Germany's MIG Fonds makes first French investment with deep-tech company Zadient Technologies

• MIG AG participates in seed financing of innovative silicon carbide manufacturer
• Zadient is the first investment from MIG AG, in France

Munich, 12 February 2021

MIG AG, through its MIG Fonds, has kicked off the year with a seed investment in deep-tech company Zadient Technologies, based in Chambéry, France and founded in 2020. Joining the financing round led by MIG is Vestel Ventures, the investment arm of Turkey's leading consumer electronics manufacturer Vestel.

Zadient specializes in the production of synthetic silicon carbide (SiC) a building block for power semiconductors important for the rapidly growing electric vehicle market and used in a variety of other industrial applications. SiC occurs in nature as the extremely rare mineral, moissanite. Current processing methods of synthetic SiC are highly complex and expensive. Zadient's innovation lies in its high quality crystal production which improves the manufacturing process and lowers semiconductor production costs. The first round of financing will be used to develop the technology for market entry.

MIG's involvement in Zadient follows a previous successful investment in the SiC market. In 2018, MIG sold its portfolio company Siltectra, focused on an earlier stage of the value chain, to Infineon for a significant sum. The experience allows MIG Fonds to contribute important expertise, including in the person of Dr. Jan Richter, former CTO of Siltectra, as co-founder of Zadient.

Dr. Sören Hein, Partner of MIG AG, said, "We are pleased to finance a second promising company in the exciting silicon carbide market as well as contributing our network and experience."

Zadient is MIG's first investment in France and only the fourth portfolio company of MIG Fonds outside the German-speaking region, following Innatera (Netherlands, 2020), IQM (Finland, 2019) and Liva Healthcare (Denmark, 2019).

Michael Motschmann, General Partner of MIG AG, said, "With our first French investment, we strengthen the international orientation of our portfolio and engage in one of the most dynamic European markets for innovative deep-tech start-ups."

About MIG AG

MIG Verwaltungs AG (MIG AG) is one of the leading German VC investors. MIG invests in young deep tech and life sciences companies in German-speaking Europe and beyond via MIG Fonds. The company has invested approximately €580 million in over 40 companies to date. MIG's portfolio companies develop innovations in biopharmaceuticals, artificial intelligence/machine learning, quantum technologies, digitalization/IOT, precision medicine, digital health among other sectors. Currently, the MIG investment portfolio consists of 29 companies.

MIG's investment team consists of a dedicated expert group of engineers, biologists, scientists and investors who use analytical and creative processes to evaluate risks and opportunities of business models and technologies. Their reputation, experience and network provide excellent access to companies, institutions and decision makers to support the growth of their portfolio companies

In recent years, MIG AG realized successful sales of the portfolio companies SuppreMol (to Baxter International, 2015), sunhill technologies (Volkswagen, 2015), Ganymed (Astellas Pharma, 2016) and Siltectra (Infineon, 2018) and placed several companies on the stock exchange with BRAIN (2017), NFON (2018), BioNTech (2019) and Immatics (2020).

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Contacts:

Dr. Sören Hein,
Partner at MIG AG
,

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