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MIG Fonds 18
Key Statistics
Fund Size
N/A
Target Return
10.4%
Annualized Return
N/A
Launch Year
2024
Min. Investment
€5,000
Availability
Open for public
Structure
German closed-end Investment-KG (Publikums-AIF)
Product Category
Closed-end
Domicile
Germany
GP Type
Single
Liquidity Level
Low (5+ years)
Management Fee
1.23%
Carry
No Erfolgsgebühr at fund level per BIB; a 'Transaktionsgebühr' on gains from exits applies after investor allowances (Ve%
High Water Mark
No
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
No redemptions, 2037 maturity
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Stressed
-4.6%
Moderate
3%
Favorable
10.4%
Average Total Cost Level (KID)
5.14%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Portfolio Composition
Information about fund
Retail Venture Capital with a BioNTech Pedigree
MIG Fonds 18 is the eighteenth venture capital fund of the MIG franchise, the German retail VC programme best known for turning a €13.1 million stake in BioNTech into €763.8 million. It is a German closed-end Investment-KG structured by HMW Kapitalanlagen AG, with MIG Capital AG as investment manager and Hauck Aufhäuser Lampe as custodian, that takes direct minority stakes in 10 to 15 European technology companies across biotech, medtech, digital health, robotics and automation, ICT, and materials and environmental technology. Up to €160 million can be placed.
Key Figures
Placement Target
≤ €160M
Raised to date not disclosed
Portfolio Target
10–15
European tech companies
Minimum
€5,000
+5% agio; €10,000 in Austria
Term
To 2037
31 December 2037
KID
Risk 6/7
Moderate 3%, favourable 10.4%; cost ~5.1%
Manager
MIG Capital
Structured by HMW Kapitalanlagen
Portfolio So Far
The early portfolio shows the typical MIG profile: CoreMedic (minimally invasive heart-valve repair, €3.1 million for a 13.6% stake), ASTRA Therapeutics (antiparasitic drugs, €1.6 million), NcodiN (nanolasers on silicon, €1.0 million) and Luffy AI (autonomous systems). MIG co-invests alongside international VC firms and family offices and holds until an IPO or trade sale, so for a fund started in 2024 the term to 31 December 2037 should be taken literally.
Early Investments
| CoreMedic | Minimally invasive heart-valve repair — €3.08m, 13.56% stake |
| ASTRA Therapeutics | Antiparasitic treatments — €1.62m |
| NcodiN | Nanolasers on silicon — €1.0m |
| Luffy AI | Machine learning for autonomous systems |
Terms and Risk
Minimums are €5,000 in Germany and €10,000 in Austria, in each case plus a 5% agio, or €18,000 in six annual instalments under the capital-call model. The KID puts the fund in risk class 6 of 7 with total costs of about 5.1% a year, a moderate scenario of 3% and a favourable one of 10.4%. Venture returns are lumpy: MIG’s history includes both BioNTech and a long list of write-offs, and any single fund’s outcome depends on one or two winners.
Deepdive & Related Funds
MIG Fonds 18: VC Access With Direct Company Exposure
MIG Fonds 18 offers something different: real venture capital exposure for retail investors, without layering in fund-of-funds complexity.
iVC Venture Innovation Fund
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