Early stage VC firm Capnamic Ventures has closed its latest fund at €115 million to invest in tech startups in the German speaking region.
The firm, based in Berlin and Cologne, will invest between €500,000 and €3 million in early stage companies in the B2B and digital infrastructure spaces.
The European Investment Fund, Formuesforvaltning, KfW, and NRW.Bank all invested in the fund alongside corporate and media investors including AXA Germany, Cisco, Sparkassen Group, and Rheinische Post Media Group.
Some of the firm’s recent tech investments include electric scooter company Unu and data startup zeotap. It saw one exit in its portfolio earlier this year when Berlin-based data management platform, the ADEX, was acquired by Virtual Minds in January.
“With our new fund, we are committing to supporting a whole new generation of promising tech startups in developing their businesses,” said Jörg Binnenbrücker, Capnamic general partner. “We strongly believe that technology is the core driver of our economy, and we want to use our new fund to invest in the best teams in this sector and create long-term partnerships.”
“Germany has one of the top VC ecosystems in Europe,” added Jon Koplin, managing director EMEAR at Cisco Investments, “and we continue to see it mature as illustrated by an increase in start-ups and investors with an enterprise technology focus and increasing relevance to Cisco.”