# Cipio Partners: portfolio, investments and team

> Cipio Partners is a private equity based in Luxembourg. 25 investments on record, latest Mar 2025. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/cipio-partners (Millionrounds; every figure on the page links to its filing or article)

Luxembourg · [Investor](https://millionrounds.com/investors)

# Cipio Partners

Last cheque observed Mar 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

Quiet Private equity

Seed Series A Series B Software SaaS Deeptech

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 25 on record

Since the last cheque **606** days **00** hrs **00** min **00** sec

Median round **$11M** Cheque size, as they say **$2.0M – $6.0M** Rounds led **1 of 25** Sole investor **3 rounds** Exits **10 from the portfolio** Mostly in **United States, 72%**

Pitch Cipio Partners

Another investor of this name exists, and we could not establish from the rounds which of them the press meant. Treat the record below as possibly belonging to either. [Tell us which](https://millionrounds.com/corrections?slug=cipio-partners) if you know.

## Cipio Partners highlights

- 01 25 rounds on record
- 02 Mostly Venture and Series D: 58% of its rounds
- 03 Sole investor in 3 rounds, median $7.0M
- 04 10 exits from the portfolio

## What they do

> Cipio Partners invests in European growth-stage technology companies, focusing on software, SaaS, and selected deeptech businesses since 2003. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** $2.0M – $6.0M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Software SaaS Deeptech
- **Based in:** Luxembourg City, Luxembourg
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **25 appearances**

- **2025** 1 round
- **Mar** **[Conceptboard](https://millionrounds.com/company/conceptboard)** DE · Silicon Canals **$11M** *Led*
- **2013** 1 round
- **Jan** **[BridgeWave Communications](https://millionrounds.com/company/bridgewave-communications)** Venture · US · sec.gov **$2.9M** With 1 other
- **2012** 6 rounds
- **Sept** **[DisplayLink](https://millionrounds.com/company/displaylink)** Venture · US · finsmes.com **$10M** With 7 others
- **Jul** **[mysportgroup](https://millionrounds.com/company/mysportgroup)** Series B · DE · finsmes.com **$17M** With 3 others
- **Jul** **[wywy](https://millionrounds.com/company/wywy)** Series A · DE · reuters.com **$3.0M** Sole investor
- **Jul** **[DisplayLink](https://millionrounds.com/company/displaylink)** Venture · US **$3.3M** With 5 others
- **Apr** **[BridgeWave Communications](https://millionrounds.com/company/bridgewave-communications)** Venture · US **$1.1M** With 1 other
- **Jan** **[BridgeWave Communications](https://millionrounds.com/company/bridgewave-communications)** Venture · US · finsmes.com **$10M** With 3 others
- **2011** 1 round
- **Sept** **[DisplayLink](https://millionrounds.com/company/displaylink)** Series D · US · finsmes.com **$15M** With 5 others
- **2010** 1 round
- **Mar** **[VPIsystems](https://millionrounds.com/company/vpisystems)** Venture · US **$4.0M** With 4 others
- **2009** 2 rounds
- **Nov** **[BridgeWave Communications](https://millionrounds.com/company/bridgewave-communications)** Venture · US · deals.venturebeat.com **$2.4M** With 12 others
- **Feb** **[BridgeCo](https://millionrounds.com/company/bridgeco)** Venture · CH · freshnews.com **$6.0M** With 7 others
- **2008** 3 rounds
- **Jul** **[Verimatrix](https://millionrounds.com/company/verimatrix)** Series C · US · biz.yahoo.com **$5.0M** With 3 others
- **Jun** **[PSS Systems](https://millionrounds.com/company/pss-systems)** Series D · US · venturebeat.com **$18M** With 4 others
- **Jan** **[DuneNetworks](https://millionrounds.com/company/dunenetworks)** Series B · US · venturebeat.com **$12M** With 5 others
- **2007** 4 rounds
- **Oct** **[Voltage Security](https://millionrounds.com/company/voltage-security)** Series D · US · venturebeat.com **$12M** With 7 others
- **Sept** **[BroadLight](https://millionrounds.com/company/broadlight)** Series E · US · venturebeat.com **$12M** With 8 others
- **Jul** **[DiBcom](https://millionrounds.com/company/dibcom)** Series E · FR **$27M** With 10 others
- **Jan** **[BridgeCo](https://millionrounds.com/company/bridgeco)** Venture · CH · dmwmedia.com **$17M** With 6 others
- **2006** 2 rounds
- **Jun** **[BridgeCo](https://millionrounds.com/company/bridgeco)** Series D · CH · thefreelibrary.com **$23M** With 6 others
- **Apr** **[Imago Scientific Instruments](https://millionrounds.com/company/imago-scientific-instruments)** Venture · US · azonano.com **$3.4M** With 2 others
- **2005** 4 rounds
- **Dec** **[BridgeWave Communications](https://millionrounds.com/company/bridgewave-communications)** Series B · US · bridgewave.com **$7.0M** Sole investor
- **Nov** **[Metara](https://millionrounds.com/company/metara)** Series E · US · eetimes.com **$12M** With 3 others
- **Aug** **[Broadbus Technologies](https://millionrounds.com/company/broadbus-technologies)** Series C · US **$20M** With 4 others
- **Mar** **[VPIsystems](https://millionrounds.com/company/vpisystems)** Series C · US · core-capital.com **$9.0M** With 6 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **18** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What they claim to have backed

