The lion's share of the record distributions resulted from investments in the biotech company BioNTech. MIG generated €600 million for its investors last year from share sales of the company, which suddenly rose to global renown thanks to its coronavirus vaccine. Several MIG funds were among the initial investors in BioNTech, which was listed on the Nasdaq in October 2019. At the end of 2020, distributions totaling €900 million were offset by investments of almost €600 million in over 40 young deeptech and biotech companies.
MIG funds invested 46 million euros last year
Michael Motschmann, General Partner of MIG AG, says:
"The outstanding performance of Biontech and its founders Dr. Özlem Türeci and Prof. Ugur Sahin in the development, production, and commercialization of the first approved vaccine against Covid-19 also resulted in a very positive performance of Biontech SE's share price. We took advantage of this to realize significant profits for our investors through partial exits."
New investments in 2020 include participation in a Temedica's B-round financing6 million euros of the total 17 million euros of financing came from various Munich-based funds. Overall, the investor's portfolio companies completed financing rounds with a total volume of over 170 million euros last year. 46 million euros came from the MIG funds alone.
