Carsten Thoma

Carsten Thoma is a distinguished figure in the European tech ecosystem, transitioning from a highly successful entrepreneurial career to a prominent role as a venture capitalist. He is widely recognized as the co-founder of hybris, a pioneering e-commerce software company established in 1997. Under his leadership, hybris grew into a global leader in its field before being strategically acquired by SAP in 2013 for an impressive sum exceeding $1.5 billion. This significant exit underscored Thoma's deep understanding of enterprise software, market dynamics, and scaling a technology business on an international scale.

Leveraging his extensive operational experience, Thoma co-founded Cavalry Ventures, a Berlin-based early-stage venture capital firm, where he serves as a Founding Partner. Cavalry Ventures primarily focuses on pre-seed and seed-stage investments, targeting promising startups across diverse sectors such as B2B SaaS, enterprise technology, fintech, and consumer internet. His investment thesis is heavily influenced by his background, favoring companies that address complex business challenges with innovative software solutions.

Through Cavalry Ventures, Thoma has been instrumental in backing a portfolio of high-growth companies. Notable investments include commercetools, Spryker, Frontify, and Contentstack, many of which operate in the digital commerce and content management spheres, reflecting his foundational expertise from hybris. Cavalry Ventures has demonstrated strong fundraising capabilities, with their latest vehicle, Fund IV, closing at €160 million (approximately $173 million USD). This substantial capital pool enables the firm to provide robust support to its portfolio companies from their earliest stages.

As a founding partner, Carsten Thoma's involvement extends beyond capital provision; he offers strategic guidance and leverages his vast network to assist founders in navigating the complexities of product development, market entry, and scaling. Cavalry Ventures typically deploys initial checks ranging from $500,000 to $5,000,000, positioning them as a key early-stage investor for ambitious European tech startups. His unique blend of entrepreneurial success and investment acumen makes him a highly sought-after partner for founders building the next generation of enterprise and digital businesses.