From their own portfolio page (on their website)

**17** of 21 we have independently watched raise

[Agorapulse](https://millionrounds.com/company/agorapulse)[Conceptboard](https://millionrounds.com/company/conceptboard)[Crowdfarming](https://millionrounds.com/company/crowdfarming)[Dawnhealth](https://millionrounds.com/company/dawn-health)[Druidai](https://millionrounds.com/company/druid-ai)[Fintechos](https://millionrounds.com/company/fintechos)[Giraffe360](https://millionrounds.com/company/giraffe360)[Hololight](https://millionrounds.com/company/hololight)[Isaraerospace](https://millionrounds.com/company/isar-aerospace)[Launchmetrics](https://millionrounds.com/company/launchmetrics)[Microoled](https://millionrounds.com/company/microoled)[Navvis](https://millionrounds.com/company/navvis)[Researchgate](https://millionrounds.com/company/researchgate)[Spiideo](https://millionrounds.com/company/spiideo)[Tyntec](https://millionrounds.com/company/tyntec)[Welcometothejungle](https://millionrounds.com/company/welcome-to-the-jungle)[Wire](https://millionrounds.com/company/wire) Addvance-consumer-health Brainsgate Nuki Zappi

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **10 in all**

**[Voltage Security](https://millionrounds.com/company/voltage-security)** Bought by Hp **Undisclosed** May 2015

**[Voltage Security](https://millionrounds.com/company/voltage-security)** Bought by [Hewlett-Packard](https://millionrounds.com/fund/hewlett-packard) **Undisclosed** Feb 2015

**[BroadLight](https://millionrounds.com/company/broadlight)** Bought by [Broadcom](https://millionrounds.com/fund/broadcom-limited) **$230M** Mar 2012

**[DiBcom](https://millionrounds.com/company/dibcom)** Bought by [Parrot](https://millionrounds.com/fund/parrot) **Undisclosed** Jul 2011

**[BridgeCo](https://millionrounds.com/company/bridgeco)** Bought by SMSC **Undisclosed** May 2011

**[PSS Systems](https://millionrounds.com/company/pss-systems)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Oct 2010

**[Imago Scientific Instruments](https://millionrounds.com/company/imago-scientific-instruments)** Bought by AMETEK **Undisclosed** Apr 2010

**[VPIsystems](https://millionrounds.com/company/vpisystems)** Bought by Elanti Systems **Undisclosed** Mar 2010

**[DuneNetworks](https://millionrounds.com/company/dunenetworks)** Bought by [Broadcom](https://millionrounds.com/fund/broadcom-limited) **$178M** Nov 2009

