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 Thürin­gens 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 Thürin­gens 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; were look­ing for­ward to an even bet­ter next 20 with you!

Your bm|t Team

Follow-on Investments

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 com­panys 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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