DGAP-News: MIG CAPITAL AG / Key word(s): Annual results
MIG Capital continues to grow after an excellent 2021 financial year
27.04.2022 / 10:00
The issuer is solely responsible for the content of this announcement.

Press release

MIG Capital continues to grow after an excellent 2021 financial year

  • After high payouts in 2021, total payouts to MIG investors since founding exceed the EUR 1 billion threshold for the first time.

  • Successful exit of intensive care company Hemovent

  • Expanded portfolio with investments in Zadient Technologies, Creative Balloons, iOmx and Mimi Hearing

  • MIG Fund has invested a total of €55 million in new and existing portfolio companies in 2021

  • MIG Fonds 16 closed with record results at the end of 2021

  • With new releases, progression of portfolio companies, new investments and the placement of MIG Fund 17, the success story of the past few years should continue.

Munich, April 27, 2022

MIG Capital AG, one of Germany’s leading venture capital firms, and its funds (MIG Fonds) have had another excellent year. Over the past year, a total of €172.5 million has been distributed to MIG investors from the sale of investments. This strong performance was again driven by BioNTech, but also by the successful sale of the holding company Hemovent to MicroPort Surgical BV for a total price of up to 123 million euros. Total disbursements since the creation of the first MIG Fund have thus increased to approximately 1.1 billion euros.

Michael Motschmann, General Partner of MIG Capital AGnoted: “Thanks to the strong performance of our portfolio, investors in several MIG funds were again able to benefit from substantial payouts. A significant contribution to this came from the sale of our stake in BioNTech. Many MIG investors participated to the huge success of this company through the MIG funds and were among the first investors in BioNTech. The progress of our portfolio is also very encouraging, with many operational milestones, successful exits and promising new investments. We are therefore confident to continue our growth trajectory into 2022.”

In fiscal year 2021, MIG Capital AG added new highly innovative companies to its portfolio of managed funds:

  • In February 2021, MIG Fund no. 4, 6 and 16 have invested in the French deep-tech company Zadient Technologies under seed funding. Zadient specializes in the production of silicon carbide (SiC) as a basic element for power semiconductors. This follows MIG’s successful investment in Siltectra, which was sold to Infineon in 2018.

  • Also in February 2021, MIG Fonds 16 made a first investment in the medical technology company creative balloons as part of a €15 million growth financing. Creative Balloons is focused on researching and manufacturing high performance catheters for use in critical care medicine.

  • In October 2021, MIG Capital led a €65m Series B financing of a biotechnology company iOmx therapeutics with MIG Fond 16. The funding will allow iOmx to clinically validate its innovative immuno-oncology target discovery platform.

  • As part of a Series B financing, MIG Fond 16 has made its first investment in Mimi Hearing in December. The €22.5 million seed round was led by MIG Capital. Mimi Hearing develops a technology platform for hearing well-being and audio consumption.

These new investments, together with refinancing rounds in the existing portfolio, brought the total volume invested by MIG Fonds in fiscal year 2021 to around €55 million (previous year: €46 million). . In 2021, MIG Fonds and its co-investors raised a total of approximately €275 million for MIG portfolio companies (previous year: €170 million).

Many MIG portfolio companies have made significant operational and business progress over the past year. In July, Vienna-based AFFiRiS AG sold its portfolio of therapeutic products targeting Parkinson’s disease to Swiss listed company AC Immune SA for US$58.7 million in shares. And in December 2021, AFFiRiS announced a licensing agreement for its PCSK9 program for the treatment of hypercholesterolemia with China-based biotech company Frontier Biotech, which will further develop and commercialize this program in Greater China.

IQM Finland OY was able to open its first quantum computer manufacturing facility in Finland in 2021. Additionally, an important milestone on the way to a 54-qubit quantum computer has been achieved with an industry-ready 5-qubit quantum computer. ‘job. The German-Finnish company also receives funding of more than 40 million euros from the German Federal Ministry of Education and Research for the advancement of quantum computing technology in Germany. Led by IQM, the project will integrate a quantum computer into the Leibniz Computing Center (LRZ) of the Bavarian Academy of Sciences.

Fundraising for the new MIG Fonds 16 closed at the end of the year at around 148 million euros. In 2021 alone, German and Austrian investors decided to invest 110 million euros. Since 2005, the 16 MIG funds to date have thus raised 1.2 billion euros to invest in new innovative companies in deep tech and life sciences. MIG Fund 17, which is part of MIG’s proven investment strategy, has been approved by the German Federal Financial Supervisory Authority (BaFin) and fundraising has begun.

Michael Motschmann for the current year: “We anticipate strong deal flow in 2022 and remain committed to our strategic focus on young innovation leaders with breakthrough products based on cutting-edge technology and a compelling management team. The strong performance of many portfolio companies, which are now reaching more advanced stages, opens up attractive exit prospects. Finally, the vast expertise of our team, which includes engineers, physicists, biologists and lawyers, gives us a significant advantage in analyzing and evaluating companies in the biotech and deep tech sectors.Most importantly, we can identify outstanding companies that combine the two.Our experience with unicorn BioNTech and other successful companies in our portfolio shows that convergent business models that combine two or more technologies into something truly innovative is the key to successful investment decisions. “

About MIG Capital AG

MIG Capital AG (formerly MIG Verwaltungs AG) is one of Germany’s leading venture capital investors. MIG invests through the MIG Fund in high-tech and life science start-ups in German-speaking Europe and beyond. The company has so far invested more than 650 million euros in around 50 companies. MIG’s portfolio companies develop innovations in areas such as biopharmaceuticals, artificial intelligence/machine learning, quantum technologies, digitization/IoT, precision medicine and digital health. MIG’s investment portfolio currently includes 30 companies.

MIG’s investment team consists of a committed group of experts made up of engineers, biologists, scientists and investors who use analytical and creative processes to assess the risks and opportunities of business models and technologies. Their reputation, experience and network provide excellent access to companies, institutions and decision makers to support the growth of their portfolio companies.

In recent years, MIG Capital AG has completed more than ten successful sales, including most recently portfolio companies Siltectra (to Infineon, 2018) and Hemovent (to MicroPort, 2021) and led BRAIN (in 2017), NFON (in 2018 ), BioNTech (in 2019) and Immatics (in 2020) to IPOs.

For more information, please see: www.mig.ag, www.mig-fonds.de

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