[{"data":1,"prerenderedAt":182},["ShallowReactive",2],{"story-baybg/news/baybg-investiert-bayern-mittelstand-startups-2026/-en":3},{"story":4,"cv":179,"rels":180,"links":181},{"name":5,"created_at":6,"published_at":7,"updated_at":8,"id":9,"uuid":10,"content":11,"slug":164,"full_slug":165,"sort_by_date":26,"position":166,"tag_list":167,"is_startpage":141,"parent_id":168,"meta_data":26,"group_id":169,"first_published_at":7,"release_id":170,"lang":171,"path":26,"alternates":172,"default_full_slug":176,"translated_slugs":177},"baybg investiert bayern mittelstand startups 2026","2026-04-13T12:13:41.281Z","2026-04-17T08:06:47.601Z","2026-04-17T08:06:47.623Z",165448995999229,"a6ecb73d-5021-4cdf-8589-38238f47a9eb",{"_uid":12,"body":13,"date":142,"author":139,"noindex":141,"component":143,"link_label":144,"meta_title":145,"tag_select":146,"teaser_media":147,"teaser_title":153,"meta_og_image":154,"meta_og_title":139,"meta_description":156,"hide_in_navigation":157,"meta_twitter_image":158,"meta_twitter_title":139,"teaser_description":153,"meta_og_description":139,"duplicated_content_from":160,"meta_twitter_description":139},"3953a229-a048-48ae-8072-70a2b69733fd",[14],{"_uid":15,"items":16,"layout":138,"anchor_id":139,"component":140,"items_direction_rtl":141},"38f6be43-49cd-4c31-b788-838d0538d8a0",[17],{"_uid":18,"text":19,"buttons":133,"position":134,"alignment":135,"component":136,"max_text_width":137},"cd056c46-e9b1-4de6-918a-955d347da2a7",{"type":20,"content":21},"doc",[22,31,39,84,95,119],{"type":23,"attrs":24,"content":27},"heading",{"level":25,"textAlign":26},1,null,[28],{"text":29,"type":30},"BayBG invests €37.8 million in SMEs and startups in Bavaria","text",{"type":23,"attrs":32,"content":34},{"level":33,"textAlign":26},5,[35,37],{"type":36},"hard_break",{"text":38,"type":30},"Challenging market environment shapes financial year 2024/25",{"type":40,"attrs":41,"content":42},"paragraph",{"textAlign":26},[43,48,49,50,52,53,54,56,57,58,60,61,62,64,65,66,68,69,70,72,73,74,76,77,78,80,81,82],{"text":44,"type":30,"marks":45},"Munich, April 17, 2026. The 2024/25 financial year was strongly influenced by geopolitical risks as well as challenging economic and structural conditions in Germany. Despite this difficult environment, BayBG achieved a solid level of new business totalling €37.8 million (previous year: €45 million). Exits of €8.5 million and largely scheduled repayments of €20.6 million resulted in a total investment portfolio of €364 million as of September 30, 2025 (previous year: €382.4 million).",[46],{"type":47},"bold",{"type":36},{"type":36},{"text":51,"type":30},"“The continued weak economic development in Germany and Bavaria, combined with a pronounced reluctance to invest—particularly among SMEs—had a noticeable impact on our new business,” says BayBG Managing Director Peter Pauli. “Against this backdrop, we achieved a solid result, even though we would have preferred to see more dynamic growth.”",{"type":36},{"type":36},{"text":55,"type":30},"This investment restraint is particularly evident in BayBG’s traditionally strongest segment, SME/growth financing, where investments declined from €22 million in the previous year to around €12.8 million. In addition to cyclical challenges, many sectors are currently facing structural pressures. Following several years of crises, liquidity and earnings positions are often strained, and the resilience of many companies has weakened.",{"type":36},{"type":36},{"text":59,"type":30},"In the other business areas, new business developed more steadily. Investments in succession solutions as well as in venture capital and turnaround situations remained largely in line with expectations. Demand for equity financing solutions remained stable in these segments, although overall volumes declined slightly.",{"type":36},{"type":36},{"text":63,"type":30},"The succession segment invested €9 million (previous year: €10.2 million), while €7.4 million was invested in venture capital (previous year: €7.6 million). The turnaround segment invested €6.5 million in companies in special situations, and €2.1 million was invested in small and young enterprises and start-ups (KJU/EXIS).",{"type":36},{"type":36},{"text":67,"type":30},"“We are seeing a noticeable shift in investment drivers. Growth financing has become less prominent, while succession financing and venture capital currently show encouraging demand and continue to offer attractive investment opportunities,” says Managing Director Peter Herreiner. “Overall, our investments reflect the current environment: fewer expansion-driven growth projects, more special situations and succession cases, and continued momentum in the startup and VC segment.”",{"type":36},{"type":36},{"text":71,"type":30},"At the same time, the market environment placed increased demands on portfolio management. “We