology, and growth-oriented companies in all industries, regardless of whether external investors are already involved. A general requirement for participation by the BWachstumsfonds Bayern is that the technology company has a successful business model, has successfully completed the seed phase, and the first startup phase and wants to expand. The successfully completed seed and first startup phase may have been financed by external investors or by the founder/cash flow.The firm was founded in München, Bayern.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Medical | 3 | 33% |
| Software | 2 | 22% |
| Electronics | 2 | 22% |
| Health Care | 2 | 22% |
| Therapeutics | 2 | 22% |

18 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 2 | 22% |
| Series D | 2 | 22% |
| Funding Round | 2 | 22% |
| Series A | 1 | 11% |
| Series C | 1 | 11% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| enmacc | enmacc is Europe’s fastest growing digital, OTC energy trading platform. Our platform digitalises the end-to-end professional energy trading process. Using enmacc allows participants to gain speed, efficiency and security when trading in energy markets. More than 340 companies, with over 1.600 active traders, are already taking advantage of enmaccand are utilising our continuously growing network of energy suppliers, industrial companies, energy trading houses and municipal utilities for trading in power & gas. All of our clients can benefit from increased market access, additional liquidity and other business development opportunities. enmacc customers can use three different trading screens: entender (sales trading) & entender pro (professional trading) – the world-leading Request-For-Quote (RFQ) technology for energy markets; enmarket – the OTC price screen and marketplace for one-click trading; and engreen – the state-of-the-art trading screen for Guarantees of Origin (GoOs). Complete documentation and audit-proof archiving of all trading activities on the platform take place automatically. The real-time credit check guarantees secure trading and processes for all participants. Complete documentation and audit-proof archiving of all trading activities on the platform take place automatically. The real-time credit check guarantees secure trading and processes for all participants. We do everything we can to make the daily work of energy traders and portfolio managers easier by enabling them to focus on the things that really matter. |  | Series B | Feb 08, 2023 |  |
| iThera Medical | iThera Medical offers access to innovative technology and know-how in photonic molecular imaging. The company was founded in 2010, as a spin-off from the Helmholtz Zentrum Muenchen, the German Research Center for Environmental Health (HMGU). Together, they pursue the further development of proprietary MSOT technology for use in preclinical andclinical applications. | $14.3M |  | Dec 21, 2022 |  |
| iThera Medical | iThera Medical offers access to innovative technology and know-how in photonic molecular imaging. The company was founded in 2010, as a spin-off from the Helmholtz Zentrum Muenchen, the German Research Center for Environmental Health (HMGU). Together, they pursue the further development of proprietary MSOT technology for use in preclinical andclinical applications. | $13.8M | Series D | Dec 21, 2022 |  |
| enmacc | enmacc is Europe’s fastest growing digital, OTC energy trading platform. Our platform digitalises the end-to-end professional energy trading process. Using enmacc allows participants to gain speed, efficiency and security when trading in energy markets. More than 340 companies, with over 1.600 active traders, are already taking advantage of enmaccand are utilising our continuously growing network of energy suppliers, industrial companies, energy trading houses and municipal utilities for trading in power & gas. All of our clients can benefit from increased market access, additional liquidity and other business development opportunities. enmacc customers can use three different trading screens: entender (sales trading) & entender pro (professional trading) – the world-leading Request-For-Quote (RFQ) technology for energy markets; enmarket – the OTC price screen and marketplace for one-click trading; and engreen – the state-of-the-art trading screen for Guarantees of Origin (GoOs). Complete documentation and audit-proof archiving of all trading activities on the platform take place automatically. The real-time credit check guarantees secure trading and processes for all participants. Complete documentation and audit-proof archiving of all trading activities on the platform take place automatically. The real-time credit check guarantees secure trading and processes for all participants. We do everything we can to make the daily work of energy traders and portfolio managers easier by enabling them to focus on the things that really matter. |  | Series B | Sep 28, 2022 |  |
| CatalYm | Catalym develops antibodies against a placental factor which is overexpressed by various tumour types. | $54.9M | Series B | Nov 19, 2020 |  |
| Blickfeld | Blickfeld is a producer of LiDAR sensors and detection software for autonomous mobility and IoT applications. The LiDAR sensors are designed to measure direct distance information in 3D. It is based on patented silicon MEMS mirrors and commercial off-the-shelf components. The company was founded in 2017 and is headquartered in Munich, Germany. |  | Series A | Mar 20, 2020 |  |
| GNA Biosolutions | GNA Biosolutions is a molecular technology company based in Martinsried, Germany. Their breakthrough technology, Pulse Controlled Amplification, transforms molecular testing by combining ultrafast nucleic acid amplification with intrinsic sample prep, to enable powerful solutions for the laboratory, on-site applications and the Point of Care. Theirvision is to bring the power of molecular testing, from sample to answer, to everyone, everywhere. | $13.5M | Series C | Aug 06, 2019 |  |
| Theva | Theva is the market leader in HTS coatings and has been developing flexible coated conductors for electrical power engineering for more than a decade. Thanks to a proprietary, independent technology access and a broad patent portfolio Theva is taking a leading role in coated conductor technology. Theva also develops processes and coatings in thephysical coating technology, e.g. for fuel cells, photovoltaic, and sensors.The equipment manufacturing unit is based on a team of highly experienced professionals. Theva is designing specialized equipment and components for physical coating and is leading in the quality control of superconductor coatings. Theva‘s instruments are setting standards in HTS quality assurance worldwide. |  | Series D | Jun 12, 2018 |  |
| numares HEALTH | numares GmbH is the leading company in commercial NMR-analytics in Europe and a strong partner for its customers. Their team of experts will provide you with any assistance that may be required for optimal results. They offer the full scope of performance of up to date NMR-analytics from one source. Fast, cost efficient and reliable. | $2.2M |  | Aug 08, 2016 |  |

9 of 9 investments shown.

## Co-investors
- [Fluxunit - Osram Ventures](https://shizune.co/investors/profile/fluxunit-osram-ventures) — VC Fund, 3 deals together
- [Mey Capital Matrix](https://shizune.co/investors/profile/mey-capital-matrix) — VC Fund, 3 deals together
- [OCCIDENT](https://shizune.co/investors/profile/occident-group) — VC Fund, 3 deals together
- [10x Group](https://shizune.co/investors/profile/10xgroup) — VC Fund, 2 deals together
- [BayBG Venture Capital](https://shizune.co/investors/profile/baybg) — VC Fund, 2 deals together
- [Falk Strascheg Holding](https://shizune.co/investors/profile/falk-strascheg-holding) — VC Fund, 2 deals together

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## Featured in investor lists
- [Medical Investors in Germany](https://shizune.co/investors/medical-investors-germany)

## FAQ

### What does Wachstumsfonds Bayern invest in?

Wachstumsfonds Bayern invests primarily in Medical, Software and Electronics startups, most often at Series B and Series D stage. Most of the 9 investments tracked by Shizune back companies in Germany. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Wachstumsfonds Bayern last invest?

The most recent investment recorded for Wachstumsfonds Bayern closed in Feb 2023. Shizune tracks 9 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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