Equity for founders 
and start-ups in Saxony. 

TGFS is an equity investor for knowledge-based, technology-oriented start-ups in Saxony. It is the leading start-up investor in the federal state and provides teams with capital and management support. TGFS also opens up access to further international investors from the fund’s network.

With the current third generation of funds, €241.2m equity is currently available for the start-up scene in Saxony.

Providing opportunities for founders in Saxony.


Key Points

  • Allocation of fully liable, direct equity
  • Investments between € 0.2m and € 5m (nominal share plus additional payment into the capital reserve)
  • Combination with mezzanine capital possible
  • Support in setting up a company and establishing structures
  • Support in business development with own know-how and strong network

Added Value

  • Support in solving strategic issues
  • Support in setting up and expanding business
  • Access to sector-specific networks
  • Years of VC experience
  • Exchange with other founders from the portfolio

Investment stages

TGFS backs Saxon founders and start-ups from the technology sector from early stages already. Funds are used to accelerate product developments, enable market entries or establish new production facilities. The TGFS team supports portfolio companies with their network, know-how – for example regarding strategic questions – and in follow-on financing rounds.


The seed phase has been successfully completed, the concept shaped, and product or service is ready for launch (given proof of concept). TGFS supports start-ups during their market launch. As TGFS, we also support follow-on financing rounds with up to € 5m of total investment.


This phase holds a higher level of uncertainty for investors, as company and founders are still in the phase of discovery. We also accompany them in this phase if the project convinces us. The funds are used to sharpen their vision in order to reach market readiness. The TGFS team supports this process with its own know-how and broad network. Here, we can draw upon the experience of our 80+ investee companies.


We are looking for founders with a strong sense for growth potential, team competencies, cutting-edge technologies, and a strong will of becoming market leaders in their industry.

We invest in Saxony’s innovators.


We are looking for knowledge-based and technology-oriented ideas.

  • ICT (Software/Industry 4.0/IoT/Big Data Analysis)
  • Semiconductor and microsystems technology
  • Medical technology/health sciences
  • Electronics
  • Sensor technology
  • New materials
  • New media, Cleantech

We support founders and start-ups with headquarters or operations in Saxony.

We focus on the Free State of Saxony.



Our Investors

The TGFS is an initiative of the Free State of Saxony and regional Banks. The first fund was started in 2008. Currently, the TGFS is in its second generation.