The HZG Group Story: From Concept Laser to Bavaria's 3D Printing Powerhouse

From Lichtenfels to the World

In the small Bavarian town of Lichtenfels, two hours north of Munich, something remarkable is happening. A region once known for traditional manufacturing has transformed into what is being called a "globally recognized 3D printing center" — and at the centre of it all is HZG Group.

The company, founded by Kerstin Herzog and Frank Carsten Herzog, manages a €60 million Additive Manufacturing Tech Fund dedicated to 3D printing startups. But to understand HZG Group, you first need to understand where they came from.

The Concept Laser Legacy

Frank Carsten Herzog and Kerstin Herzog are not newcomers to additive manufacturing. They were the original founders of Concept Laser — one of the pioneering companies in metal 3D printing.

Concept Laser developed the LaserCUSING process (a form of laser powder bed fusion) and helped establish metal additive manufacturing as a viable industrial technology. The company was eventually acquired by GE, becoming part of GE Additive.

With HZG Group, the Herzogs are applying decades of experience to a new challenge: funding and accelerating the next generation of 3D printing innovation.

The €60 Million AM Fund

The HZG Additive Manufacturing Tech Fund closed at €60 million after being significantly oversubscribed. The fund invests exclusively in AM startups, primarily in Germany, Austria, and Switzerland (the DACH region).

What makes this fund unique is the hands-on expertise behind it. Unlike generalist venture capital, HZG Group brings:

• Deep technical knowledge of additive manufacturing
• Access to 3D printing infrastructure and facilities
• A network built over decades in the industry
• Experience scaling companies from startup to acquisition

Notable Portfolio Companies

The fund has already invested in several promising AM startups:

• Rapid Liquid Print: MIT spin-off developing liquid-based 3D printing that produces large-scale flexible parts in minutes. HZG led a $7M Series A alongside BMW i Ventures.
• Q.Big 3D: Aalen-based company specializing in large-format additive manufacturing. HZG led a €2M Series A.
• Xolo: Developing volumetric 3D printing technology.
• AMECOS: Consulting and sales specialist for AM equipment.

The Bavarian Cluster Effect

Lichtenfels and the surrounding region have developed a concentration of 3D printing expertise that rivals anywhere in Europe. The presence of HZG Group, combined with modern infrastructure and a cluster of AM-focused companies, has created a self-reinforcing ecosystem.

This mirrors what happened in other industries — clusters form around expertise, talent, and capital, attracting more of each. Bavaria is becoming to European 3D printing what Stuttgart is to automotive or Munich is to biotech.

Why This Matters

For the broader 3D printing industry, HZG Group represents something important: patient, knowledgeable capital that understands the technology. Many AM startups have failed not because their technology was bad, but because they were overpromised growth trajectories by investors who did not understand industrial manufacturing cycles.

The Herzogs have seen the industry from every angle — as entrepreneurs, operators, and now investors. They know what realistic scaling looks like in additive manufacturing.

The Bottom Line

HZG Group is not just another venture fund. It is the continuation of a decades-long commitment to advancing additive manufacturing, backed by founders who helped invent industrial metal 3D printing. For AM startups in Europe, it represents perhaps the most knowledgeable capital available.