A carve-out isn’t a transaction. It’s a company build.
Large corporations hold technologies with massive commercial potential that will never be realized inside the existing organization. Different strategic priorities, internal politics, resource constraints — the reasons vary, the result is the same: valuable IP sits unused.
mantro's Carve-Out Factory identifies these hidden gems and turns them into market-ready, independently funded companies.
We follow a structured two-phase process:
Venture Readiness (~20–24 weeks)
We analyze the technology, map the commercialization pathway, identify the founding team, design the ownership and licensing structure, develop the investor narrative, and prepare the legal carve-out. By the end of this phase, the venture thesis is built and investors are engaged.
Venture Formation
We incorporate the venture, execute the IP transfer, finalize fundraising, complete the cap table, and launch the company with a full founding team and governance structure.
mantro co-invests directly. We don't just build the venture — we back it with our own capital.
Benefits
For Corporates
- Unlock value from underused R&D assets without building a startup internally
- Retain a minority equity stake — upside without operational burden
- Full de-risking upfront: IP structured, market validated, team in place before launch
- After formation, growth is funded by external investors — not your balance sheet
For Investors & PE
- Access to pre-validated deep tech ventures — not raw deal flow
- Every venture arrives with: structured IP, tested market thesis, assembled founding team, clear governance
- mantro as co-founder and co-investor — permanent skin in the game
- Plug-and-play infrastructure: the venture is operational from day one
Benefits
For Corporates
- Unlock value from underused R&D assets without building a startup internally
- Retain a minority equity stake — upside without operational burden
- Full de-risking upfront: IP structured, market validated, team in place before launch
- After formation, growth is funded by external investors — not your balance sheet
For Investors & PE
- Access to pre-validated deep tech ventures — not raw deal flow
- Every venture arrives with: structured IP, tested market thesis, assembled founding team, clear governance
- mantro as co-founder and co-investor — permanent skin in the game
- Plug-and-play infrastructure: the venture is operational from day one
Track Record
EdiMembre / Merck:
Protein-based membrane technology for cultivated meat. Spun out from Merck R&D. mantro structured the carve-out, co-founded the venture, raised seed funding. Now based in Boston with Merck retaining a strategic minority stake.
LEG:
AI-powered hydraulic balancing for building decarbonization. Partnership between LEG, Oventrop, and mantro. 30% energy savings. 170,000 housing units. mantro as institutional co-founder.
EdiMembre / Merck:
Protein-based membrane technology for cultivated meat. Spun out from Merck R&D. mantro structured the carve-out, co-founded the venture, raised seed funding. Now based in Boston with Merck retaining a strategic minority stake.
LEG:
AI-powered hydraulic balancing for building decarbonization. Partnership between LEG, Oventrop, and mantro. 30% energy savings. 170,000 housing units. mantro as institutional co-founder.
Get in touch
If you want to stress-test an idea, unblock an initiative, or simply see whether we're the right partner, let's talk. You can book a straight-to-the-point session with our CEO Manni, or leave us a message.
30-minute call. No strings attached.
