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HV Capital

Europe, Bayern, Germany, Munich

Description

HV Capital, formerly known as Holtzbrinck Ventures, stands as one of Europe's most established and financially robust venture capital firms, with a history spanning over two decades since its inception in 2000. Headquartered in Munich, Germany, the firm has consistently focused on identifying and nurturing promising internet and technology companies across the continent. Their investment philosophy centers on providing long-term support to founders, helping them scale their ventures from early stages through to significant growth.

The firm's investment strategy is notably broad, encompassing a wide range of stages from Seed to Series D rounds. HV Capital primarily targets companies within the internet and technology sectors, demonstrating a strong track record across various sub-segments including e-commerce, SaaS, fintech, and mobility. Geographically, their reach extends beyond their German roots to include key European markets such as the UK, France, and the Nordics. This expansive approach is underpinned by substantial capital; HV Capital manages funds exceeding €2.8 billion, making it a significant player in the European venture ecosystem.

HV Capital's commitment to the European startup scene is further evidenced by its latest fund, Fund IX, which closed at a substantial €710 million. This fund continues the firm's tradition of investing across the growth spectrum, with initial investment sizes ranging from €500,000 for early-stage opportunities up to €50 million for later-stage growth rounds. Over its operational history, HV Capital has invested in more than 225 companies, contributing to the success stories of prominent European tech giants such as Zalando, Delivery Hero, FlixBus, and SumUp, underscoring their impact on the digital economy.

Investor Profile

HV Capital has backed more than 472 startups, with 29 new investments in the last 12 months alone. The firm has led 146 rounds, about 31% of its total and boasts 90 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Series B rounds (top funding stages).
  • Majority of deals are located in Germany, United States, United Kingdom.
  • Strong thematic focus on E-Commerce, Software, Internet.
  • Led 16 rounds in the past year.
  • Typical check size: $540K – $54M.

Stage Focus

  • Series A (28%)
  • Seed (24%)
  • Series B (16%)
  • Series Unknown (14%)
  • Series C (10%)
  • Series D (3%)
  • Series E (2%)
  • Pre Seed (1%)
  • Private Equity (1%)
  • Post Ipo Equity (1%)

Country Focus

  • Germany (75%)
  • United States (6%)
  • United Kingdom (6%)
  • Brazil (2%)
  • The Netherlands (2%)
  • Switzerland (1%)
  • Spain (1%)
  • Canada (1%)
  • Singapore (1%)
  • Russian Federation (1%)

Industry Focus

  • E-commerce
  • Software
  • Internet
  • Information Technology
  • Financial Services
  • Fintech
  • Artificial Intelligence (Ai)
  • Saas
  • Health Care
  • Marketplace
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does HV Capital frequently co-invest with?

Rocket Internet
Europe, Berlin, Germany, Berlin
Co-Investments: 36
TEV Ventures
Europe, Nordrhein-Westfalen, Germany, Essen
Co-Investments: 22
RTP Global
Europe, England, United Kingdom, London
Co-Investments: 24
Headline
North America, California, United States, San Francisco
Co-Investments: 17
b2venture
Europe, Berlin, Germany, Berlin
Co-Investments: 17
Vorwerk Ventures
Europe, Berlin, Germany, Berlin
Co-Investments: 17
F
Europe, Bayern, Germany, Munich
Co-Investments: 14
Picus Capital
Europe, Bayern, Germany, Munich
Co-Investments: 20
Global Founders Capital
Europe, Berlin, Germany, Berlin
Co-Investments: 19
Lakestar
Europe, Zurich, Switzerland, Zürich
Co-Investments: 14

Which angels does HV Capital often collaborate with?

US
Europe, Berlin, Germany, Berlin
Shared Deals: 2
MH
Europe, Berlin, Germany, Berlin
Shared Deals: 2
CH
Europe, Nordrhein-Westfalen, Germany, Gütersloh
Shared Deals: 4
DN
Europe, Berlin, Germany, Berlin
Shared Deals: 3
MG
Europe, Grad Sofiya, Bulgaria, German
Shared Deals: 5
JK
Europe, Berlin, Germany, Berlin
Shared Deals: 2
CM
Europe, Berlin, Germany, Berlin
Shared Deals: 3
NS
Europe, Berlin, Germany, Berlin
Shared Deals: 3
OJ
Europe, England, United Kingdom, London
Shared Deals: 3
HH
Europe, Hamburg, Germany, Hamburg
Shared Deals: 3

What are some of recent deals done by HV Capital?

Midas

Berlin, Berlin, Germany

Midas is a cryptocurrency application that allows users to sell and invest in cryptocurrency and tokens.

CryptocurrencyWeb3
Series AMar 30, 2026
Amount Raised: $50,000,000
Advanced Machine Intelligence

Paris, Ile-de-France, France

Advanced Machine Intelligence develops artificial intelligence systems that model real-world environments using sensor data.

Artificial Intelligence (AI)Foundational AIMachine LearningNatural Language Processing
SeedMar 10, 2026
Amount Raised: $1,030,000,000
Flinn

Vienna, Wien, Austria

Flinn Comply allows medical device manufacturers to automate quality and regulatory processes.

MedicalMedical Device
Series AFeb 19, 2026
Amount Raised: $20,000,000
Hades Mining

Munich, Bayern, Germany

Hades Mining is a modern mining firm that puts technology first.

Mining
SeedFeb 11, 2026
Amount Raised: $17,871,291
Complyance

New York, New York, United States

Complyance is an AI-native software company that offers risk management, compliance automation, and control monitoring solutions.

Artificial Intelligence (AI)Risk ManagementSoftware
Series AFeb 11, 2026
Amount Raised: $20,000,000
Qontext

Berlin, Berlin, Germany

Qontext is an AI platform that acts as a unified context layer for businesses.

Artificial Intelligence (AI)Information TechnologyInternet
Pre SeedFeb 5, 2026
Amount Raised: $2,700,000
Exein

Roma, Lazio, Italy

Exein is a cybersecurity company that specializes in protecting embedded devices using AI-powered threat detection technologies.

Artificial Intelligence (AI)Cyber SecurityInternet of ThingsNetwork SecuritySoftware
Series UnknownDec 18, 2025
Amount Raised: $117,248,277
voize

Berlin, Berlin, Germany

Voize is a voice assistant that converts caregivers’ spoken documentation into structured entries through a mobile app.

AppsDocument ManagementInformation TechnologyVoIP
Series ANov 17, 2025
Amount Raised: $49,872,477
Acurast

Vienna, Wien, Austria

Acurast Decentralized Serverless Cloud, leveraging the multipliers of mobile phones for compute.

BlockchainCloud Computing
Series UnknownNov 13, 2025
Amount Raised: $11,000,000
Ferroelectric Memory Company

Dresden, Sachsen, Germany

Ferroelectric Memory Company solves one of the most important hardware challenges in the age of Internet-of-Things.

HardwareInformation TechnologySemiconductor
Series CNov 13, 2025
Amount Raised: $89,231,600

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