bm|t newsletter Q3 2023
This month we are celebrating 20 years of investing as bm|t. Notwithstanding many impressive figures, such as having invested over 500 Mio. EUR in over 200 companies, completing over 500 investment rounds and attracting additional co-investment of over 740 Mio. EUR, we feel like a 20-year-old in many ways: having received an excellent education and having gained valuable early experience, we are eager to take on the world, to advance our learning, and to continue honing our trade of venture capital and private equity investing.
In this Newsletter
Celebrating 20 Years of Investing
Even more profound and meaningful than the above figures, are the core tenets of our operating philosophy which we have developed over the last 20 years.
- Respect and trust are paramount and necessary for success in this business. The best way to gain respect and trust is to respect and trust our valued partners.
- Integrity and transparency in communication is essential for building productive relationships. Clear communication, even about difficult issues, is far superior to the assumption of implicit understanding.
- Collaboration is the ideal way to succeed when investing in longer-term innovations. Working cooperatively together with multiple partners can achieve success far beyond that which is possible when everyone only prioritizes their own goals.
With the learnings of the past 20 years deeply ingrained in our experienced team, we are confident that we, and the entire Thüringen innovation ecosystem are well-prepared for the next 20 years. We clearly sense that the gains of the past 20 years are cumulative, and that our entire ecosystem begins the next 20 years in a much stronger position than when bm|t initially started. The founders with whom we work are better informed of their markets and competitive positioning, our network of co-investors has grown tremendously and includes many repeat investors in Thüringen, and all the relevant players in Thüringen are well-grooved and work together cooperatively and productively to support our innovative companies.
Of course, this strong starting point does not offer complete protection against difficulties, especially in this period of geopolitical strife and increasing economic challenges; however, it does offer us a strong sense of proven purpose, which we know will be instrumental over time. Venture capital and private equity investing are longer-term endeavors which require vision, perspective, patience, and fortitude. Over the long term it is these attributes, not the prevailing temporary conditions, that determine the outcomes. Our mantra at bm|t, and we believe it applies to Thüringen’s entire innovation sector, remains: we can have a large impact on our outcomes, and thus we must give our best.
As bm|t turns 20, we feel especially grateful to be able to play a central role in Thüringen’s innovation landscape and are extremely confident that the next 20 years will bring even more positive developments to our Investee-Partners and Co-Investors and thus to investors in our funds and the entire Thüringen ecosystem.
Thank you to all our valued partners for the amazing last 20 years; we’re looking forward to an even better next 20 with you!
Your bm|t Team
rooom AG offers a complete solution for 3D, Augmented Reality (AR) and Virtual Reality (VR), with which companies and individuals can easily and cost-effectively create, edit, and present individual 3D models and environments online. With this award-winning solution, e‑commerce shops can present their products in 3D and Augmented Reality without losing loading time. In this investment round rooom AG raised over 17 million euros in fresh capital from new investors Marondo and TGFS and existing investors including bm|t. This investment underlines the growing importance of 3D visualizations and metaverse solutions for corporates and allows rooom AG to continue its impressive growth and international expansion. For more details about this breakthrough investment please read the following press release: rooom AG closes financing round of over 17 million euros
oncgnostics’ GynTect test allows women who have tested positive for HPV to quickly gain valuable information regarding the degree of seriousness of their diagnosis. GynTect is able to detect even early stages of the disease by determining certain DNA methylation events which are the first indicators of cancer development. Earlier detection of cancer development allows physicians to treat patients sooner, which can often be lifesaving. Additionally, and very importantly, most HPV infections resolve without progression to cervical cancer, meaning unnecessary operations, treatments, and mental stress can be avoided if it can be demonstrated that an HPV infection has not caused DNA methylation. This mid-seven-figure investment led by a Chinese corporate investor and joined by bm|t is designed to accelerate oncgnostics’ growth in international markets. For more information about this important investment round please read the following press release: Hong Kong firm invests in Jena-based Oncgnostics GmbH
Coachwhisperer GmbH offers the world’s first live communication and monitoring system for coaches and athletes, consisting of an innovative combination of hardware and software that allows coaches to seamlessly communicate with any selection of players during live training while monitoring player vital signs and statistics. Due to the company’s highly-innovative wearable sensors, in many ways Coachwhisperer is a combination of a med-tech company and a sports-tech company. Coachwhisperer will launch shortly in European Football, where the founders possess an excellent network, and will then quickly expand to other sports. The company recently received approval for its product and this near seven-figure round, which was led by bm|t and joined by business angels including a world-class footballer, is focused on market entry.
Investor Days Thüringen 2024 – Save The Date
Fresh off a great IDT 2023, we have already set the dates for IDT 2024 and are looking forward to welcoming all our valued partners and new investors that are looking to discover our highly-attractive investment ecosystem here in Thüringen. Please mark your calendars for the5th and 6th of June 2024 and plan to make a rewarding trip to Erfurt to discover many investment gems.
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