Capnamic closes tech VC fund on €115m

The vehicle will make early-stage investments in technology companies in the DACH region, with follow-on funding also available.

It was originally launched in spring 2016 and held a first close in autumn. It will have a lifespan of 10 years with a five-year investment period.

The fund's predecessor, Capnamic United Venture Fund I, closed on €40m in 2013. It made investments in data-driven startups such as Adjust, Zeotap and Leanix. 

Capnamic's investment in Berlin-based data analysis business Contiamo will be the first to come out of the new fund.

Investors
The fund has an LP base of approximately 30 corporate and institutional investors. Axa Germany will invest in the fund alongside Cisco, Sparkassen Group, Rheinische Post Media Group, the European Investment Fund, Formuseforvaltning, KfW and NRW Bank.

Investments
The fund will target initial investments of €500,000-3m, with the possibility to provide further funding in later rounds. It will make between 20-25 investments in technology companies from the DACH region, specifically focusing on B2B, digital infrastructure and Internet-of-Things companies.

People
Capnamic Ventures – Jörg Binnenbrücker, Olaf Jacobi, Christian Siegele (general partners).

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