DISCOVERING FUTURE MARKET DISRUPTORS
Teggwings Fund I provides disruptive science-based entrepreneurs a one stop shop approach and hands-on support from idea to exit.
Initiated by Delft University of Technology (the Netherlands) the Fund encompasses today four leading EuropeanTechnical Universities (in short ‘4-TU EU’) in Aachen (Germany), Zürich (Switzerland) and Milan (Italy).
The Fund has secured proprietary first access/-review to deal flow from the 4-TU EU and continuous scouting via service level agreements. This pipeline has been screened by the 4-TU EU and provides ample investment opportunities.
The Fund’s unique value-add is the ability of the seasoned Team to filter out and support value creation of the most promising disruptive innovative SME opportunities. Companies are supported from inception through to later stage funding rounds, from the Fund’s own resources combined with operational, corporate-, fellow-VC partners and accelerator and scale-up program partners.
Whilst founded out of the four countries the Team has a strong network throughout Europe and is open to new collaborations across the continent. Definitely the ambition for a successor fund.
Team
The seasoned Fund’s team has jointly over 100 years of relevant experience, has completed over 200 deals completed and exited over 40 deals with attractive returns. The team has a balanced mix of entrepreneurial skills and trackrecord and skills and relevant VC & PE execution skills. The ‘magic’ of the team is the ability through all investment phases to ‘filter out’ and identify and support the most attractive investment opportunities. This to be able to narrow the ultimate selection and identification for scale-up ‘money maker’ potential deals pivotal to ensure capturing a top-quartile fund performance. As lead investor or in syndicates with invited specialized funds as partner in accelerated growth.
This approach is unique in the current EU VC environment. It addresses the major challenges of smaller and more specialized funds. The Fund targets ‘top quartile’ returns as per the latest Invest Europe performance benchmark of 2019
Sector and stage
Teggwings invests in companies evolving from academic research throughout Europe. We focus on the five investment areas:
Teggwings Fund I is a multi-stage Fund, with a unique ‘integrated approach’ from early stage, -growth to scale-up (Series A-C); continuous improvement, multiple stages of ‘filtering out’ (de-risking) the most promising ventures .
Tickets range from as little as €50k in our pre-seed/pre-incorporation activities (exclusive for the founder universities, ca 5% of total capital), through Seed (avg €1m ticket, ca 15% of total capital), Series A (avg €4m, ca 35% of total capital), Series B (avg €7m, ca 25% of total capital) to Series C (avg €10m, 20% of total capital).
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Fund size
Target €350M, hard cap €500M 1st close 2021 target €100M
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Legal structure
Dutch Cooperative with excluded liability under Dutch law. The Fund Manager AIFMD licensed and subject to supervision by Dutch financial supervisors AFM and DNB.
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Ticket size
€1M Corporates & Family Offices, € 10M Institutional- and €25M Cornerstone Investors
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Tenor
5 year investment period, 7 year management period, discretionary extension by the Fund Manager
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Fees
2% on committed capital during investment period 2% on invested capital thereafter 1% of fund size establishment costs capped at €2m
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Carried interest
20% split with 4 TU-EU, the Team and Cornerstone investors
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Target return
Top quartile as per the performance benchmark 2019 report of Invest Europe
