GRUENDELPARTNER advises TGFS on seed financing of CYNiO

Technologiegründerfonds Sachsen (TGFS) is investing over 2 million euros in CYNiO GmbH as part of a seed financing programme together with IBG Innovationsfonds.

CYNiO is revolutionising the production of isocyanates with a patented, CO₂-based technology that does not require the highly toxic phosgene. This innovation enables the flexible and safe production of even small batches of specialised isocyanates, which serve as important building blocks in numerous products such as medicines, adhesives, coatings and foams and are therefore essential for the pharmaceutical, agricultural and construction industries, among others.

The TGFS is an equity capital partner in Saxony for the seed and start-up phase. The fund was first launched in 2008 by the Free State of Saxony and Saxon financial institutions and has supported over 100 start-ups since then. The TGFS entered its third fund generation in 2023.

The IBG Innovation Funds, based in Magdeburg, are the venture capital funds of the state of Saxony-Anhalt. They support young, innovative technology companies with above-average growth potential and based in Saxony-Anhalt with equity capital in the seed, early stage and growth phases. The IBG innovation funds are managed by bmp Ventures AG.

GRUENDELPARTNER provided comprehensive legal advice to TGFS in connection with the financing round.

GRUENDELPARTNER's M&A, Venture Capital, Private Equity practice group is one of the most experienced and best-staffed advisory units in Central Germany and supports investors and entrepreneurs in all phases of development, in particular in company formation, company development, corporate financing and all exit processes.