Binder Groesswang has advised Austria Wirtschaftsservice on the launch of its new venture capital fund, AWS Gruenderfonds II, focusing on initial growth investments in innovative and sustainable technologies in Austria.
Austria Wirtschaftsservice is the federal development bank of Austria.
According to Binder Groesswang, “AWS Gruenderfonds II builds on the success of AWS Gruenderfonds I and starts its investment phase with a capital of EUR 72 million. Since 2013, AWS has already invested a total of around EUR 500 million in Austrian start-ups, through AWS Gruenderfonds I together with other co-investors.”
According to the firm, “the fund contributes to the further development of venture capital financing in Austria. It was implemented on the initiative of the Federal Ministry of Labor and Economics as part of the current government program. The venture capital fund is aimed at start-ups in the initial growth phase that specialize in innovative and sustainable technologies.”
The Binder Groesswang team included Partners Thomas Schirmer, Johannes Barbist, and Stefan Frank, Attorney at Law Simona Shpilsky, and Associate Christopher Marchel.