Germany-based Bauer Media Group has announced plans to establish Bauer Venture Partners, a venture capital fund to help startups and youthful technology companies.

The multinational media firm’s ten-year plan to invest €100 million ($134 million) in young digital firms eclipses Google Ventures’ and its recent move into Europe with $100 million of backing.

Experienced venture capitalist Thomas Preuss has been tasked with heading up the newly formed Bauer Venture Partners. Preuss has been a board member or mentor for a number of digital companies including propertybase, Seedcamp and Searchmetrics.

“Stage-agnostic approach”

Bauer Venture Partners will be operating differently from other similar venture initiatives by choosing not to focus on any particular funding stage, according to founder and managing partner Preuss.

“We perceive ourselves as partners at eye level and would like to help the founders to build the companies and to develop them jointly further up to the point of a successful exit for all shareholders,” he said.

“In doing so, we have a stage-agnostic approach without focusing on any specific phase like seed, early-stage or growth investments.”

The long-term aim is for Bauer Media Group to benefit from any new digital technologies, teams or innovations that might come about as a result of the company’s new investment arm.