IBB Ventures provides innovative Berlin-based companies with venture capital and has established itself in Berlin as a market leader in early-stage financing. The funds are used primarily for developing and launching innovative products or services and creative business concepts. Currently, two funds managed by IBB Ventures are in the investment phase: the VC Fonds Technologie Berlin, with assets of 60 million EUR, and the VC Fonds Kreativwirtschaft Berlin, with assets of 40 million EUR. Both VC funds are subsidized by the Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. Since 1997, in consortiums with partners, IBB Ventures has provided more than 1.1 billion EUR to Berlin-based creative and technology companies, with IBB Ventures investing approximately 157 million EUR as the lead-, co-lead- or co-investor.