Knorr Capital, the Munich-based venture capital firm, has invested in Kimon, the German venture capital firm, continuing its strategy to expand by taking advantage of consolidation in the German venture capital market.

Knorr Capital will roll its 11 investments in the biotechnology and life sciences sector into Kimon's portfolio, resulting in a 45% stake for Knorr. A spokesman for Knorr said that although the company does not plan to take a majority stake in Kimon for tax reasons, it will take an active role in managing and building Kimon's portfolio.