MBG Baden Wuerttemberg
Government fundSeed–Growth
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Investment thesis
MBG Baden-Württemberg finances the Mittelstand (SMEs) in Baden-Württemberg across the business lifecycle: startups, succession, and growth. It offers long-term, collateral-free silent and open participations (mezzanine capital) that strengthen a company's economic equity and improve its credit rating, complementing traditional bank loans. In venture capital, it acts as an institutional investor with open participations, backing innovative startups from the seed phase through Series A and beyond via multiple funds managed for institutional investors such as banks, insurers, foundations, and the public sector. Its deep economic network helps portfolio companies accelerate growth.
Source: firm website, verified Sep 27, 2026.
What they invest in
from 4 of 9 portfolio companiesWellness & Fitness ×2Advanced Manufacturing ×1AI & Machine Learning ×1Enterprise Software ×1Fintech ×1HR Tech ×1SaaS ×1Travel & Hospitality ×1
HQs:Germany×3United Kingdom×1
Investments · 9 tracked
founders shown can be your intro pathAxion provides an AI platform that helps manufacturing and enterprise teams detect and solve customer issues in real time to improve product design, reliability, and quality.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareLondon, GB
Daniel First(Founder)in
Co-investorsAmplo VenturesAutomotive Ventures MobilityBessemer Venture PartnersG VenturesInspired CapitalKing River Capital+3 more
DearEmployee offers software for conducting the legally required psychological risk assessment (Gefährdungsbeurteilung psychischer Belastung) under German occupational safety law (§5 ArbSchG), using a scientifically based questionnaire available in over 15 languages.
HR TechSaaSWellness & Fitness
Dr. Amelie Wiedemann(Founder)in
Co-investorsBrandenburg Kapital
The site represents Germany's guarantee banks (Bürgschaftsbanken), providing loan guarantees to support small and medium-sized enterprises in obtaining financing.
FintechBerlin, DE
SCHWARZWALD PANORAMA is a hotel in Bad Herrenalb in Germany's Black Forest offering short breaks, medically guided fasting cures, spa and wellness treatments, and certified organic dining.
Travel & HospitalityWellness & FitnessBad Herrenalb, DE
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AHP Merkle GmbHBurkhardt GmbHHolzhaus FabrikRückgrat-GruppeS&R Eisenmann GmbH
Portfolio news
latest coverage across their companiesAxion · finsmes.com · Dec 16, 2025
Frequently asked questions
- How many investments has MBG Baden Wuerttemberg made?
- MBG Baden Wuerttemberg has 9 tracked investments.
- What stage does MBG Baden Wuerttemberg invest at?
- MBG Baden Wuerttemberg invests at the Seed, Series A, Growth stages.
- What sectors does MBG Baden Wuerttemberg focus on?
- MBG Baden Wuerttemberg focuses on Sector Agnostic.
- Who does MBG Baden Wuerttemberg co-invest with?
- MBG Baden Wuerttemberg most often shares deals with Automotive Ventures Mobility, Bessemer Venture Partners, Inspired Capital, among 8 tracked co-investors.
Images
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