# HV Capital: portfolio, investments and team > HV Capital is a vc firm based in Germany. 166 investments on record, 30 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/hv-capital (Millionrounds; every figure on the page links to its filing or article) Germany · [Investor](https://millionrounds.com/investors) # HV Capital Last cheque observed Oct 2026; 166 cheques on record. Email Deploying now New fund $12M, May 2026 VC firm Seed Series A AI Enterprise_software Deep_tech Follow HV Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fhv-capital) Deploying now **67%** of best year **30** **cheques in 12 months**, 166 on record Since the last cheque **16** days **00** hrs **00** min **00** sec Median round **$20M** Rounds led **8 of 166** Sole investor **9 rounds** Exits **2 from the portfolio** Mostly in **Germany, 56%** Pitch HV Capital ## HV Capital highlights - 01 30 cheques in the last 12 months - 02 Mostly Series A and Venture: 51% of its rounds - 03 Sole investor in 9 rounds, median $4.8M - 04 2 exits from the portfolio ## What they do > We provide the capital and conviction to help founders build it. From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** From $200K as they say - **Stages:** Seed Series A - **Sectors:** AI Enterprise_software Deep_tech - **Based in:** Munich, Germany - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **166 appearances** - **2026** 22 rounds - **Oct** **[Rabot Energy](https://millionrounds.com/company/rabot-energy)** Series B · DE · DTCF DeepTech & Climate Fonds **$50M** With 8 others - **Oct** **[Hadrian](https://millionrounds.com/company/hadrian)** Series B · NL · Smartfin **$40M** With 5 others - **Sept** **[Exein](https://millionrounds.com/company/exein)** Growth · IT · eCapital Entrepreneurial Partners **$270M** With 16 others - **Aug** **[Ore Energy](https://millionrounds.com/company/ore-energy)** Series A · NL · Firms' own news pages **$43M** *Led* - **Aug** **[Flip](https://millionrounds.com/company/flip)** Venture · US **$25M** With 3 others - **Jul** **[Fleek](https://millionrounds.com/company/fleek)** Series B · GB · Ventureburn **$25M** With 7 others - **Jul** **[Quantum Systems](https://millionrounds.com/company/quantum-systems)** Series D · DE · TechStartups **$1.2B** With 12 others - **Jul** **[HelloFresh](https://millionrounds.com/company/hellofresh)** Debt · DE **$398M** With 1 other - **Jun** **[Isar Aerospace](https://millionrounds.com/company/isar-aerospace)** Series D · DE · Ventureburn **$312M** With 8 others - **Jun** **[FINN](https://millionrounds.com/company/finn)** Series D · DE · Firms' own news pages **$113M** With 11 others - **May** **[Fifth Dimension AI](https://millionrounds.com/company/fifth-dimension-ai)** Series A · GB **$26M** With 4 others - **Apr** **[SPREAD AI](https://millionrounds.com/company/spread-ai)** Series B · DE **$29M** With 3 others - **Mar** **[Upvest](https://millionrounds.com/company/upvest)** Growth · DE · TechStartups **$125M** With 5 others - **Mar** **[Advanced Machine Intelligence](https://millionrounds.com/company/advanced-machine-intelligence)** Seed · FR · Crunchbase News **$1.0B** *Led* - **Mar** **[AMI Labs](https://millionrounds.com/company/ami-labs)** FR · TechCrunch **$1.0B** *Led* - **Mar** **[Upvest](https://millionrounds.com/company/upvest)** Series D · DE **$90M** With 4 others - **Mar** **[Wellster Healthtech Group](https://millionrounds.com/company/wellster-healthtech-group)** Debt · DE **$12M** With 2 others - **Feb** **[Flinn.ai](https://millionrounds.com/company/flinn-ai)** Series A · AT · Ventureburn **$20M** *Led* - **Feb** **[Complyance](https://millionrounds.com/company/complyance)** Series A · TechCrunch **$20M** With 6 others - **Feb** **[Hades Mining](https://millionrounds.com/company/hades-mining)** Seed · DE **$18M** With 3 others - **Feb** **[Qontext](https://millionrounds.com/company/qontext)** Pre-seed · DE **$2.7M** With 1 other - **Feb** **[Quantum Systems](https://millionrounds.com/company/quantum-systems)** Debt · DE **$178M** With 3 others - **2025** 45 rounds - **Dec** **[Limehome](https://millionrounds.com/company/limehome)** Venture · DE **$88M** With 2 others - **Dec** **[Fleek](https://millionrounds.com/company/fleek)** Venture · US **Undisclosed** With 3 others - **Nov** **[voize](https://millionrounds.com/company/voize)** Series A · DE · Silicon Canals **$50M** With 3 others - **Nov** **[Acurast](https://millionrounds.com/company/acurast)** CH · Ventureburn **$11M** With 6 others - **Nov** **[FMC](https://millionrounds.com/company/fmc)** Series C · DE · Silicon Canals **$116M** *Led* - **Nov** **[Ferroelectric Memory Company (FMC)](https://millionrounds.com/company/ferroelectric-memory-company-fmc)** Growth · DE · DTCF DeepTech & Climate Fonds **$116M** *Led* - **Nov** **[Ferroelectric Memory Company](https://millionrounds.com/company/ferroelectric-memory-company)** Series C · DE **$89M** With 4 others - **Nov** **[The Icon League](https://millionrounds.com/company/the-icon-league)** Series A · DE **$17M** Sole investor - **Oct** **[PACT](https://millionrounds.com/company/pact)** Series A · GB **$21M** With 2 others - **Sept** **[Bitlight Labs](https://millionrounds.com/company/bitlight-labs)** Seed · US **$9.6M** With 3 others - **Sept** **[Mondoo](https://millionrounds.com/company/mondoo)** Series A · US **$18M** With 2 others - **Sept** **[Lingokids](https://millionrounds.com/company/lingokids)** Venture · ES **$120M** With 4 others - **Sept** **[PraxiPal](https://millionrounds.com/company/praxipal)** Seed · DE **$6.7M** With 1 other - **Sept** **[feld.energy](https://millionrounds.com/company/feld-energy)** Seed · DE **$12M** With 3 others - **Aug** **[Framer](https://millionrounds.com/company/framer)** Series D · NL · Crunchbase News **$100M** With 8 others - **Aug** **[Tzafon](https://millionrounds.com/company/tzafon)** Pre-seed · US **$3.0M** With 2 others - **Jul** **[ARX Robotics](https://millionrounds.com/company/arx-robotics)** Series A · DE **$13M** With 4 others - **Jul** **[Rabot Energy](https://millionrounds.com/company/rabot-energy)** Venture · DE **Undisclosed** With 2 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 Named by the firm itself, on a filing, its Form ADV or its company registration **19 named** AC **Alison Creed** Alternate Director Hv Holtzbrinck Ventures Fund IV GP Limited i Form ADV AW **Andreas Wisser** Managing Director of the General Partner and the Managing Limited Partner i Filing they signed CW **Christian Wilhelm Saller** Managing Director of the Managing Limited Partner i Filing they signed CJ **Christoph Jung** Managing Director of the Managing Limited Partner i Filing they signed CC **Costas Constantinides** Director of Hv Holtzbrinck Ventures GP Lux S.À R.L. i Form ADV DB **Dalia Bleyer** Director of Hv Holtzbrinck Ventures GP Lux S.Á R.L. i Form ADV DB **Daniel Bertele** Managing Director of the Managing Limited Partner i Filing they signed DJ **David Jacek Kuczek** Managing Director of the Managing Limited Partner i Filing they signed DJ **David Jacek Kuzcek** Managing Director of the Managing Limited Partner i Filing they signed DC **Dr. Christian Wilhelm Saller** Managing Director of the Managing Limited Partner i Filing they signed EM **Erique Mvalo** Director of Hv Holtzbrinck Ventures Fund IV GP Limited i Form ADV GL **Gary Leatt** Alternate Director of Hv Holtzbrinck Ventures Fund IV GP Limited i Form ADV HK **Heiko Kottkamp-Ramann** Managing Director of the General Partner and the Managing Limited Partner i Filing they signed MW **Martin Wilhelm Weber** Managing Director of the Managing Limited Partner i Filing they signed NA **Nadia Assaadi-Irtizaali** Director of Hv Holtzbrinck Ventures Fund IV GP Limited i Form ADV RT **Rainer Thomas Markle** Managing Director of the Managing Limited Partner i Filing they signed RT **Rainer Thomas Maerkle** Managing Director i Form ADV RE **Rashid Ejaz** Director of Hv Holtzbrinck Ventures GP Lux S.À R.L. i Form ADV SC **Simon Charles Armstrong King** Director of Hv Holtzbrinck Ventures Fund IV GP Limited i Form ADV We also hold **24** 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 the register says From the firm's own filings with the SEC, which it must file accurately by law **$4.8B** gross assets of its funds, 2 advisers combined Oct 2026 **10+** funds on file numbered funds in its name **Exempt** reporting adviser venture or small private funds - **Legal name:** HV Capital Adviser GMBH - **SEC number:** CRD 163955 Who backs their funds ## 1 LP on record in HV Capital's funds - **Funds:** 1 The institutions that put money into its funds, which the firm then invests in companies. Source: an LP list. - [**Rancilio Cube** 1 fund](https://millionrounds.com/fund/rancilio-cube) Fund Vintage Committed HV Capital - - ## Exits from the portfolio Companies it backed that were later bought or listed **2 in all** **[Namshi](https://millionrounds.com/company/namshi)** Bought by [Noon](https://millionrounds.com/fund/noon) **$335M** Aug 2022 **[Namshi](https://millionrounds.com/company/namshi)** Bought by [Emaar Malls PJSC](https://millionrounds.com/fund/emaar-malls-pjsc) **$151M** May 2017 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$12M** raised in May 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Median