VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 9 SOURCES

MIG Capital

Also known as MIG Capital AG, MIG Fonds, MIG AG

Munich VC (2004) managing 17 retail-funded MIG Fonds; EUR 1.2bn committed, ~EUR 800m invested in ~60 deep-tech and life-science start-ups; BioNTech and IQM backer.

Munich retail VC manager of the MIG Fonds; not Matignon Investissement et Gestion (MIG, France).

HEADQUARTERS: München, Germany
FOUNDED: 2004
AUM: €1.2B (2026)
OUTSIDE CAPITAL: Yes
TEAM LISTED: 13 people

Focus

STAGES: SeedSeries ASeries BGrowth
SECTORS: Biotech & Life Sciences Deep Tech HealthTech Climate & Energy Software & SaaS Industrial & Manufacturing
ASSET MIX: Venture capital
GEOGRAPHY: GermanyAustriaSwitzerlandEurope

Overview

MIG Capital AG is a Munich venture capital firm, active since 2004, that invests through the MIG Fonds in young deep-tech and life-sciences companies in German-speaking Europe and beyond. It describes itself as Germany's only retail VC investor: its funds are publicly offered and financed 100% by private investors. By end-2025 the MIG Fonds had invested around EUR 800m in about 60 companies, with more than 30 active holdings, and the firm reports EUR 1.2bn of committed capital across 17 funds. Exits include IPOs of BRAIN, NFON, BioNTech and Immatics and trade sales such as Siltectra to Infineon and Hemovent to MicroPort.

Investment thesis

Seed to expansion-stage minority investments via the MIG Fonds in European deep-tech (advanced computing, digitalisation/IoT, energy & environment, new materials) and life sciences (biopharmaceuticals, medtech, digital health), with typical ticket around EUR 1m per the website.

PORTFOLIO (60)

AMSilkNOTABLE
Industrial & Manufacturing
BioNTechNOTABLE
Biotech & Life Sciences · IPO
ImmaticsNOTABLE
Biotech & Life Sciences · IPO
IQMNOTABLE
Deep Tech · IPO
KONUXNOTABLE
Software & SaaS
Look Up SpaceNOTABLE
Space
NavVisNOTABLE
Software & SaaS
NFONNOTABLE
Software & SaaS · IPO
advanceCOR
Biotech & Life Sciences · Exited
Creative Balloons (Advanced Medical Balloons)
HealthTech · Exited
AFFiRiS
Biotech & Life Sciences
AIRID
Software & SaaS · Exited
APK
Climate & Energy · Exited
ASTRA Therapeutics
Biotech & Life Sciences
biocrates
HealthTech · Exited
BRAIN Biotech
Biotech & Life Sciences · IPO
cerbomed
HealthTech · Exited
CoreMedic
Biotech & Life Sciences
Corimmun
Biotech & Life Sciences · Exited
cynora
Deep Tech · Exited
Efficient Energy
Climate & Energy · Exited
ERFIS
Climate & Energy · Exited
etkon
Software & SaaS · Exited
FutureCarbon
Climate & Energy · Exited
Ganymed Pharmaceuticals
Biotech & Life Sciences · Exited
German Bionic
Software & SaaS · Exited
GlassPoint
Climate & Energy
HawkCell
HealthTech
Hemovent
HealthTech · Exited
GWA Hygiene
HealthTech
Ident Technology
Software & SaaS · Exited
Inbolt
Artificial Intelligence
Innatera
Deep Tech
instrAction
Climate & Energy
iOmx Therapeutics
Biotech & Life Sciences
Isarna Therapeutics
Biotech & Life Sciences
Kewazo
Software & SaaS
Liva Healthcare
HealthTech
Luffy AI
Artificial Intelligence
LXP Group
Climate & Energy · Exited
mbiomics
Biotech & Life Sciences
Mimi Hearing Technologies
HealthTech
NcodiN
Biotech & Life Sciences
NeraCare
HealthTech
Nexigen
Biotech & Life Sciences · Exited
November
Software & SaaS
odos
HealthTech
PDC Biological Health Group
Biotech & Life Sciences · Exited
Protagen
Biotech & Life Sciences · Exited
SciRhom
Biotech & Life Sciences · since 2024
Siltectra
Deep Tech · Exited
Sovicell
Biotech & Life Sciences · Exited
Sunhill Technologies
Software & SaaS · Exited
Suppremol
Biotech & Life Sciences · Exited
Talpa Solutions
Software & SaaS
Temedica
HealthTech
TIBEAY Biosciences
Biotech & Life Sciences
ViroLogik
Biotech & Life Sciences · Exited
wealthpilot
Fintech · Exited
Zadient Technologies
Industrial & Manufacturing

People

Michael Motschmann
Managing Partner; Management Board (Vorstand) · source
Dr. Matthias Kromayer
Managing Partner; Management Board (Vorstand) · source
Jürgen Kosch
Managing Partner; Management Board (Vorstand) · source
Kristian Schmidt-Garve, LL.M.
Managing Partner; Management Board (Vorstand) · source
Andreas Kastenbauer
Partner · source
Dr. Oliver Kahl
Partner · source
Matthias Guth
Venture Partner · source
Dr. Nicolas Rose-André
Principal (Deep Tech) · source
Dr. Fei Tian
Principal · source
Frederick Michna
Principal · source
Christina Vogt-Sasse
Senior Associate · source
Cecilia Pontini
Co-Head of Finance & Controlling · source
Gero Fiedler
Co-Head of Finance & Controlling · source

Frequently asked questions

MIG Capital is a VC fund based in München, Germany, founded in 2004.

Yes. MIG Capital invests its own capital in private companies.

MIG Capital invests at Seed, Series A, Series B and Growth stages in Biotech & Life Sciences, Deep Tech, HealthTech, Climate & Energy, Software & SaaS and Industrial & Manufacturing.

Key people at MIG Capital include Michael Motschmann (Managing Partner; Management Board (Vorstand)), Dr. Matthias Kromayer (Managing Partner; Management Board (Vorstand)), Jürgen Kosch (Managing Partner; Management Board (Vorstand)) and Kristian Schmidt-Garve, LL.M. (Managing Partner; Management Board (Vorstand)).

MIG Capital's investments include AMSilk, BioNTech, Immatics, IQM, KONUX, Look Up Space, NavVis and NFON, among others.

The most recent publicly reported investment by MIG Capital is Luffy AI (Series A, GBP 8.1m (led by BGF; MIG Fonds 2, 6 and 18 invested GBP 1.5m)), announced in Jul 2026.

Yes. MIG Capital manages capital from outside investors.