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Mittelstandische Beteiligungsgesellschaft Thuringen
MBG Thüringen operates from Erfurt as the dedicated equity-financing arm for small and medium enterprises in the German state of Thuringia.
Mittelstandische Beteiligungsgesellschaft Thuringen
MBG Thüringen operates from Erfurt as the dedicated equity-financing arm for small and medium enterprises in the German state of Thuringia. Its mandate is developmental: it offers economic equity — typically silent participations — to companies that otherwise struggle to meet bank collateral requirements. The firm covers founding, growth, and succession situations, functioning as a quasi-public balance-sheet vehicle aligned with the regional development bank Thüringer Aufbaubank and the guarantee bank Bürgschaftsbank Thüringen. The firm writes equity and equity-like instruments from early-stage startups to established Mittelstand companies, targeting situations where a capital injection unlocks investment, expansion, or generational transfer. It co-invests alongside bm|t beteiligungsmanagement thüringen gmbh, the regional VC partner, for technology-oriented startups, while supporting traditional SME succession planning through silent-participation structures. Recent promotional activity includes the 2024–25 "get started 2gether" technology competition and a series of advisor-focused events hosted at ThEx, the Thuringian center for entrepreneurship. Managing Directors Stefan Schneider and Michael Burchardt lead the organization, which is housed at Bonifaciusstraße 19 in Erfurt. The firm does not disclose total assets or deployment capacity. It is an associate member of the German Venture Capital Association (Bundesverband Deutscher Kapitalbeteiligungsgesellschaften) and the Association of German Guarantee Banks (Verband Deutscher Bürgschaftsbanken), reflecting its hybrid position between public-development finance and private-capital networks. Its 2025 impact report, published as a "Förderbilanz," emphasizes team-level engagement rather than portfolio-size metrics. In January 2026, the firm co-hosted its annual New Year’s Reception alongside Bürgschaftsbank Thüringen at the Zentralheize Erfurt venue. MBG Thüringen’s architecture is distinct: it is not a fund manager recycling LP commitments but a permanent-capital vehicle with a territorial mandate. Every investment is anchored in Thuringia, making it a pure-play regional economic-development investor. Its silent-participation model gives it downside protection similar to debt but equity upside without operational control — a structure uncommon outside German-speaking public-investment banks.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Erfurt
Corporate office
Bonifaciusstraße 19, 99084 Erfurt, Germany
Principals
Stefan Schneider
Managing Director
Michael Burchardt
Managing Director
Frequently asked questions
How does MBG Thüringen provide equity without taking control?
It uses silent participations (stille Beteiligungen), a form of mezzanine capital common in German public-investment banking. The firm provides economic equity — ranking behind senior debt but ahead of pure shareholder equity — without voting rights or operational interference. This structure qualifies as core capital for bank-rating purposes while leaving the founding or family owners in full strategic control.
Who sets the investment strategy for MBG Thüringen?
Managing Directors Stefan Schneider and Michael Burchardt jointly lead the institution. The firm operates under a public-investment mandate tied to Thuringian economic development, and its strategy — supporting founding, growth, and succession across the state — is shaped in close cooperation with the Thüringer Aufbaubank and industry bodies such as the Bundesverband Deutscher Kapitalbeteiligungsgesellschaften.
What is the firm’s relationship with Thüringer Aufbaubank and Bürgschaftsbank Thüringen?
MBG Thüringen functions as a sister organization to the regional development bank (TAB) and the state’s guarantee bank (BBT). The three entities form a financing cluster for Thuringian SMEs: TAB handles subsidized loans, BBT provides guarantees for bank debt, and MBG supplies equity and equity-like instruments. They also collaborate on events such as the annual New Year’s Reception and the MBG Beratertag.
Does MBG Thüringen invest outside Thuringia?
No. Its entire mandate is geographically restricted to the state of Thuringia. It invests exclusively in companies with headquarters or significant operations in the state. The territorial link is the core of its public-development mission.
Can external investors co-invest alongside MBG Thüringen?
The firm does not structure pooled funds or invite third-party LP capital. It acts as a principal investor from its own balance sheet. On technology deals, it co-invests with bm|t beteiligungsmanagement thüringen gmbh, the designated regional venture-capital co-investor.
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