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:
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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.
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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.