round joined **$20M** the round, not its cheque Alone, median **$4.8M** Led 8 of 166 rounds **5%** - **Said size:** From $200K - **Sole investor:** 9 rounds - **Last cheque:** Oct 2026 - **Exits:** 2 from the portfolio Rounds by stage said on their site - Series A said *35* - Venture *35* - Seed said *27* - Series B *19* - Series C *12* - Series D *10* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [Speedinvest](https://millionrounds.com/fund/speedinvest) 11 - [Picus Capital](https://millionrounds.com/fund/picus-capital) 10 - [Vsquared Ventures](https://millionrounds.com/fund/vsquared-ventures) 8 - [Balderton Capital](https://millionrounds.com/fund/balderton-capital) 7 - [Headline](https://millionrounds.com/fund/headline) 7 - [Lakestar](https://millionrounds.com/fund/lakestar) 7 **Pitching HV Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as HV Capital. A count of rooms they were both in, not a relationship either has claimed. [**Speedinvest** VC firm **11** rounds together](https://millionrounds.com/fund/speedinvest)[**Picus Capital** VC firm **10** rounds together](https://millionrounds.com/fund/picus-capital)[**Vsquared Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/vsquared-ventures)[**Balderton Capital** VC firm **7** rounds together](https://millionrounds.com/fund/balderton-capital)[**Headline** VC firm **7** rounds together](https://millionrounds.com/fund/headline)[**Lakestar** VC firm **7** rounds together](https://millionrounds.com/fund/lakestar)[**EQT Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/eqt-ventures)[**Global Founders Capital** VC firm **6** rounds together](https://millionrounds.com/fund/global-founders-capital)[**Partech Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/partech)[**Y Combinator** Accelerator **6** rounds together](https://millionrounds.com/fund/y-combinator)[**10x Founders** VC firm **5** rounds together](https://millionrounds.com/fund/10x-founders)[**468 Capital** VC firm **5** rounds together](https://millionrounds.com/fund/468-capital) ## Recently backed The latest companies HV Capital put money into. [**Rabot Energy** $50M · Oct 2026](https://millionrounds.com/company/rabot-energy)[**Hadrian** $40M · Oct 2026](https://millionrounds.com/company/hadrian)[**Exein** $270M · Sept 2026](https://millionrounds.com/company/exein)[**Ore Energy** $43M · Aug 2026](https://millionrounds.com/company/ore-energy)[**Quantum Systems** $1.2B · Jul 2026](https://millionrounds.com/company/quantum-systems)[**HelloFresh** $398M · Jul 2026](https://millionrounds.com/company/hellofresh) ## Mentioned on podcasts Episodes that name HV Capital in their description, not their title. - [Fintech Insider](https://millionrounds.com/podcasts/fintech-insider) 19 Mar 2026 · 53 min 1047. Insights: Can you launch a start-up in 2026? Live from J.P. Morgan Payments Mentions [HV Capital](https://millionrounds.com/fund/hv-capital)[Working Capital](https://millionrounds.com/fund/working-capital-fund)[Philipp Povel](https://millionrounds.com/person/philipp-povel) Apple Podcasts - [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 17 Nov 2025 · 23 min Fabio Schmidberger: Co-Founder and CEO at voize announcing their $50m Series A led by Balderton! Mentions [Balderton Capital](https://millionrounds.com/fund/balderton-capital)[HV Capital](https://millionrounds.com/fund/hv-capital)[Y Combinator](https://millionrounds.com/fund/y-combinator) Apple PodcastsShow page ## Quick answers about HV Capital ### What does HV Capital invest in? HV Capital invests most often at Series A and Venture (51% of the rounds on record), in sectors such as AI, Enterprise_software and Deep_tech. ### How active is HV Capital? 166 investments on record, 30 of them in the last 12 months, and it led 8. The most recent was in Oct 2026. ### What has HV Capital invested in recently? Its most recent investments on record: Rabot Energy (Series B, Oct 2026), Hadrian (Series B, Oct 2026) and Exein (Growth, Sept 2026). ### How big are HV Capital's cheques? The median round it joins is $20M. ### Does HV Capital lead rounds? Sometimes: it led 8 of its 166 investments on record (5%). ### Where does HV Capital invest? Most of the companies it backs are in Germany (56%), the United States (13%) and the Netherlands (8%). ### Is HV Capital investing now? Yes: it is actively investing, with 30 investments in the last 12 months. ### Who does HV Capital invest alongside? Most often Speedinvest (11 rounds together), Picus Capital (10 rounds together) and Vsquared Ventures (8 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. 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