**[Broadbus Technologies](https://millionrounds.com/company/broadbus-technologies)** Bought by [Motorola Solutions](https://millionrounds.com/fund/motorola-solutions-venture-capital) **$181M** Jul 2006

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Seed Series A Series B

Median round joined **$11M** the round, not its cheque Alone, median **$7.0M**

Led 1 of 25 rounds **4%**

- **Said size:** $2.0M – $6.0M
- **Sole investor:** 3 rounds
- **Last cheque:** Mar 2025
- **Exits:** 10 from the portfolio

Rounds by stage said on their site

- Venture *10*
- Series D *4*
- Series B said *3*
- Series C *3*
- Series E *3*
- Series A said *1*
- Seed said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [Core Capital Partners](https://millionrounds.com/fund/core-capital-partners) 6
- [Intel Capital](https://millionrounds.com/fund/intel-capital) 6
- [Balderton Capital](https://millionrounds.com/fund/balderton-capital) 5
- [Advent Venture Partners](https://millionrounds.com/fund/advent-venture-partners) 3
- [Atlas Venture](https://millionrounds.com/fund/atlas-venture) 3
- [DFJ Esprit](https://millionrounds.com/fund/dfj-esprit) 3

**Pitching Cipio Partners?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Cipio Partners. A count of rooms they were both in, not a relationship either has claimed.

[**Core Capital Partners** VC firm **6** rounds together](https://millionrounds.com/fund/core-capital-partners)[**Intel Capital** Corporate VC **6** rounds together](https://millionrounds.com/fund/intel-capital)[**Balderton Capital** VC firm **5** rounds together](https://millionrounds.com/fund/balderton-capital)[**Advent Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/advent-venture-partners)[**Atlas Venture** VC firm **3** rounds together](https://millionrounds.com/fund/atlas-venture)[**DFJ Esprit** VC firm **3** rounds together](https://millionrounds.com/fund/dfj-esprit)[**Earlybird Venture Capital** VC firm **3** rounds together](https://millionrounds.com/fund/earlybird)[**Fidelity Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/fidelity-ventures)[**Wellington Partners** VC firm **3** rounds together](https://millionrounds.com/fund/wellington-partners)[**Azure Capital Partners** VC firm **2** rounds together](https://millionrounds.com/fund/azure-capital-partners)[**Benchmark** VC firm **2** rounds together](https://millionrounds.com/fund/benchmark)[**Clydesdale Bank PLC** Investment firm **2** rounds together](https://millionrounds.com/fund/clydesdale-bank-plc)

## Recently backed

The latest companies Cipio Partners put money into.

[**Conceptboard** $11M · Mar 2025](https://millionrounds.com/company/conceptboard)

## Quick answers about Cipio Partners

### What does Cipio Partners invest in?

Cipio Partners invests most often at Venture and Series D (58% of the rounds on record), in sectors such as Software, SaaS and Deeptech.

### How active is Cipio Partners?

25 investments on record, 0 of them in the last 12 months, and it led 1. The most recent was in Mar 2025.

### What has Cipio Partners invested in recently?

Its most recent investments on record: Conceptboard (Mar 2025).

### How big are Cipio Partners's cheques?

The median round it joins is $11M. It says it writes cheques of $2.0M to $6.0M.

### Does Cipio Partners lead rounds?

Sometimes: it led 1 of its 25 investments on record (4%).

### Where does Cipio Partners invest?

Most of the companies it backs are in the United States (72%), Germany (12%) and Switzerland (12%).

### Is Cipio Partners investing now?

No investments in the last 12 months; the latest was in Mar 2025.

### Who does Cipio Partners invest alongside?

Most often Core Capital Partners (6 rounds together), Intel Capital (6 rounds together) and Balderton Capital (5 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=cipio-partners) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=cipio-partners)