42CAP, a Munich-based VC firm, has closed its second €50 million seed fund. The investors in the fund include the European Investment Fund (EIF), the German Kreditanstalt für Wiederaufbau (KfW Capital), Isomer Capital, as well as other private investors and business angels.
Closing of the new fund will allow the firm to “lead seed investments in B2B technology startups in Europe,” said Alex Meyer, general partner of 42CAP. Currently, its portfolio includes companies like Lesara in Berlin, Kaia Health in Munich, Vienna-based Adverity, OnTruck from Madrid, Sweden-based Crosser, and more.
“We are on the threshold of an enormous technological leap, which changes the way corporations will work in the future – we want to leverage this potential,” said Thomas Wilke, general partner of 42CAP. “In Europe, we see top technology and visionary thinking that can compete internationally, especially in the field of AI.”