Hanover, 10.01.2023 – Start-ups in Lower Saxony can rely on new, strong financing partners in the future. State funds in the amount of EUR 50 million will be made available for various growth funds via the NBank. The NBank received comprehensive legal advice from Luther Rechtsanwaltsgesellschaft.
The state of Lower Saxony has made EUR 50 million available for the implementation of its start-up strategy, which is to flow into various regional growth funds via a participation of the state-owned NBank. These growth funds with different thematic focuses invest in start-ups in the growth phase, i.e. with high capital requirements. Private investors are also involved in each fund, so that a total of up to around EUR 100 million can flow into the young companies. Following the Scalehouse Capital Fund in Osnabrück and the Invest-Impuls Scale Fund in Hanover, the Life Science Valley Growth Fund in Göttingen has now also been launched.
Luther provided comprehensive advice to NBank both on the financing and trust agreement with the State of Lower Saxony and on its participation in the respective funds.
"With Luther, we had a very competent and solution-oriented partner at our side. We are pleased that we succeeded in implementing this complex project with these experienced advisors in the interests of Lower Saxony's economy and look forward to further cooperation," explained Christoph Siegfried, Head of Legal/Compliance/Internal Services at NBank.
The "Investitions- und Förderbank Niedersachsen - NBank" is the competent contact in Lower Saxony for all relevant funding programmes of the European Union, the federal government, the state and the municipalities. The NBank was founded in 2004 and is wholly owned by the state of Lower Saxony. It currently employs 675 staff and has total assets of EUR 4.98 billion. Further information at www.nbank.de
On behalf of NBank:
Luther, Corporate/M&A: Dr Benjamin Hub (Partner)
Luther, Public Procurement Law: Ulf-Dieter Pape (Partner)
Luther, State Aid Law: Cornelia Yzer (Of Counsel)
Luther, Tax Law: Dr Bela Jansen (Partner)
NBank in-house: Christoph Siegfried, Nicolas Schönfeld, Daniel Döbel