Cologne-based VC firm Capnamic has announced the close of its third fund, now at $215 million, or approximately €197 million. Remaining true to its ethos, the firm will continue to focus on, and invest in startups hailing from the German-speaking world. The average ticket size will be between €4 million to €5 million, but the firm notes that Pre-Seed rounds will, understandably, be smaller, hovering around the €500,000 to €1 million mark, whereas Series A rounds will see a stronger financial commitment from the firm.
While Capnamic’s previous funds have focused on Seed and Series A investments, the firm reports that with this third vehicle, they will be significantly upping their presence in the Pre-Seed investment phase, with a strong belief that the next wave of German unicorns will in fact, not be Berlin or Munich-based alone.
Just shy of a decade in operation, the firm operates with $450 million in assets under management and currently has 35 active investments in portfolio companies that include new additions via the third fund Cleverly, Workpath, Nanoleq, Sharpest, and Cedalo.
Backing Capnamic’s third fund are a variety of institutional and corporate investors as well as a number of successful entrepreneurs including Jörg Gerbig (Lieferando), Dirk Graber (Mister Spex), and Verena Pausder (Fox & Sheep).
Additionally, companies including Evonik, Neue Zürcher Zeitung, Fressnapf, organizations of the Sparkassen Finanzgruppe, Rheinische Post and CEWE, are also supporting the fund.
"Since its inception, Capnamic has been dedicated to one goal only: to support the most promising tech startups from the German-speaking region in the best possible way to grow and scale internationally. We are very pleased that Capnamic's success to date has convinced a number of major fund investors,” commented managing partner Christian Siegele. “With our new, oversubscribed $215 million fund, we will jointly invest in the next generation of global tech champions and accompany them on their way to success.”