Germany is the industrial backbone of Europe, and its venture capital ecosystem reflects that engineering DNA. While Berlin remains the hub, the capital is increasingly shifting its focus to B2B, industrial technology, and climate solutions. The investors winning in 2026 are funding the modernisation of the German Mittelstand and the decarbonization of heavy industry.
Here are the 10 firms and investors currently setting the pace in the German market.
Earlybird Venture Capital
Founded by Christian Nagel, Hendrik Brandis, and Roland Manger, Earlybird is one of the most established names in European VC. They operate with a pan-European mindset but maintain a massive footprint in Germany. Their recent portfolio activity has included a significant focus on deep tech and health, with the Earlybird Health team closing a €173 million fund to support patient-centric technologies. Known for backing unicorns like UiPath and N26, they are the first look for any founder building scalable enterprise software or digital health solutions.
HV Capital
HV Capital, formerly Holtzbrinck Ventures, is a significant capital player in the ecosystem. With the closing of Fund IX at over €700 million, they have split their focus into two distinct vehicles, one for early-stage venture and another for growth equity. This allows them to back founders from seed to Series D. Having funded generational companies like Zalando and Flix, they are the default choice for founders who want a partner with deep pockets and a proven track record of guiding companies to IPO.
Cherry Ventures
Founded by Filip Dames and Christian Meermann, Cherry Ventures champions a founders-first philosophy. They recently raised €300 million for their fourth fund to double down on seed-stage investments across Europe. Their team is composed almost entirely of former operators, which gives them a distinct edge in understanding the early-stage grind. They are particularly aggressive in the pre-seed space, often writing the first institutional check for companies that go on to become category leaders, such as FlixBus and Auto1.
Point Nine
Christoph Janz and the team at Point Nine have earned a reputation as a premier SaaS operator in Europe. Based in Berlin, they recently closed a €180 million seed fund dedicated to B2B marketplaces and software. They are famous for their intellectual rigour. Janz’s napkin math essays are industry standard reading, and their ability to spot boring-but-lucrative enterprise problems before anyone else. Their portfolio includes major wins, such as Revolut and Typeform, validating their data-driven, contrarian approach.
Project A Ventures
Project A operates as an Operational VC, providing portfolio companies with access to a team of over 100 functional experts in engineering, marketing, and data. Led by Florian Heinemann, they raised $375 million for their fourth fund to continue backing early-stage founders. This model is particularly attractive to technical founders who need assistance in building their go-to-market strategy. They invest heavily in digital infrastructure, supply chain tech, and commerce, acting as a co-pilot rather than just a bank.
468 Capital
Founded by Alexander Kudlich, Florian Leibert, and Ludwig Ensthaler, 468 Capital brings a Silicon Valley speed to the German market. They raised $400 million for their second fund, targeting deep tech and AI-first companies. The team has a strong background in high-growth environments, such as Rocket Internet and Mesosphere. It is actively seeking sovereign tech plays, companies building critical infrastructure for the European continent. They are the aggressive newcomers challenging the legacy funds with rapid decision-making.
World Fund
World Fund is the heavyweight in the climate tech arena. Founded by Danijel Višević and team, they closed a massive €300 million first fund to back companies that can save at least 100 megatons of CO2 equivalent per year. They focus purely on “Climate Tech 2.0” hardware, energy systems, and synthetic biology rather than simple carbon accounting software. Their thesis is that the most valuable companies of the next decade will be those solving the planetary crisis, and they have the capital to back capital-intensive projects that other VCs shy away from.
UVC Partners
Based in Munich and Berlin, UVC Partners is the bridge between the startup world and German industry. They successfully raised €250 million for their fourth fund, bringing total assets under management to over €600 million. Closely tied to UnternehmerTUM, the innovation centre at the Technical University of Munich, they have unparalleled access to engineering talent and corporate partnerships. They specialise in industrial technologies, B2B deep tech, and mobility, making them the ideal partner for founders building hardware or complex software for the manufacturing sector.
Lakestar
Led by Klaus Hommels, Lakestar is one of the few European funds that can lead massive growth rounds. They recently closed a $600 million fund for early and growth-stage investments, alongside a $265 million continuation fund to hold onto their winners longer. Lakestar has a strong thesis on European sovereignty and defence technology, having recently explored a dedicated fund for the sector. They offer founders a direct line to global capital markets and have backed giants like Spotify and Revolut.
BlueYard Capital
Ciarán O’Leary and the team at BlueYard are the ecosystem’s scientific contrarians. They recently deployed their third fund, valued at $185 million (alongside a dedicated crypto fund), to back founders who are rewriting the fundamental layers of technology. Their portfolio leans heavily into decentralised web protocols, computational biology, and advanced materials. They are not interested in better e-commerce apps and are rather looking for moonshots that can change how society functions, making them the partner of choice for scientist-founders.