would have preferred to see a more positive development on the default side in the past financial year,” Pauli adds. “In the current economic and financing environment, even companies with fundamentally sound business models are finding it difficult to navigate crises and implement necessary transformation processes.” This has led to a rising number of insolvencies at a level that had not been expected—even in light of ongoing structural adjustments.",{"type":36},{"type":36},{"text":75,"type":30},"With new investments totalling €37.8 million, BayBG fell short of its targets for the 2024/25 financial year. “We could have realised more new business,” emphasises Herreiner. “At the same time, we deliberately adhere to our high quality and risk standards. This is a key element of our sustainable business approach.”",{"type":36},{"type":36},{"text":79,"type":30},"The company’s overall stability is also reflected in its risk profile. “Although defaults were significantly higher in the past financial year, the average over the past five crisis years remains at a normal level,” Pauli explains. “This shows that our risk and crisis management approach is fundamentally sound—even in a very challenging environment.”",{"type":36},{"type":36},{"text":83,"type":30},"Looking ahead, the outlook remains cautious but confident. “Economic momentum in Germany and Bavaria continues to be subdued. At the same time, we remain convinced that the region will regain competitiveness,” Pauli concludes. “In the current environment, equity is becoming increasingly important as a financing instrument.”",{"type":40,"attrs":85,"content":86},{"textAlign":26},[87,89,90,91],{"text":88,"type":30},"“Our business model is designed to support companies even in challenging phases,” adds Herreiner. “Through our equity solutions, we make an important contribution to stabilising and further developing the SME sector—and help lay the foundation for future growth.”",{"type":36},{"type":36},{"text":92,"type":30,"marks":93},"About BayBG",[94],{"type":47},{"type":40,"attrs":96,"content":97},{"textAlign":26},[98,100,101,102,104,113,114,115],{"text":99,"type":30},"BayBG Bayerische Beteiligungsgesellschaft mbH has been investing in SMEs and startups in Bavaria since 1972 and, with an investment portfolio of more than €364 million, is one of Germany’s leading equity investment companies. Over the past 50 years, BayBG has financed more than 4,000 companies, supported them in growth phases, contributed to succession solutions and helped navigate special situations.",{"type":36},{"type":36},{"text":103,"type":30},"More information: ",{"text":105,"type":30,"marks":106},"https://www.baybg.de",[107],{"type":108,"attrs":109},"link",{"href":110,"uuid":26,"anchor":26,"target":111,"linktype":112},"https://www.baybg.de/","_new","url",{"type":36},{"type":36},{"text":116,"type":30,"marks":117},"Press Contact",[118],{"type":47},{"type":40,"attrs":120,"content":121},{"textAlign":26},[122,124,125,127,128,130,131],{"text":123,"type":30},"BayBG",{"type":36},{"text":126,"type":30},"Franziska Roederstein",{"type":36},{"text":129,"type":30},"Phone: +49 89 122280-174",{"type":36},{"text":132,"type":30},"Email: franziska.roederstein@baybg.de",[],"top","left","text-section","1920","100","","media-text-section",false,"2026-04-17 00:00","news-page","Read more","BayBG invests 37,8 million euros in Bavarian SMEs and startups – 2026 overview",[],{"id":148,"alt":149,"name":139,"focus":139,"title":139,"source":139,"filename":150,"copyright":139,"fieldtype":151,"meta_data":152,"is_external_url":141},165452377024600,"baybg_geschaeftsfuehrung_2026","https://a.storyblok.com/f/285997904567137/2200x1100/e601fa28cb/baybg_geschaeftsfuehrung_2026.jpg","asset",{"alt":149,"title":139,"source":139,"copyright":139},"BayBG invests 37,8 million euros in Bavarian SMEs and startups, supporting innovation and growth in 2026.",{"id":26,"alt":26,"name":139,"focus":26,"title":26,"source":26,"filename":139,"copyright":26,"fieldtype":151,"meta_data":155},{},"BayBG invests 37,8 million euros in SMEs and startups in Bavaria. Insights into investment focus areas and market development in 2026.",true,{"id":26,"alt":26,"name":139,"focus":26,"title":26,"source":26,"filename":139,"copyright":26,"fieldtype":151,"meta_data":159},{},{"id":139,"url":139,"linktype":161,"fieldtype":162,"cached_url":163,"prep":157},"story","multilink","/en/","baybg-investiert-bayern-mittelstand-startups-2026","en/baybg/news/baybg-investiert-bayern-mittelstand-startups-2026",-270,[],72368807463954,"baca8fff-d816-4cde-80f9-268a99e2e08a","0","en",[173,175],{"full_slug":174},"/de/news/baybg-investiert-bayern-mittelstand-startups-2026/",{"full_slug":174},"baybg/news/baybg-investiert-bayern-mittelstand-startups-2026",[178],{"path":176,"name":26,"lang":171,"published":26},1776421798,[],[],1776421986296]