BayBG Bayerische Beteiligungsgesellschaft
Jointly owned Bavarian MBG (no single controlling parent stated) Mittelständische Beteiligungsgesellschaft owned by commercial banks, the Sparkassen and Genossenschaftsbanken umbrella bodies, LfA Förderbank Bayern, insurers and business associations
Also known as BayBG, Bayerische Beteiligungsgesellschaft mbH, BayBG Bayerische Beteiligungsgesellschaft mbH
Munich-based Bavarian MBG founded in 1969 as a state equity company; €364M of minority, silent and mezzanine participations and VC stakes in Bavarian SMEs and startups (Sept 2025).
Not to be confused with Bayern Kapital (Landshut), the LfA Förderbank Bayern venture subsidiary, with which BayBG co-invests as private mirror partner.
- HEADQUARTERS
- München, Germany
- FOUNDED
- 1969
- AUM
- €364M (2025)
- OUTSIDE CAPITAL
- —
- TEAM LISTED
- 5 people
FOCUS
- STAGES
- SeedSeries ASeries BGrowthBuyout
- SECTORS
- Industrial & ManufacturingSoftware & SaaSHealthTechConsumer & E-commerceClimate & EnergyMobility & Logistics
- ASSET MIX
- Private equityVenture capitalDirect investments
- GEOGRAPHY
- Germany
WHAT IT IS
Government-backed Fund. Public money — a state or EU-backed vehicle investing on behalf of taxpayers, often with policy goals.
ABOUT
BayBG Bayerische Beteiligungsgesellschaft mbH was founded in 1969 as a state equity company to strengthen the Bavarian economy and made its first SME participations in 1972; it took its current name in 2010. It describes itself as an evergreen fund without exit pressure, offering growth, succession (MBO/MBI), turnaround, small-company and venture capital financing to Bavarian companies through minority stakes, silent participations and mezzanine. In the financial year to 30 September 2025 it invested €37.8M in new business, and its portfolio stood at €364M. Its venture unit says it has invested about €200M in more than 80 startups over 25 years, sometimes as private mirror partner of public funds such as Bayern Kapital.
INVESTMENT THESIS
Long-term minority, silent and mezzanine equity for Bavarian Mittelstand companies (growth, succession, capital structure, turnaround) and venture capital for Bavarian startups with first customers and revenue, from late seed to Series B.
PORTFOLIO (82)
- 4 Screen GmbHSoftware & SaaS
- Amepa Process Measurement SystemsIndustrial & Manufacturing
- AMWHealthTech · Exited
- AlfaDocs GmbHHealthTech
- ASCO Maschinenbau GmbHIndustrial & Manufacturing
- Astrum IT GmbHHealthTech
- Automations Robotic GmbHIndustrial & Manufacturing
- Josef Bernbacher & Sohn GmbH & Co. KGConsumer & E-commerce
- BMS Baumaschinenservice e.K.Industrial & Manufacturing
- bredent GroupHealthTech
- BrauKon GmbHConsumer & E-commerce
- Burgis GmbHConsumer & E-commerce
- coin4 Solutions GmbHSoftware & SaaS
- Conxai Technologies GmbHSoftware & SaaS
- CBW College Berufliche Weiterbildung GmbH
- Dcubed GmbHIndustrial & Manufacturing
- Dracoon GmbHSoftware & SaaS · Exited
- designfunktion GmbHConsumer & E-commerce
- Dr. Spiller GmbHHealthTech
- EcoG GmbHMobility & Logistics
- EverReal GmbHSoftware & SaaS
- Ecosoil Holding GmbHClimate & Energy
- Falke Facility Management GmbHIndustrial & Manufacturing
- Fath GmbHIndustrial & Manufacturing · Exited
- Fenecon GmbHClimate & Energy
- Gastfreund GmbHSoftware & SaaS
- ght GmbHMobility & Logistics
- Giesinger Biermanufaktur & Spezialitätenbraugesellschaft mbHConsumer & E-commerce
- Greenwood GroupConsumer & E-commerce
- happybrush GmbHConsumer & E-commerce
- HAIX Schuhe Produktions und Vertriebs GmbHConsumer & E-commerce · Exited
- HAWE Hydraulik SEIndustrial & Manufacturing · Exited
- Heinz Glas GmbHIndustrial & Manufacturing
- hotelbird GmbHSoftware & SaaS
- HUFSCHMIED Zerspanungssysteme GmbHIndustrial & Manufacturing
- hyphen GmbHConsumer & E-commerce
- IDnow GmbHExited
- Franz Kiel GmbHMobility & Logistics
- Klotz GmbHIndustrial & Manufacturing
- Knürr GmbHConsumer & E-commerce
- Lettner Metallbearbeitung GmbH
- medika Medizintechnik GmbH
- Maul Sport GmbH
- mantro GmbH
- Medas factoring GmbH
- MMM Münchener Medizin Mechanik GmbH
- Office Group Holding GmbH
- NeraCare
- Surftown GmbH (O2 Surftown)
- PARAT Technology Group GmbHExited
- Pichler und Strobl GmbH
- Pixel Robotics GmbH
- Plantafood Medical
- Polymold GmbH
- Primavera Life GmbHExited
- Reiser Systemtechnik GmbH
- Rentitnow
- Schneider Marketing GmbH
- SEMAsystems GmbH
- SEP GmbHExited
- Allgäu Skyline Park GmbH
- s.i.g. mbHExited
- Socialhub
- SPiNE
- Stern Metallbau GmbH
- Subra
- Syngenity GmbH
- tado° GmbH
- Talent Rocket GmbH
- Vantis
- Valley IT Group
- Vedes AG
- Vöwa GmbH
- WEMA GmbH
- G. Zwiehoff GmbH
- Wellfit Holding (MySpa)Consumer & E-commerce · since 2026
- SoftfolioSoftware & SaaS · since 2026
- COOLTECIndustrial & Manufacturing · since 2026
- Wiedemann KerzenConsumer & E-commerce · since 2026
- ParkstoryMobility & Logistics · since 2024
- Wenzel GroupIndustrial & Manufacturing
- Wöhner Industries HoldingIndustrial & Manufacturing
TEAM
LINKS
FAQ
BayBG Bayerische Beteiligungsgesellschaft is a government-backed fund based in München, Germany, founded in 1969.
Yes. BayBG Bayerische Beteiligungsgesellschaft invests directly in private companies.
BayBG Bayerische Beteiligungsgesellschaft invests at Seed, Series A, Series B, Growth and Buyout stages in Industrial & Manufacturing, Software & SaaS, HealthTech, Consumer & E-commerce, Climate & Energy and Mobility & Logistics.
BayBG Bayerische Beteiligungsgesellschaft's stated ticket size is €1M–€10M.
Key people at BayBG Bayerische Beteiligungsgesellschaft include Peter Pauli (Managing Director (Spokesman)), Stefan C. Koller (Managing Director (since April 2026)), Andreas Käufl (Managing Director and CFO) and Dr. Bernhard Schwab (Chair of the Supervisory Board).
BayBG Bayerische Beteiligungsgesellschaft's investments include 4 Screen GmbH, Amepa Process Measurement Systems, AMW, AlfaDocs GmbH, ASCO Maschinenbau GmbH, Astrum IT GmbH, Automations Robotic GmbH and Josef Bernbacher & Sohn GmbH & Co. KG, among others.
The most recent publicly reported investment by BayBG Bayerische Beteiligungsgesellschaft is COOLTEC (Silent participation), announced in Sep 2026.