Knorr Capital Partner, the German venture capital firm, is planning to sell part of its stake in Medicis, a Munich-based venture capital company, in an initial public offering on the SWX Swiss Stock Exchange.

A Knorr spokesman said the firm is hoping to raise between €50m and €60m ($44.4m and $53.3m) in the IPO which is planned for the fourth quarter of this year. The company is looking at a number of banks to lead the offer but declined to name the banks on the shortlist.